Aerospace Fasteners Market
PUBLISHED: 2024 ID: SMRC26444
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Aerospace Fasteners Market

Aerospace Fasteners Market Forecasts to 2030 - Global Analysis By Product Type (Rivets, Screws, Nuts & Bolts and Other Product Types), Material (High-Strength Steel Alloys, Aluminum Alloys and Composite Materials), Aircraft Type, Application, End User and By Geography

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4.3 (45 reviews)
Published: 2024 ID: SMRC26444

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Aerospace Fasteners Market is accounted for $7.5 billion in 2024 and is expected to reach $12.1 billion by 2030 growing at a CAGR of 8.3% during the forecast period. Aerospace fasteners are specialized components used to assemble and secure various parts of an aircraft, ensuring structural integrity and safety. Made from high-strength materials like titanium, aluminum, and stainless steel, these fasteners include bolts, screws, rivets, and nuts. They are designed to withstand extreme conditions, such as high stress, temperature variations, and vibration, which are crucial for maintaining aircraft performance and reliability.

According to the International Air Transport Association (IATA), it states that the overall number of air passengers will reach 4 billion by 2024. And, the Federal Aviation Administration forecasted that the number of United States airline passengers will reach 1.28 billion by 2038.

Market Dynamics:

Driver: 

Increasing aircraft fleet size

The increasing aircraft fleet size is a significant driver for the aerospace fasteners market. As global air travel continues to rise, airlines are expanding their fleets to meet the growing demand. This expansion necessitates a higher volume of aerospace fasteners for the assembly and maintenance of new aircraft. Additionally, the replacement of aging aircraft with newer models further boosts the demand for fasteners, driving market growth and ensuring the safety and reliability of the expanding fleet.

Restraint:

Volatility in raw material prices

Volatility in raw material prices poses a significant restraint to the aerospace fasteners market. The prices of key materials such as aluminum, titanium, and steel can fluctuate due to market dynamics, geopolitical factors, and supply chain disruptions. These fluctuations can impact the cost of production for aerospace fasteners, leading to increased prices for end-users. Manufacturers may face challenges in maintaining profitability and competitiveness, which can hinder market growth and investment in new technologies.

Opportunity:

Adoption of lightweight materials

The adoption of lightweight materials presents a substantial opportunity for the aerospace fasteners market. As the aerospace industry focuses on improving fuel efficiency and reducing emissions, there is a growing demand for fasteners made from advanced materials like titanium and composites. These materials offer high strength-to-weight ratios, enhancing aircraft performance and reducing overall weight. Manufacturers investing in the development of lightweight, high-performance fasteners can capitalize on this trend, driving innovation and market expansion.

Threat:

Stringent regulatory standards

The aerospace industry is highly regulated, with strict safety and performance requirements for all components, including fasteners. Compliance with these standards involves rigorous testing, certification processes, and adherence to quality control measures. Failure to meet these standards can result in product recalls, legal liabilities, and loss of market reputation. The high cost and complexity of compliance can also deter new entrants and limit market growth.

Covid-19 Impact: 

The Covid-19 pandemic had a profound impact on the aerospace fasteners market. The global lockdowns and travel restrictions led to a significant decline in air travel, resulting in reduced demand for new aircraft and maintenance services. This downturn affected the production and sales of aerospace fasteners. However, as the industry recovers and air travel resumes, the market is expected to rebound, driven by the need for fleet modernization and increased safety measures.

The rivets segment is expected to be the largest during the forecast period

The rivets segment is expected to dominate the aerospace fasteners market due to their extensive use in aircraft assembly. Rivets provide strong, reliable joints that are essential for the structural integrity of aircraft. They are widely used in critical areas such as fuselage, wings, and control surfaces. The demand for rivets is driven by the continuous production of new aircraft and the need for regular maintenance and repairs, ensuring their prominence in the market.

The defense segment is expected to have the highest CAGR during the forecast period

The defense segment is projected to have the highest CAGR in the aerospace fasteners market. This growth is driven by increasing defense budgets and the modernization of military fleets worldwide. The demand for advanced military aircraft, including fighter jets and transport planes, necessitates high-performance fasteners that can withstand extreme conditions. Investments in new defense technologies and the replacement of aging military aircraft further boost the demand for aerospace fasteners in this segment.

