PUNE, India, Oct. 6, 2016 /PRNewswire/ -- Market Research Future published a cooked research report on Global Aerospace Fasteners Market.
The aerospace industry use wide range of fasteners such as nuts, bolts, screws, rivets, pins and high locks during the making of aircraft and its parts. The factors driving the market growth are growing demand for aircraft, use of titanium fasteners, fleet utilization, and aircraft replacement has strengthen the line fit and retrofit Aerospace Fasteners Market. Market Research Future predicts the market to grow at a CAGR of around 7% during the forecast period, to reach $9 billion.
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.
Access the market data and information presented through data tables and figures spread 103 pages of the project report. Avail in-depth table of content (TOC) & market synopsis on "Global Aerospace Fasteners Market Research Report- Forecast to 2021"
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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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
Rest of Asia-Pacific
Middle East & Africa
Rest of middle East & Africa
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