Aerospace Fasteners Market: Expected To Grow At The Highest CAGR During The Forecast Period 2019 - 2027

Aerospace Fasteners Market: Introduction

  • Aerospace fasteners are the hardware components or devices that are used to mechanically combine two or more objects together or to connect parts of an aircraft during aftermarket servicing and original equipment manufacturing.
  • Aerospace fasteners are usually employed in military aircrafts, commercial aircrafts, rockets and ballistic missiles, aftermarket service, and their parts and components.
  • The aerospace industry uses a different range of aerospace fasteners such as bolts, screws, nuts, rivets, pins, and hi-locks.
  • Aerospace fasteners are manufactured under strict government standards and regulations. Manufacturers of aerospace fasteners design aerospace fasteners as high strength and lightweight metallurgical structures in order to provide better reliability rate and life along with better fuel efficiency of the aircraft.

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Key Drivers of Aerospace Fasteners Market

  • Rise in demand to reduce an aircraft’s weight and increase its efficiency is expected to boost the market globally.
  • Aerospace fasteners need to be strong, secure, and lightweight, hence, manufacturers have started developing aerospace fasteners from lightweight materials such as titanium. Titanium-alloy aerospace fasteners exhibit numerous properties such as corrosion resistance, high tensile and shear strength, high fatigue strength, and compatibility with carbon fiber-reinforced composite structure. Use of Ti-alloy aerospace fasteners has been increased due to its properties, which is likely to boost the market in the near future.
  • Rise in additive manufacturing (AM) in the aerospace industry is further projected to drive the market in the next few years. This is primarily because additive manufacturing builds a 3D object by using computer-aided design (CAD) model. In addition, additive manufacturing allows rapid changes in internal features of the aircraft.