Region with largest share:

North America is positioned to dominate the aerospace fasteners market due to its advanced aerospace industry and the presence of major aircraft manufacturers like Boeing and Lockheed Martin. The region's strong focus on innovation, extensive defense spending, and high demand for commercial aircraft contribute to its leading market share. Additionally, the well-established supply chain and robust infrastructure support the production and distribution of aerospace fasteners, ensuring North America's dominance in the market.

Region with highest CAGR:

The Asia Pacific region anticipates rapid growth in the aerospace fasteners market, driven by increasing air travel, rising defense expenditures, and expanding aircraft manufacturing capabilities. Countries like China, India, and Japan are investing heavily in their aerospace industries, leading to higher demand for fasteners. The region's growing middle class and urbanization also contribute to the increased demand for commercial aircraft, further boosting the market's growth prospects in Asia Pacific.

Key players in the market

Some of the key players in Aerospace Fasteners Market include Arconic Inc., Precision Castparts Corp., LISI Aerospace, Bollhoff Group, Stanley Black & Decker, Inc., 3V Fasteners Company, Inc., KLX Inc., TriMas Corporation, SPS Technologies LLC, Berkshire Hathaway Inc., Ho-Ho-Kus Inc., The Boeing Company, Airbus SE, Lockheed Martin, Wesco Aircraft Holdings, Inc., National Aerospace Fasteners Corporation, Precision Aerospace Components and Anixter International Inc.

Key Developments:

In May 2024, Boeing announced plans to invest in several Québec-based enterprises, including a $110 million anchor investment for an Aerospace Development Centre in the new Espace Aéro Innovation Zone. The investments are part of Boeing’s Industrial and Technological Benefits commitment to Canada for its selection of Boeing’s P-8A Poseidon to fulfill its long-term multi-mission aircraft role.

In May 2024, Airbus has announced plans to establish a Tech Hub in Japan. The new initiative is designed to develop partnerships in the country to advance research, technology and innovation in aerospace and push boundaries to prepare for the next generation of aircraft. The new Airbus Tech Hub, coordinated from Tokyo, will focus on three key research areas, including the development of new materials, decarbonisation technologies, robotics and automation.

In May 2023, Arconic Corp (ARNC.N), opens new tab has agreed to be bought by Apollo Global Management Inc (APO.N), opens new tab in a take-private deal valued at about $5.2 billion, the U.S. aerospace supplier said. Apollo will pay $30 for each Arconic share held, representing a premium of 35.6% as of close on Feb. 27, a day before reports of deal talks emerged. The deal, which is expected to close in the second half of the year, has an equity value of about $3 billion.

Product Types Covered:
• Rivets
• Screws
• Nuts & Bolts
• Other Product Types

Materials Covered:
• High-Strength Steel Alloys
• Aluminum Alloys
• Composite Materials

Aircraft Types Covered:
• Commercial Airplanes
• Regional Transport Aircraft
• Business Jets
• Military Aircraft

Applications Covered:
• Aircraft Fuselage & Assembly
• Engine Nacelles & Pylons
• Landing Gear Systems
• Interior Structures & Passenger Seats
• Other Applications

End Users Covered:
• Commercial Aviation
• Defense

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary       
        
2 Preface       
 2.1 Abstract      
 2.2 Stake Holders      
 2.3 Research Scope      
 2.4 Research Methodology      
  2.4.1 Data Mining     
  2.4.2 Data Analysis     
  2.4.3 Data Validation     
  2.4.4 Research Approach     
 2.5 Research Sources      
  2.5.1 Primary Research Sources     
  2.5.2 Secondary Research Sources     
  2.5.3 Assumptions     
        
3 Market Trend Analysis       
 3.1 Introduction      
 3.2 Drivers      
 3.3 Restraints      
 3.4 Opportunities      
 3.5 Threats      
 3.6 Product Analysis      
 3.7 Application Analysis      
 3.8 End User Analysis      
 3.9 Emerging Markets      
 3.10 Impact of Covid-19      
        
