The latest report by IMARC Group, titled "Aerospace Fasteners Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," finds that the global aerospace fasteners market size reached US$ 6.7 Billion in 2022. Aerospace fasteners are hardware tools that mechanically join two or more components together. They are durable and secure and enhance efficiency while reducing the overall weight of an aircraft. They include screws, rivets, nuts, bolts, and pins that are manufactured using titanium, aluminum, and steel and offer high tensile strength and corrosion resistance. In addition, they are used to create non-permanent joints that can be removed without causing damage to the surrounding equipment. As a result, aerospace fasteners find extensive applications in military aircraft, rockets, ballistic missiles, and satellites.
Global Aerospace Fasteners Market Trends:
The market is primarily driven by the expanding civil aviation industry due to the inflating disposable incomes and growing urbanization across the globe. In addition, various airlines are heavily investing in premium cabin-interior products to enhance the overall flight experience of passengers, representing another major growth-inducing factor. Besides this, several manufacturers are using 3D printing and additive manufacturing (AM) technologies for producing aerospace components. This, coupled with the increasing utilization of superalloys that are more cost-effective and lightweight than other metals to manufacture these fasteners, is also contributing to the market growth. Moreover, the implementation of favorable government policies to improve air transport infrastructure and the increasing space exploration activities are creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 9.5 Billion by 2028, exhibiting a CAGR of 5.8% during the forecast period (2023-2028).
- Based on the product type, the market has been classified into rivets, screws, nuts and bolts, washers, and others.
- On the basis of the material type, the market has been categorized into aluminum, alloy steel, titanium, and others.
- Based on the application, the market has been segmented into interior, control surfaces, and fuselage.
- On the basis of the aircraft type, the market has been segregated into narrow-body aircraft, wide-body aircraft, very large aircraft, fighter jets, and others.
- Based on the end use sector, the market has been classified into commercial, defense, and others.
- Region-wise, the market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being 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, and Ho-Ho-Kus, Inc.
|Base Year of the Analysis
||Product Type, Material Type, Application, Aircraft Type, End-Use Sector, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||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 and Ho-Ho-Kus Inc
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