According to the latest report by IMARC Group “Aerospace Fasteners Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The global aerospace fasteners market size reached US$ 6.19 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.95 Billion by 2027, exhibiting at a CAGR of 6.1% during 2022-2027.
Aerospace fasteners include nuts and bolts, rivets, and screws, which are made of aluminum, titanium, and alloy steel. They are lightweight, safe, durable, and can withstand extreme environmental conditions. They help improve flight performance and ensure safe and efficient operation through high structural strength and stiffness. They are employed in different parts of the plane, including the fuselage, wings, empennage, nose cone, pylon, nacelle, and flight control surfaces. At present, they find extensive applications in commercial airplanes, military planes, jets, ballistic missiles, and space-bound rockets across the globe.
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Aerospace Fasteners Market Trends and Drivers:
The flourishing travel and tourism (T&T) industry and rapid growth in air travel on account of the rising standards of living represent one of the key factors positively influencing the market. In line with this, the increasing utilization of rivets in aircraft manufacturing on account of their rigid connectivity to aerostructure, high reliability when suspended to vibration, and easy installation process is creating a favorable market outlook. Moreover, the growing defense expenditure and procurement of new military aircraft and fighter jets worldwide are catalyzing the demand for aerospace fasteners. Additionally, the incorporation of 3D printing and robotic technologies to facilitate mass production and improve quality, complex design, customization is propelling the market growth around the world.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Arconic Fastening Systems & Rings
- B&B Specialties
- LISI Aerospace
- 3V Fasteners Company
- National Fasteners Company
- TriMas Corporation
- Wesco Aircraft Holdings
- CDP Fastener Group
- TFI Aerospace Corporation
- Stanley Engineered Fastening
- Ho-Ho-Kus Inc, etc.
Aerospace Fasteners Market 2022-2027 Competitive Analysis and Segmentation:
The report has segmented the market based on product type, material type, application, aircraft type and end-use sector.
Breakup by Product Type:
- Nuts and Bolts
Breakup by Material Type:
- Alloy Steel
Breakup by Application:
- Control Surfaces
Breakup by Aircraft Type:
- Narrow Body Aircraft
- Wide Body Aircraft
- Very Large Aircraft
- Fighter Jet
Breakup by End-Use Sector:
- Breakup by Region
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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