4 Porters Five Force Analysis       
 4.1 Bargaining power of suppliers      
 4.2 Bargaining power of buyers      
 4.3 Threat of substitutes      
 4.4 Threat of new entrants      
 4.5 Competitive rivalry      
        
5 Global Aerospace Fasteners Market, By Product Type       
 5.1 Introduction      
 5.2 Rivets      
  5.2.1 Blind Rivets     
  5.2.2 Solid Shank Rivets     
  5.2.3 Bulblind Rivets     
 5.3 Screws      
  5.3.1 Hi-Lok Screws     
  5.3.2 Shoulder Screws     
  5.3.3 Socket Head Cap Screws     
  5.3.4 Sheet Metal Screws     
 5.4 Nuts & Bolts      
  5.4.1 Locknuts     
  5.4.2 Shear Bolts     
  5.4.3 Wing Nuts     
 5.5 Other Product Types      
        
6 Global Aerospace Fasteners Market, By Material       
 6.1 Introduction      
 6.2 High-Strength Steel Alloys      
  6.2.1 Titanium Alloys     
  6.2.2 Inconel Alloys     
  6.2.3 Stainless Steel     
 6.3 Aluminum Alloys      
 6.4 Composite Materials      
        
7 Global Aerospace Fasteners Market, By Aircraft Type       
 7.1 Introduction      
 7.2 Commercial Airplanes      
  7.2.1 Narrow Body Aircraft     
  7.2.2 Wide Body Aircraft     
 7.3 Regional Transport Aircraft      
 7.4 Business Jets      
 7.5 Military Aircraft      
        
8 Global Aerospace Fasteners Market, By Application       
 8.1 Introduction      
 8.2 Aircraft Fuselage & Assembly      
 8.3 Engine Nacelles & Pylons      
 8.4 Landing Gear Systems      
 8.5 Interior Structures & Passenger Seats      
 8.6 Other Applications      
        
9 Global Aerospace Fasteners Market, By End User       
 9.1 Introduction      
 9.2 Commercial Aviation      
 9.3 Defense      
        
10 Global Aerospace Fasteners Market, By Geography       
 10.1 Introduction      
 10.2 North America      
  10.2.1 US     
  10.2.2 Canada     
  10.2.3 Mexico     
 10.3 Europe      
  10.3.1 Germany     
  10.3.2 UK     
  10.3.3 Italy     
  10.3.4 France     
  10.3.5 Spain     
  10.3.6 Rest of Europe     
 10.4 Asia Pacific      
  10.4.1 Japan     
  10.4.2 China     
  10.4.3 India     
  10.4.4 Australia     
  10.4.5 New Zealand     
  10.4.6 South Korea     
  10.4.7 Rest of Asia Pacific     
 10.5 South America      
  10.5.1 Argentina     
  10.5.2 Brazil     
  10.5.3 Chile     
  10.5.4 Rest of South America     
 10.6 Middle East & Africa      
  10.6.1 Saudi Arabia     
  10.6.2 UAE     
  10.6.3 Qatar     
  10.6.4 South Africa     
  10.6.5 Rest of Middle East & Africa     
        
11 Key Developments       
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures      
 11.2 Acquisitions & Mergers      
 11.3 New Product Launch      
 11.4 Expansions      
 11.5 Other Key Strategies      
        
12 Company Profiling       
 12.1 Arconic Inc.      
 12.2 Precision Castparts Corp.      
 12.3 LISI Aerospace      
 12.4 Bollhoff Group      
 12.5 Stanley Black & Decker, Inc.      
 12.6 3V Fasteners Company, Inc.      
 12.7 KLX Inc.      
 12.8 TriMas Corporation      
 12.9 SPS Technologies LLC      
 12.10 Berkshire Hathaway Inc.      
 12.11 Ho-Ho-Kus Inc.      
 12.12 The Boeing Company      
 12.13 Airbus SE      
 12.14 Lockheed Martin      
 12.15 Wesco Aircraft Holdings, Inc.      
 12.16 National Aerospace Fasteners Corporation      
 12.17 Precision Aerospace Components      
 12.18 Anixter International Inc.      
        
