Global Aircraft Fasteners Market Size To Worth USD 13.5 Billion By 2033 | CAGR of 4.98%
The Global Aircraft Fasteners Market Size was valued at USD 8.3 Billion in 2023 and the Worldwide Aircraft Fasteners Market is Expected to reach USD 13.5 Billion by 2033, according to a Research Report published by Spherical Insights & Consulting. Companies Covered: Bombardier, Embraer, Comac, Stanley Black & Decker Inc., LISI Aerospace, 3M Fasteners, Precision Castparts Corp, Alcoa Fastening Systems & Rings, B&B Specialities Inc, Bufab Group, Boeing, Airbus, Dassault System, Boeing Distribution Services Inc., Stanely Black & Decker Inc. and Others.
New York, United States , Feb. 06, 2024 (GLOBE NEWSWIRE) -- The Global Aircraft Fasteners Market Size to Grow from USD 8.3 Billion in 2023 to USD 13.5 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.98% during the Forecast period.
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The demand for aircraft fasteners is strongly linked to the production of new aircraft. As airlines and military institutions around the world update and increase their fleets, the demand for fasteners rises. Material and manufacturing technique innovations contribute to the development of more efficient and lightweight fasteners, which are crucial for increasing aircraft performance. Titanium and other lightweight metals have increased in favour as fastener materials due to their high strength-to-weight ratio and corrosion resistance. The aerospace industry's rising emphasis on sustainability has led to the development of ecologically friendly materials and fastener manufacturing techniques.
*Aircraft Fasteners Market Value Chain Analysis*
The process starts with the acquisition of raw materials such as high-strength metals and alloys like titanium, aluminium, stainless steel, and nickel-based alloys. To create the basic shapes required for fasteners, raw materials are processed using a number of methods such as forging, extrusion, and machining. Many fasteners are heat treated to increase mechanical properties like strength and hardness. The treated materials are then moulded into the precise shapes required for fasteners using procedures like cold heading for bolts and threading for screws. To produce complete fastening systems, fastener manufacturers may rely on specialised suppliers for supplementary components such as washers and nuts. Finished fasteners are distributed through a network of suppliers, distributors, and, in some cases, direct to aircraft manufacturers.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the. "*Global Aircraft Fasteners Market** Size By Product Type (Screws, Rivets, Nuts & Bolts), By Material Based (Aluminum, Steel, Titanium, Superalloys), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033.”*
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*Insights by Product Type*
The rivets segment accounted for the largest market share over the forecast period 2023 to 2033. Material breakthroughs in the aerospace sector include lightweight metals and composites. Rivets are essential components in modern aircraft construction due to their adaptability to a wide range of materials, including aluminium, titanium, and composites. The increase in global air travel has produced a demand for new commercial aeroplanes. The development of new aircraft involves the use of several fasteners, including rivets, which adds to the growth of the rivets market. The aftermarket segment, which includes MRO activities, requires a consistent supply of replacement fasteners.
*Insights by Material Based*
The superalloys segment accounted for the largest market share over the forecast period 2023 to 2033. Superalloys exhibit exceptional mechanical properties at high temperatures, making them ideal for critical applications in aviation engines and other high-temperature components. The aerospace industry has a high demand for high-temperature-resistant materials, which is accelerating the growth of superalloys in the fastener market. As the aviation industry continues to innovate and develop more contemporary and fuel-efficient engines, there is a growing demand for superalloy fasteners that can withstand the harsh conditions encountered inside engines. Global demand for air travel has led to increased aircraft production to meet the aviation industry's growing needs.
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*Insights by Region*
North America is anticipated to dominate the Aircraft Fasteners Market from 2023 to 2033. North America, particularly the United States, has a robust defence sector. Military aircraft manufacturing and maintenance, fueled by Department of Defence contracts, drive up demand for specialised fasteners used in military aircraft. North America has well-established, integrated aircraft supply chains. Fastener manufacturers in the region typically work with aircraft OEMs, Tier 1 suppliers, and other supply chain stakeholders. North America has a sizable aftermarket for aircraft maintenance and repair. The need for replacement fasteners in MRO activities has an impact on the overall market dynamics.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. Countries in the Asia-Pacific region, particularly China and India, have experienced tremendous economic growth, leading to a surge in air travel demand. The growing demand for commercial aircraft in the region has assisted the expansion of the aircraft fasteners sector. Several Asian-Pacific countries, particularly China, have made significant expenditures to expand their aircraft manufacturing capabilities. China, in particular, has undertaken efforts to create a competitive aircraft industry. Cities like Chengdu and Shanghai have emerged as aerospace centres, containing a wide range of industrial facilities and research centres.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key Vendors in the Global Aircraft Fasteners Market include Bombardier, Embraer, Comac, Stanley Black & Decker Inc., LISI Aerospace, 3M Fasteners, Precision Castparts Corp, Alcoa Fastening Systems & Rings, B&B Specialities Inc, Bufab Group, Boeing, Airbus, Dassault System, Boeing Distribution Services Inc., Stanely Black & Decker Inc. and Others.
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*Recent Market Developments*
· In June 2019, Trimas Aerospace, based in the United States, announced a long-term agreement with Safran nacelles and the Sonaca business.
*Market Segmentation*
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
*Aircraft Fasteners Market, Product Analysis*
· Screws
· Rivets
· Nuts & Bolts
*Aircraft Fasteners Market, Material Based Analysis*
· Aluminum
· Steel
· Titanium
· Superalloys
*Aircraft Fasteners Market, Regional Analysis*
· North America
· US
· Canada
· Mexico
· Europe
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· Asia Pacific
· China
· Japan
· India
· South Korea
· Australia
· South America
· Brazil
· Argentina
· Colombia
· Middle East & Africa
· UAE
· Saudi Arabia
· South Africa
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