The global aerospace fasteners market size is expected to reach USD 7.05 billion by 2028 according to a new study by Polaris Market Research. The report “Aerospace Fasteners Market Share, Size, Trends, Industry Analysis Report, By Material (Aluminum, Steel, Titanium, Superalloys); By Product; By Aircraft; By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future industry growth.
Increasing aircraft orders, increasing passenger traffic across the globe, increasing demand for lightweight fastening, and shifting from conventional bulky and corrosive stainless-steel nuts to advanced titanium-based and super-alloys-based nuts are some key factors fueling the demand in the global market. Titanium and superalloys segments are increasingly replacing traditional stainless alloy-based fastener.
Increasing demand for lightweight and corrosion-resistant materials in fastening solutions is likely to fuel the demand of titanium screws at an exponential rate. Titanium material also has an excellent CTE (Co-efficient of Thermal Expansion), making it the preferred choice on carbon composite surfaces that are increasingly being used in the industry.
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North America holds the gigantic share in this industry driven by a host of factors such as strong aircraft fleet size, increasing space exploration activities, largest defense spending and rising demand for lightweight and advanced fastener in modern aircraft programs. The region also has leadership in aero engine manufacturing and MRO centers representing strong industry demand for retrofit demand of fasteners.
Market Participants such as HC Merchandisers, Inc., Stanley Engineered Fastening, 3V Fasteners Company, Inc., Boeing Distribution Services Inc., TPS Aviation, Inc., Acument Global Technologies, Arconic Fastening Systems & Rings, B&B Specialties, Inc., Howmet Aerospace Inc., LISI Aerospace, Wurth Group, National Aerospace Fasteners Corporation, PCC Fasteners, TriMas Corporation, Stanley Black & Decker, Inc., TFI Aerospace Corporation, and MS Aerospace are some of the key players competing in the global market.
There has been series of acquisition in the industry with big players acquiring small players to gain share and expand their industry. In October 2020, Avantus Aerospace acquired aerospace fastener manufacturer Fastener Innovation Technology (FIT). It serves key aerospace OEMs in the market including Boeing, Lockheed Martin, and Raytheon.
Polaris Market Research has segmented the aerospace fasteners market report on the basis of product, material, aircraft, application, and region:
Aerospace Fasteners, Product Outlook (Revenue – USD Billion, 2016 – 2028)
- Nuts & Bolts
Aerospace Fasteners, Material Outlook (Revenue – USD Billion, 2016 – 2028)
Aerospace Fasteners, Aircraft Outlook (Revenue – USD Billion, 2016 – 2028)
- Narrow-body Aircraft
- Wide-body Aircraft
- Regional Jet
- General Aviation
- Military Aircraft
Aerospace Fasteners, Application Outlook (Revenue – USD Billion, 2016 – 2028)
- Control Surfaces
- Landing Gear
- Wheels & Brakes
Aerospace Fasteners, Regional Outlook (Revenue – USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa