NEW YORK, Oct. 4, 2016 /PRNewswire/ -- "Increasing aircraft orders is a major factor driving the aerospace fasteners market globally''
The aerospace fasteners market is projected to grow from USD 5.49 billion in 2016 to USD 7.73 billion by 2021, at a CAGR of 7.08%. Factors influencing the growth of this market include the rise in aircraft orders due to the growth in air transport in emerging economies. The growth of aerospace fasteners market is directly proportional to the health of the airline industry. Due to application specific requirements of raw materials and limited number of suppliers, raw materials management is a burning issue for aerospace fastener manufacturers.
"Wide body aircraft segment is projected to be the fastest-growing segment during the forecast period"
Increased efficiencies and lower oil prices have saved the airline industry tens of billions of dollars. The airline industry also produced record breaking operating results in terms of profits and increased efficiencies, which have resulted in increased implementation of new aircraft. In the next 10 years, the number of wide body airplanes entering the replacement zone will double.
"Nuts & bolts segment is projected to be the fastest-growing segment during the forecast period"
With the rise in aircraft orders in emerging regions such as Asia–Pacific and also in North America and Europe, the requirement for aerospace fasteners is high. Maintenance activities for existing aircraft fleet will also lead to increased demand of aerospace fasteners. Nuts & bolts are used extensively during manufacturing and maintenance process as they have high tensile strength and their ability to affix critical structural components together. Owing to this, the nuts & bolts segment is projected to be the fastest-growing segment during the forecast period.
"Europe is estimated to be the largest market while Asia-Pacific is projected to be the fastest-growing market during the forecast period"
Considering the number of suppliers for aircraft components in European countries, it is estimated to be the largest market for aerospace fasteners during the forecast period. On the other hand, Asia-Pacific region is projected to be the fastest-growing market during the forecast period owing to the presence of emerging economies, increased air travel, and rising demands for aircraft.
Following is the break-up of primary interviews conducted for research study:
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C level – 35%, Director level – 25%, and Others – 40%
- By Region: North America - 45%, Europe – 30%, APAC – 20%, RoW – 5%
The ecosystem of the aerospace fasteners market comprises raw material suppliers; OEMs (component manufacturers) such as Alcoa Fastening Systems & Rings (U.S.), LISI Aerospace (U.S.), Precision Castparts Corp. (U.S.), Stanley Black & Decker Inc. (U.S.); airplane manufacturers such as Boeing (U.S.), Airbus (France), Bombardier (Canada), Embraer (Brazil), Comac (China), Dassault Systèmes (France), among others; and end users.
Market segments covered under the aerospace fasteners market are:
- By Product (Rivets, Nuts & Bolts, Screws, Others)
- By Application (Fuselage, Control Surfaces, Interior)
- By Aircraft Type ( NBA, WBA, VLA, Regional Jets, Business Jets, Fighter Jets)
- By End User (Commercial, Defense)
- By Material Type (Aluminum, Titanium, Alloy Steel, Others)
Reasons to Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis —industry analysis (industry trends, market share analysis of top players, value chain analysis, and company profiles), which together comprise and discuss basic views on competitive landscape, emerging and high-growth segments of the aerospace fasteners market, high-growth regions and countries, along with the market drivers, restraints, and opportunities.
The report provides insights into the following pointers:
- Market Penetration: Comprehensive information on fasteners offered by the top 10 market players
- Product Development/Innovation: Detailed insights on research & development activities and new product launches in the aerospace fasteners market
- Market Development: Comprehensive information about emerging markets - the report analyzes the markets for aerospace fasteners market across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aerospace fasteners market
- Competitive Assessment: In-depth assessment of market shares, strategies, and products of leading players in the aerospace fasteners market
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