Aerospace Fasteners Market to Garner $11.31 Billion by 2030: The Brainy Insights

The expansion in demand for aerospace fasteners for defense systems in fighter jets & military helicopters, among other particular aircraft across the military air force, propels the aerospace fasteners market growth.

Newark, June 05, 2023 (GLOBE NEWSWIRE) -- The global aerospace fasteners market is expected to grow from USD 6.17 billion in 2021 to USD 11.31 billion by 2030, at a CAGR of 6.96% during the forecast period 2022-2030. The increasing aircraft modernization project in various nations and growing passenger willingness to fly by air are anticipated to boost demand for aerospace fasteners. Moreover, the growing import & export operations have resulted in higher air traffic, and the adoption of 3D & robotics technology supports the market's growth during the forecast period. Further, the increase in demand for aerospace fasteners for defense systems in military helicopters and fighter jets is also anticipated to boost the growth of the aerospace fasteners market.

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Report Coverage Details

Report Coverage

Details

Forecast Period

2023-2030

Base Year

2022

Market Size in 2022

USD 6.17 Billion

Market Size in 2030

USD 11.31 Billion

CAGR

6.96%

No. of Pages in Report

234

Segments Covered

The research segment is based on Application, Product Type, Material Type, Aircraft Type & Regions

Drivers

The surge in commercial aircraft production

Opportunities

Increasing adoption of 3D printing & robotics technology

Restraints

The high production cost

The cabin interior segment led the market with a market value of around 2.91 billion in 2021.

The application segment is divided into control surface, fuselage, and cabin interior. The cabin interior segment led the market with a market value of around 2.91 billion in 2021. This growth is attributed to the raised demand for progressive aircraft systems.

The rivets segment led the market with a market value of around 1.86 billion in 2021.

The product type segment is divided into screws, nuts & bolts, rivets, and others. The rivets segment led the market with a market value of around 1.86 billion in 2021. This growth is attributed to the emergence of 3D printing in aerospace manufacturing.

The aluminium segment led the market with a market value of around 1.98 billion in 2021.

The material type segment is divided into alloy steel, aluminium, titanium, and others. The aluminium segment led the market with a market value of around 1.98 billion in 2021. This growth is attributed to the growing aircraft fleet size and government spending on infrastructure development.

The commercial aircraft segment led the market with a market value of around 3.46 billion in 2021.

The aircraft type segment is divided into military aircraft and commercial aircraft. The commercial aircraft segment led the market with a market value of around 3.46 billion in 2021. This growth is attributed to the improvement in air network.

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Regional Segmentation Analysis:

The market is analyzed based on five regions namely North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The North America region emerged as the largest global aerospace fasteners market with a market value of around 2.78 billion in 2021. North America currently dominates the aerospace fasteners market, and this trend is expected to continue during the forecast period. This growth is attributed to the raised investment in military & defense.

Competitive Analysis:

The major players of market include 3V Fasteners Company Inc., Advanced Logistics for Aerospace, Accumen Global Technologies, Alcoa Fastening Systems & Rings, Avdel private limited, Allfast Fastening Systems, B&B Specialties, Inc., Bufab Group, Arconic, Ho-Ho-Kus Inc., EADS, B/E Aerospace, LISI Aerospace, Precision Castparts Corporation, National Aerospace Fasteners Corporation, TPS Aviation Inc., TFI Aerospace Corporation, and among others.

About the report:

The global aerospace fasteners market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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About The Brainy Insights:

The Brainy Insights is a market research company aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.

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