Aerospace Fasteners Market to reach USD 3.74 Billion by 2026; Driven by the Growing Applications of Fasteners in Aircraft Manufacturing, says Fortune Business Insights
Aerospace fasteners are widely used in the assembly of various parts in aircraft manufacturing. Aerospace fasteners are used to join smaller parts such as integral parts of aerospace fasteners, flight control surfaces, interior fittings, nacelle and pylon, and other such parts. The properties of aerospace fasteners, coupled with their ability to provide rigidity and firmness to the structure of the aircraft will lead to an increase in the adoption of the device across the world.
The global aerospace fasteners market size is likely to drive growth from recent advancements in product manufacturing techniques. According to a report published by Fortune Business Insights, titled “Aerospace Fasteners Market Size, Share & Industry Analysis, By Material (Aluminum, Steel, Superalloys, and Titanium), Product (Rivets, Screws, Nuts & Bolts and others), By Platform (Fixed-wing aircraft (Commercial Aircraft, Business Aircraft, Military Aircraft, and General Aviation Aircraft) and Rotary-wing Aircraft (Civil Helicopter and Military Helicopter)), and Regional Forecast, 2015-2026,” the market was valued at USD 2.81 Billion in 2018 is projected to reach USD 3.74 Billion by 2026, at a CAGR of 3.64% during the forecast period.
The growing incorporation of advanced technologies in the manufacturing of aerospace fasteners has contributed to the increasing demand for aerospace fasteners in several countries across the world.The report on the aerospace fasteners market provides an in-depth analysis of the market with regard to factors such as product type, leading segment, and widely used application. The report classifies the global aerospace fasteners market based on factors such as platform, product type, material type, and regional demographics. Additionally, the report highlights leading segments from each of these categories and predicts segments that are likely to emerge leading in the coming years.
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List of the best companies that are operating in the global aerospace fasteners market are;
- 3V Fasteners Company, Inc.
- Arconic Inc.
- B&B Specialties Inc.
- Boeing Distribution Services
- HC Merchandisers, Inc. (HC Pacific)
- LISI Aerospace
- M.S Aerospace
- National Aerospace Fasteners Corporation
- Stanley Black & Decker, Inc.
- TFI Aerospace Corporation
- TPS Aviation Inc.
- Wurth Group
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Driven by Aircraft OEMs, North America Dominates the Global Market
Based on regional demographics, the global aerospace fasteners market is analyzed based on North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific. Among these regions, Fortune Business Insights has labeled out North America as the region that is currently dominating the global market.
The presence of aircraft OEMs has significantly contributed to the growth of the aerospace fasteners market in North America. Additionally, the adoption of advanced manufacturing techniques and the integration of latest concepts has aided the growth of the aerospace fasteners market in North America. As of 2018, the aerospace fasteners market was valued at USD 1,141.0 Million and is projected to rise at a healthy rate in the coming years.
Rivets Segment to Exhibit a High CAGR
Among the segments mentioned in the report, the rivets type will witness considerable growth in the coming years due to the massive demand for the product. The increasing adoption of rivets in manufacturing of fuselage will aid the growth of this segment.
Additionally, the use of rivets in the exterior structures of aircraft assembly will contribute to the growth of this segment. The variations in rivets, combined with their cost-effective nature will fuel the demand for this product, which in turn will contribute to the growth of this segment. Besides rivets, the screws, nuts, and bolts are likely to witness huge demand in the coming years, due to their growing applications in aircraft manufacturing.
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