The latest report by IMARC Group, titled “Aerospace Fasteners Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global aerospace fasteners market size reached US$ 6.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
Aerospace fasteners are essential components used in the aviation and aerospace industry to securely join various parts and structures of aircraft and spacecraft. These fasteners are essential in maintaining the structural integrity and safety of aerospace vehicles. Some commonly known aerospace fasteners include bolts, screws, rivets, and nuts, each developed for specific applications. They are typically manufactured with materials such as titanium or stainless steel, chosen for their high strength-to-weight ratio and resistance to corrosion. Additionally, aerospace fasteners are subject to strict quality and performance standards to withstand extreme conditions such as high altitudes, rapid temperature changes, and intense vibrations. As a result, aerospace fasteners are gaining immense traction across the globe.
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Aerospace Fasteners Market Trends and Drivers:
The aerospace fasteners market is primarily driven by the growing aerospace industry. In addition, the increasing air travel, rising defense budgets, and the growth of space exploration initiatives are escalating the demand for aerospace fasteners as they are essential components in constructing aircraft, spacecraft, and defense systems, thus influencing the market growth. Moreover, continuous technological advancements and the development of fasteners with improved strength, durability, and weight-saving features enhance the overall performance and safety of these products, thus representing another growth-inducing factor. Besides this, the rising maintenance and repair of aircraft and spacecraft activities are escalating the demand for fasteners to replace worn or damaged parts, thus accelerating the product adoption rate. Along with this, manufacturers often rely on complex global supply chains for efficient functioning, requiring a steady and reliable flow of fasteners, thus raising the demand for aerospace fasteners. Furthermore, the implementation of several safety government policies to use high-quality, reliable fasteners to meet stringent safety regulations led companies to invest in advanced fasteners, thus creating a positive market outlook.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Rivets
- Screws
- Nuts and Bolts
- Washers
- Others
Breakup by Material Type:
- Aluminium
- Alloy Steel
- Titanium
- Others
Breakup by Application:
- Interior
- Control Surfaces
- Fuselage
Breakup by Aircraft Type:
- Narrow Body Aircraft
- Wide Body Aircraft
- Very Large Aircraft
- Fighter Jet
- Others
Breakup by End-Use Sector:
- Commercial
- Defence
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 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
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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