Aerospace Fasteners Market to Reach USD 9.88 Billion by 2030 | With 7.16% CAGR
The Aerospace Fasteners Market Covered Major Segments Size, Share & COVID-19 Impact Analysis, By Product (Rivets, Screws, Nuts & Bolts, and Others), By Material (Aluminum, Steel, Superalloys, and Titanium), By Platform Fixed-wing Aircraft (Commercial Aircraft, Business Aircraft, General Aviation Aircraft, and Military Aircraft) and Rotary-wing Aircraft (Military helicopters and Civil helicopters), and Regional Forecast, 2023-2030.
Aerospace Fasteners Market
Pune, India, Aug. 24, 2023 (GLOBE NEWSWIRE) — The global aerospace fasteners market stood at USD 5.37 billion in 2022 and is expected to rise from USD 6.09 billion in 2023 to USD 9.88 billion by 2030 at a CAGR of 7.16% during 2023-2030. The market is poised to stimulate owing to the expansion in defense aircraft production. Fortune Business Insights™ presents this information in its report titled, “Global Aerospace Fasteners Market, 2023-2030″.
Aerospace fasteners are specialized components essential in aircraft and spacecraft construction, holding together various parts with precision and reliability. These fasteners are designed to withstand extreme conditions, including high levels of vibration, fluctuating temperatures, and intense mechanical stress. They play a crucial role in maintaining structural integrity and safety throughout the vehicle’s lifespan. Aerospace fasteners come in diverse types, such as bolts, screws, rivets, and nuts, each tailored for specific applications based on factors like material compatibility, load-bearing capacity, and ease of installation.
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List of Key Market Players Mentioned in the Aerospace Fasteners Market:
- B&B Specialties Inc. (U.S.)
- Boeing Distribution Services Ins. (U.S.)
- HC Merchandisers, Inc. (HC Pacific) (U.S.)
- Howmet Aerospace Inc. (U.S.)
- LISI Aerospace (France)
- M.S Aerospace (U.S.)
- National Aerospace Fasteners Corporation (Taiwan)
- Stanley Black & Decker, Inc. (U.S.)
- TFI Aerospace Corporation (Canada)
- TPS Aviation Inc. (U.S.)
- TriMas Corporation (U.S.)
- Wurth Group (Germany)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 7.16% |
| 2030 Value Projection | USD 9.88 Billion |
| Market Size in 2023 | USD 6.09 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Aerospace Fasteners Market Growth Drivers | Growth in Production and Increase in Orders for Commercial Aircraft to Accentuate Market Growth |
| Emergence of Super Alloys & Titanium for High-Quality Fasteners to Boost Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/aerospace-fasteners-market-101582
COVID-19 Impact:
Rising Risk of Exposure to the COVID-19 Hampered Product Demand
The onslaught of the COVID-19 pandemic hampered the growth of aerospace fasteners due to the disruption in the supply of raw materials. Rising risk of exposure to the COVID-19 virus will further dent the forecast period. With the occurrence of the Russia-Ukraine war has led to a dearth of essential raw materials, which impeded the demand for aerospace fasteners to a great extent. Meanwhile, to overcome the new challenges, key players are adopting multiple strategies that will augur well for industry participants gearing to boost their portfolios.
Segments:
By Product, Rivet Segment to Hold the Largest Market Share Owing to Its Utility in Aero Structures
On the basis of product, the market is categorized into screws, nuts & bolts, rivets, and others. The rivet product segment is expected to hold the lion’s share during the forecast period due to its growing utility in aero structures.
By Material Analysis, Aluminum material Segment Dominate As It is Cheaper
Depending on the material, the market is segmented into aluminum, steel, superalloys, and titanium. The Aluminum material segment is expected to dominate as they are cheaper than other materials.
By platform, Fixed-Wing Segment to Generate High Revenue Owing to High Demand
In terms of the platform, the market is segmented into rotary-wing aircraft and fixed-wing. The fixed-wing segment is anticipated to remain at the forefront throughout the forecast period due to the surging demand for commercial aircraft.
Report Coverage:
The report provides insights into the regional analysis covering different regions, contributing to the market’s growth. The report includes qualitative and quantitative analysis of several factors, such as the key drivers and restraints that will impact the market. Adopting strategies by major players to introduce partnerships, collaboration, and new products will contribute to the market’s growth.
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Drivers & Restraints :
Growing Utilization of Robotics will Favor Market Growth
Owing to the growing utilization of 3D printing and robotics technology with the aim of getting a high degree of accuracy and reduced dependency on humans has spurred the aerospace fasteners market share during the projected period. Another prominent reason that accentuates the demand for the product is the rise in travel & tourism and air traffic.
Meanwhile, the increasing popularity of composite materials in the aviation industry could hamper the aerospace fasteners market growth.
Regional Insights:
Surging Investments in R&D Activities Fosters Growth in the North America
North America held a strong grip on the aerospace fasteners market share and is expected to lead the market during the projected period due to the surging investments in R&D activities across the region.
European’s aerospace fastener market accounts for the second-highest market share and is also likely to maintain its strong foothold across the region. The growth is expected to be aided by the presence of leading aircraft manufacturers such as Airbus SE, Dassault Aviation, and Leonardo SPA.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Qualitative Insights
- Impact of COVID-19 on the Aerospace Fasteners Market
- Steps Taken by the Industry/Government/Companies to Overcome the Impact
- Potential Opportunities due to COVID-19 Outbreak
- Global Aerospace Fasteners Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Rivets
- Screws
- Nuts & Bolts
- Others
- Market Analysis, Insights and Forecast – By Material
- Aluminum
- Steel
- Superalloys
- Titanium
- Market Analysis, Insights and Forecast – By Platform
- Fixed-wing aircraft
- Commercial Aircraft
- Business Aircraft
- General Aviation Aircraft
- Military Aircraft
- Rotary-wing aircraft
- Military Helicopters
- Civil Helicopters
- Fixed-wing aircraft
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
TOC Continued…!
Competitive Landscape:
Top Giants are investing in Multi-Specialty Tools and Superalloys to fortify their Position
Prominent firms such as LISI Aerospace, TriMas Corporation, HC Merchandisers, and National Aerospace Fasteners Corporation will likely invest in product developments such as multi-speciality tools and superalloys with an aim to shape the competitive landscape. The Wurth Group and The Boeing Company are poised to lead the marketplace on account of their global presence.
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Key Industry Development-
August 2021: Safran Aircraft Engines gave the certification to Qualified Aerospace forging to develop high value-added precision manufacturing capabilities along with refining its process technology for aerospace machined products.
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