Next generation aircraft like A320 family, B787, B777X, and A380 constitute approx. 2.4 million to 3 million fasteners in an aircraft. The combined backlog of Boeing and Airbus as of today has an order book of close to 12,000 aircraft, representing between eight and 10 years' production. Majority of backlogs are for A320 family aircraft and B737Max. Thus, the demand for fasteners will significantly grow in the forecast period.
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Geographically, North America would be the largest market for aerospace fasteners in the forecast period. Whereas, APAC is likely to be the fastest growing market due to the significant increase in the number of aircraft and MRO opportunities in the region.
- In 2015, the Americas had the largest share of 45% in the market and is expected to lead with 40.5% market share by 2021
- APAC is likely to be the fastest growing market, due to the significant increase in the number of aircraft in the region
- Growing air traffic and aircraft utilization are the driving factors for Aerospace Fasteners Market
- Alcoa, 3V Fasteners, LISI Aerospace, B&B Specialties are the major vendors of Aerospace Fasteners Market
- By 2021, commercial aerospace is likely to have the market share of around 62%
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Key Players in Global Aerospace Fasteners Market
The leading market players in the Global Aerospace Fasteners Market primarily include :
- 3V Fasteners
- B&B Specialties
- LISI Aerospace
- STANLEY Engineered Fastening,
- Stanley Aerospace Fastening
- Acument Global Technologies
- Commercial and Military Aircraft OEMs
- Component and Raw Material Suppliers
- Service Suppliers
- Potential Investors
- Key executive (CEO and COO) and strategy growth manager
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Regional and Country Analysis of Aerospace Fasteners Market
As per the MRFR analysis, the Americas Aerospace Fasteners Market is poised to reach $XX billion in 2021, to grow at a CAGR of around 5% during the forecasted period. Whereas, EMEA and Asia Pacific will grow at a CAGR of around 7% and 12% respectively.
In 2014, more than 20,000 aircraft were in service globally, and this is likely to double in the next 20 years. By 2034, emerging regions like Asia and the Middle East are expected to have aircraft nearly 17,000 aircraft delivered. These factors will drive the market during the forecast period.
The report also covers country level analysis:
- Americas (North and Latin)
- Rest of Europe
- Asia – Pacific
- Australia/New Zealand
- Rest of Asia-Pacific
- Middle East & Africa
- Rest of middle East & Africa
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