Global Aircraft Fasteners Market Research Report Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032: By Product Type (Screws, Rivets, Nuts & Bolts), By Material Based (Aluminum, Steel, Titanium, Superalloys), and Region (North America, Europe, Asia-Pacific, and Rest of the World)
The global aircraft fasteners market was valued at USD 8.42 billion in 2023 and is estimated to reach approximately USD 13.47 billion by 2032, at a CAGR of 5.3% from 2024 to 2032.
The market for aircraft fasteners, which includes a wide variety of specialized hardware required for aircraft assembly and maintenance, is an essential part of the aerospace manufacturing industry. These fasteners, which include nuts, bolts, rivets, and screws, are essential to maintaining the efficiency, safety, and structural integrity of airplanes. Innovations to achieve strict performance criteria and lightweight requirements are being seen in the market because of materials and manufacturing techniques developments. The need for dependable, high-quality fastening solutions is anticipated to increase as the aerospace sector grows internationally, creating growth and opportunity in the aviation fasteners market.
AIRCRAFT FASTENERS MARKET: REPORT SCOPE & SEGMENTATION
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Report Attribute |
Details |
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Estimated Market Value (2023) |
8.42 Bn |
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Projected Market Value (2032) |
13.47 Bn |
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Base Year |
2023 |
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Forecast Years |
2024 - 2032 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Product Type, By Material Based, & Region |
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Segments Covered |
By Product Type, By Material Based, & Region |
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Forecast Units |
Value (USD Billion or Million), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2024 to 2032 |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global Aircraft Fasteners Dynamics
The dynamics of the aviation fasteners market are influenced by a number of variables, including industry trends, legal requirements, and technical developments. Growth in the market is driven by the expanding aircraft sector, improved safety regulations, and rising demand for lightweight materials. Market expansion is also influenced by variables like the increase in air traveler traffic and fleet expansions. Obstacles include, but are not limited to, supply chain interruptions, volatile raw material prices, and strict quality standards. In order to fulfill changing industry needs and address these problems, fastener design, material, and manufacturing process innovations are being pursued. In general, the market for aircraft fasteners shows potential and durability in the face of a changing and cutthroat environment.
Global Aircraft Fasteners Drivers
The need for specialty fasteners is being driven by developments in aircraft design, such as the growing use of composite materials and unique structural layouts. Modern aviation components require fasteners with special qualities like corrosion resistance, lightweight, and high strength in order to be securely fastened. The airplane fasteners market is expected to increase as a result of designers pushing the limits of efficiency and aerodynamics and fastener makers having to constantly innovate to satisfy the changing needs of next-generation aircraft.
Growing defense spending around the world boosts the market for military aircraft, which in turn raises the requirement for specialty fasteners. Fasteners for military aircraft must be made to endure harsh environments and demanding operational requirements in order to maintain structural integrity and safety. The acquisition of cutting-edge aircraft by countries looking to bolster their defense capabilities is fueling the need for dependable and high-performing fastening solutions. As manufacturers provide novel and long-lasting fastening technologies to meet the demanding requirements of the defense industry, this trend drives the aviation fasteners market ahead.
Restraints:
It takes a significant financial commitment to materials research, testing, and certification procedures to create sophisticated fasteners that adhere to strict aviation regulations. Further driving up R&D costs are the intricacy of aeronautical engineering and the demand for ongoing innovation to meet changing industry requirements. The market expansion may be hindered by these high prices, which can also limit the ability of current players to launch new products and technologies and discourage smaller manufacturers from entering the industry.
Manufacturers of fasteners must undergo stringent testing, certification, and documentation procedures in order to comply with the strict restrictions established by aviation authorities. Fulfilling these requirements takes a lot of time and money out of product creation, which prevents smaller businesses from entering the market or from innovating. Further pressuring producers to maintain tight compliance and limiting market expansion is the possibility of expensive recalls or fines for noncompliance with regulations.
