Aerospace Fasteners Market Size Worth $7.05 Billion By 2028 | CAGR: 6.3%: Polaris Market Research

NEW YORK, Dec. 1, 2021 /PRNewswire/ -- The global aerospace fasteners market size is expected to reach USD 7.05 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a 6.3% Polaris Market Research. A rise in domestic and international tourist arrivals by air, increasing emphasis on improving assembly process efficiency, and major investments for improving air transport facilities are some of the key factors driving growth for a global market. Increasing government initiatives and regulations to enhance air travel facilities and major relief in the import duties for the manufacturers are working in the favor of the global market. Rising disposable incomes and continuously growing urbanization are further contributing to market growth.

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Key Highlights of Aerospace Fasteners Market

• By product, the nuts & bolts segment accounted for the largest revenue share and is projected to witness substantial growth in the coming years. They are widely used in a variety of application areas during assembly and MRO activities because of their great tensile strength and ability to glue essential structural components together.
• Based on aircraft type, the wide-body aircraft segment is anticipated to register the fastest growth over the forecast period. Wide-body aircraft are in high demand around the world because of their efficiency, greater passenger volume, and increased connection between key geographical sites in developing and developed regions.
• In terms of aircraft, the narrow-body aircraft emerged as the major revenue generator segment in the aerospace fasteners market and is predicted to grow ahead with the same trend. Increasing aircraft deliveries and a massive backlog of narrow-body aircraft order backlogs are assisting the segment to grow significantly.
• Collins Aerospace has announced the acquisition of Dutch Thermoplastic Components, a manufacturer of structural thermoplastic composite parts. Collins will use innovative thermoplastics to make airplanes lighter and more fuel-efficient as a result of this acquisition.

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Regional Developments

North America is the leading manufacturer and supplier of these fasteners, followed by Europe. During the forecast period, Asia-Pacific countries such as India, China, Indonesia, and Japan would be the top aircraft buyers. Asia-Pacific countries have begun to seek a percentage of aircraft manufacturers' industrial activities for them to improve their industrial technology. Asia-Pacific is an emerging area that is poised to take the lead in the market in the near future. High investments in various infrastructural and technological components have enabled manufacturers of Aerospace Fasteners to supply strong quality goods to end-users while meeting high demand.

Competitive Outlook

Contracts with aircraft manufacturers are often long-term, making it difficult for other companies to establish themselves in the aerospace fasteners market due to the limited number of aircraft manufacturers. Because the majority of the market's local players are private enterprises, it is difficult for competitors in the aftermarket to price their products competitively, making counter offers unfeasible. Key Companies : 3V Fasteners Company, Inc., Acument Global Technologies, Arconic Fastening Systems & Rings, B&B Specialties, Inc., Boeing Distribution Services Inc., HC Merchandisers, Inc., Howmet Aerospace Inc., LISI Aerospace, MS Aerospace, National Aerospace Fasteners Corporation, PCC Fasteners, Stanley Black & Decker, Inc., Stanley Engineered Fastening, TFI Aerospace Corporation, TPS Aviation, Inc., TriMas Corporation, and Wurth Group.

Target Audience

• Supply Side: Manufacturers of Aerospace and Industrial Fastener
• Demand Side: Aerospace Industry
• Regulatory Side: International Civil Aviation Organization

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Polaris Market Research has segmented the aerospace fasteners market report on the basis of product, material, aircraft, application, and region:

Aerospace Fasteners, Product Outlook (Revenue – USD Billion, 2016 – 2028)

• Screws
• Nuts & Bolts
• Rivets
• Pins
• Others

Aerospace Fasteners, Material Outlook (Revenue – USD Billion, 2016 – 2028)

• Aluminum
• Steel
• Titanium
• Superalloys

Aerospace Fasteners, Aircraft Outlook (Revenue – USD Billion, 2016 – 2028)

• Narrow-body Aircraft
• Wide-body Aircraft
• Regional Jet
• General Aviation
• Military Aircraft
• Spacecraft

Aerospace Fasteners, Application Outlook (Revenue – USD Billion, 2016 – 2028)

• Airframe
• Interiors
• Engine
• Control Surfaces
• Landing Gear
• Wheels & Brakes

Aerospace Fasteners, Regional Outlook (Revenue – USD Billion, 2016 – 2028)

• North America
• U.S.
• Canada
• Europe
• France
• Germany
• UK
• Italy
• Spain
• Netherlands
• Austria
• Asia Pacific
• China
• India
• Japan
• South Korea
• Indonesia
• Latin America
• Mexico
• Brazil
• Argentina
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Others

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SOURCE Polaris Market Research