List of Tables        
1 Global Aerospace Fasteners Market Outlook, By Region (2022-2030) ($MN)       
2 Global Aerospace Fasteners Market Outlook, By Product Type (2022-2030) ($MN)       
3 Global Aerospace Fasteners Market Outlook, By Rivets (2022-2030) ($MN)       
4 Global Aerospace Fasteners Market Outlook, By Blind Rivets (2022-2030) ($MN)       
5 Global Aerospace Fasteners Market Outlook, By Solid Shank Rivets (2022-2030) ($MN)       
6 Global Aerospace Fasteners Market Outlook, By Bulblind Rivets (2022-2030) ($MN)       
7 Global Aerospace Fasteners Market Outlook, By Screws (2022-2030) ($MN)       
8 Global Aerospace Fasteners Market Outlook, By Hi-Lok Screws (2022-2030) ($MN)       
9 Global Aerospace Fasteners Market Outlook, By Shoulder Screws (2022-2030) ($MN)       
10 Global Aerospace Fasteners Market Outlook, By Socket Head Cap Screws (2022-2030) ($MN)       
11 Global Aerospace Fasteners Market Outlook, By Sheet Metal Screws (2022-2030) ($MN)       
12 Global Aerospace Fasteners Market Outlook, By Nuts & Bolts (2022-2030) ($MN)       
13 Global Aerospace Fasteners Market Outlook, By Locknuts (2022-2030) ($MN)       
14 Global Aerospace Fasteners Market Outlook, By Shear Bolts (2022-2030) ($MN)       
15 Global Aerospace Fasteners Market Outlook, By Wing Nuts (2022-2030) ($MN)       
16 Global Aerospace Fasteners Market Outlook, By Other Product Types (2022-2030) ($MN)       
17 Global Aerospace Fasteners Market Outlook, By Material (2022-2030) ($MN)       
18 Global Aerospace Fasteners Market Outlook, By High-Strength Steel Alloys (2022-2030) ($MN)       
19 Global Aerospace Fasteners Market Outlook, By Titanium Alloys (2022-2030) ($MN)       
20 Global Aerospace Fasteners Market Outlook, By Inconel Alloys (2022-2030) ($MN)       
21 Global Aerospace Fasteners Market Outlook, By Stainless Steel (2022-2030) ($MN)       
22 Global Aerospace Fasteners Market Outlook, By Aluminum Alloys (2022-2030) ($MN)       
23 Global Aerospace Fasteners Market Outlook, By Composite Materials (2022-2030) ($MN)       
24 Global Aerospace Fasteners Market Outlook, By Aircraft Type (2022-2030) ($MN)       
25 Global Aerospace Fasteners Market Outlook, By Commercial Airplanes (2022-2030) ($MN)       
26 Global Aerospace Fasteners Market Outlook, By Narrow Body Aircraft (2022-2030) ($MN)       
27 Global Aerospace Fasteners Market Outlook, By Wide Body Aircraft (2022-2030) ($MN)       
28 Global Aerospace Fasteners Market Outlook, By Regional Transport Aircraft (2022-2030) ($MN)       
29 Global Aerospace Fasteners Market Outlook, By Business Jets (2022-2030) ($MN)       
30 Global Aerospace Fasteners Market Outlook, By Military Aircraft (2022-2030) ($MN)       
31 Global Aerospace Fasteners Market Outlook, By Application (2022-2030) ($MN)       
32 Global Aerospace Fasteners Market Outlook, By Aircraft Fuselage & Assembly (2022-2030) ($MN)       
33 Global Aerospace Fasteners Market Outlook, By Engine Nacelles & Pylons (2022-2030) ($MN)       
34 Global Aerospace Fasteners Market Outlook, By Landing Gear Systems (2022-2030) ($MN)       
35 Global Aerospace Fasteners Market Outlook, By Interior Structures & Passenger Seats (2022-2030) ($MN)       
36 Global Aerospace Fasteners Market Outlook, By Other Applications (2022-2030) ($MN)       
37 Global Aerospace Fasteners Market Outlook, By End User (2022-2030) ($MN)       
38 Global Aerospace Fasteners Market Outlook, By Commercial Aviation (2022-2030) ($MN)       
39 Global Aerospace Fasteners Market Outlook, By Defense (2022-2030) ($MN)       
        
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.        

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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