Opportunities:
There is a big potential for the airplane fasteners market due to the rising demand for lightweight fasteners. Lightweight materials are more important than ever to reduce aircraft weight as the aerospace industry focuses more and more on environmental sustainability and fuel efficiency. Reducing weight without sacrificing strength or safety is possible with fasteners composed of cutting-edge lightweight materials like titanium alloys and composite composites. Producing such fasteners gives manufacturers the opportunity to take a large portion of the market and propel industry growth.
The market for aviation fasteners has a significant opportunity due to the growing emphasis on Urban Air Mobility (UAM). There's a growing need for specialty fasteners that work with cutting-edge platforms like electric vertical takeoff and landing (eVTOL) aircraft as cities investigate new transportation options. By creating goods specifically designed to meet the needs of UAM cars, such as vibration-resistant, lightweight, and sturdy fasteners, fastener makers may take advantage of this trend and establish themselves as leaders in this rapidly growing sector.
Segment Overview
Based on product type, the global aircraft fasteners market is divided into screws, rivets, nuts & bolts. The rivets category dominates the market with the largest revenue share in 2023. Permanent fasteners known as rivets are used to firmly attach two or more components by generating a deformed rivet body. Typically composed of steel, titanium, or aluminum, aircraft rivets are inserted using specialized riveting equipment. Threaded fasteners, such as aircraft screws, are meant to be screwed into pre-drilled holes and tightened with a screwdriver or other similar instrument. Machine screws, self-tapping screws, and captive screws are among the several sizes and types of these screws. When two or more components are fastened together, nuts and bolts are paired fasteners made up of a matching nut and a threaded bolt.
Based on the material based, the global aircraft fasteners market is categorized into aluminum, steel, titanium, superalloys. The superalloys category leads the global aircraft fasteners market with the largest revenue share in 2023. High-performance materials called superalloys are designed to endure high pressure, temperatures, and mechanical stress. In applications with harsh operating conditions, including as turbine components, exhaust systems, and aircraft engines, they are frequently utilized. Titanium fasteners are perfect for aircraft applications where durability and weight reduction are crucial because of their combination of high strength, low density, and resistance to corrosion. Because of its exceptional strength and longevity, steel fasteners are a good choice for structural applications in airplanes, where severe loads and stress are present. Because they are corrosion-resistant and lightweight, aluminum fasteners are appropriate for non-structural aircraft applications where weight reduction is crucial.
Global Aircraft Fasteners Overview by Region
The global aircraft fasteners market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. North America emerged as the leading region, capturing the largest market share in 2023. Fasteners are in high demand in the manufacturing of both commercial and military aircraft because the area is home to some of the biggest aerospace manufacturers in the world, such as Boeing and Lockheed Martin. Furthermore, North America has a strong aerospace ecosystem with cutting-edge research centers, tech startups, and skilled labor, which supports ongoing product development and innovation in the fastener manufacturing industry.
Throughout the forecast period, Asia-Pacific is anticipated to post a significant CAGR. The area's economy is expanding quickly, which is driving up demand for air travel and, in turn, manufacturing of aircraft. Secondly, there is a growing market for military aircraft and associated parts, such as fasteners, due to growing defense spending in nations like China and India. Further supporting the projected expansion of the aviation fasteners market in Asia-Pacific is the region's increasing concentration of aerospace suppliers and manufacturers, as well as expenditures in aerospace infrastructure and supportive government policies.
Global Aircraft Fasteners Competitive Landscape
In the global aircraft fasteners market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.
Some of the prominent players in the global aircraft fasteners market include,
Global Aircraft Fasteners Recent Developments
Scope of the Global Aircraft Fasteners Report
Aircraft Fasteners Market Report Segmentation
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ATTRIBUTE |
DETAILS |
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By Product Type |
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By Material Based |
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By Geography |
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Customization Scope |
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Pricing |
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Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Intended Audience
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
