Global Aerospace Fasteners Market

Global Aerospace Fasteners Market Size, Share, Growth Analysis, By Product(Nuts & Bolts, Rivets), By Material(Aluminum, Alloy Steel) - Industry Forecast 2023-2030


Report ID: SQMIG20A2089 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 63 | Figures: 77

Global Aerospace Fasteners Market Insights

Global Aerospace Fasteners Market size was valued at USD 4.90 billion in 2022 and is poised to grow from USD 5.28 billion in 2023 to USD 9.55 billion by 2031, growing at a CAGR of 7.70% during the forecast period (2024-2031).

Fasteners make up the majority of an aircraft's parts despite their modest size and classification as small C-Class items. For Instance, the Boeing B747 contains over six million parts, of which half are fasteners. The aerostructure is a crucial part of the aeroplane because aerospace fasteners give it stability and rigidity. Due to the continuously increasing air traffic in the high-growth area, the aviation industry has seen a significant demand for commercial aircraft. Aircraft producers like Bombardier, Boeing, Embraer, and Airbus are increasing their manufacturing capacity as a result to meet the demand for new aeroplane orders and to clear existing aircraft backlogs. In order to meet demand for diverse aircraft systems, the various aircraft part suppliers concentrate on speeding up production.

US Aerospace Fasteners Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 4.90 billion

Largest Segment

Rivets

Fastest Growth

Rivets

Growth Rate

7.70% CAGR

Global Aerospace Fasteners Market ($ Bn)
Country Share for North america Region (%)
Global Aerospace Fasteners Market By Product ($ Bn)
Global Aerospace Fasteners Market By Product (%)

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Global Aerospace Fasteners Market Segmental Analysis

Global Aerospace Fasteners Market is segmented on the basis of product, material and region. By product, the market is segmented into nuts & bolts, rivets, screws. By material, market is segmented into aluminum, alloy steel, titanium. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Aerospace Fasteners Market Analysis by Product

During the anticipated term, the rivets market will have strong demand. Due to its advantages over alternative fasteners, rivets are being used more frequently in the manufacture of aeroplanes, which is the cause of this expansion. Rivets have benefited such solid connectivity to aerostructure, high reliability when exposed to vibration, and time-consuming installation. Due to these benefits, rivets are predicted to become more and more popular for use in the assembly and construction of aerostructures, which will increase passenger safety.

Nuts and bolts are the most often utilized product that is certified and used in aero planes since they have been the industry standard for assembly and joining of different structures. They are widely used in a variety of application areas during assembly and MRO activities because they have a high tensile strength and may join important structural components.

Aerospace Fasteners Market Analysis by Material

Titanium is the dominant segment of the market in 2022. Since makers of aerostructures require more rigid and durable fastening, superalloy or titanium fasteners are more in demand. Numerous benefits, including great heat resistance, low weight, and high stiffness under adverse situations, are provided by titanium fasteners.

The fastest growing segment is Aluminum. Due to their high stiffness, light weight, and capability for corrosion resistance, aluminum fasteners are frequently used by aircraft OEMs to connect aircraft parts. In comparison to other types, aluminum fasteners are less expensive. As a result, the Aluminum material segment will hold a sizable portion of the market in 2022.

Global Aerospace Fasteners Market By Product, 2022 (%)

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Global Aerospace Fasteners Market Regional Insights

Due to the presence of renowned aircraft manufacturers like Textron, Boeing, and Bombardier in this region, the North American Aerospace Fasteners market sector will dominate this market. Additionally, the Region's adoption of state-of-the-art production methods and increased financial support for R&D projects add to the market expansion in North America.

During the projected period, it is anticipated that the Asia Pacific aerospace fasteners market will grow at the fastest rate. This increase is attributed to the growth and elevated OEM presence in the regional aviation industry. The rising aviation industry in the region is one of the apparent factors influencing market growth in the Asia Pacific. Asian countries are anticipated to hasten the rise of the regional market. In addition, the Asia-Pacific region's fastest-growing market for aerospace fasteners was India, which also had the greatest market share.

Global Aerospace Fasteners Market By Region, 2024-2031
  • Largest
  • Fastest

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Global Aerospace Fasteners Market Dynamics

Aerospace Fasteners Market Drivers

Increasing Aircraft Production to Bolster Sales

  • The growth of the global aerospace fasteners market is closely tied to the increasing production of commercial and military aircraft worldwide. As aircraft manufacturers strive to meet the rising demand for air travel and modernize their fleets, the need for aerospace fasteners to assemble and secure various components becomes essential. The expansion of the aviation industry, particularly in emerging economies, fuels the demand for aerospace fasteners.
  • With the industry's emphasis on fuel efficiency and reducing aircraft weight, there is a rising demand for lightweight aerospace fasteners. Lightweight fasteners help reduce the overall weight of the aircraft, leading to improved fuel efficiency and enhanced performance. The development of advanced materials and manufacturing techniques enables the production of lightweight fasteners without compromising strength and reliability.

Aerospace Fasteners Market Restraints

Long Certification Processes to Hinder Market Growth

  • Raw Aerospace fasteners need to undergo rigorous testing and certification processes to ensure compliance with industry standards and regulatory requirements. The certification process can be time-consuming and expensive, often involving extensive testing and evaluation. Delays in certification can hinder the introduction of new fastener products to the market, impacting manufacturers' ability to respond to customer demands in a timely manner.

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Global Aerospace Fasteners Market Competitive Landscape

Leading competitors use the creation of lightweight aerospace components with the capacity to withstand highly corrosive environments and bear necessary stress as their primary approach to achieve a competitive edge in the industry. Several mergers and acquisitions have taken place recently, gradually raising the market's level of consolidation.

Aerospace Fasteners Market Top Player’s Company Profiles

  • Precision Castparts Corp. (United States)
  • Stanley Black & Decker, Inc. (United States)
  • Alcoa Corporation (United States)
  • KLX Inc. (United States)
  • PCC Fasteners (United States)
  • B/E Aerospace (United States)
  • National Aerospace Fasteners Corporation (United States)
  • A Raymond Tinnerman (United States)
  • 3V Fasteners Company, Inc. (United States)
  • Consolidated Aerospace Manufacturing, LLC (United States)
  • National Rivet & Manufacturing Co. (United States)
  • Nippon Precision Fasteners Co., Ltd. (Japan)
  • SPS Technologies, LLC (United States)
  • TriMas Corporation (United States)
  • TFI Aerospace Corporation (United States)
  • MW Industries, Inc. (United States)
  • Allfast Fastening Systems, Inc. (United States)
  • Anixter International Inc. (United States)
  • Bossard Group (Switzerland)

Aerospace Fasteners Market Recent Developments

  • In August 2022, Safran Aircraft Engines granted National Aerospace Fasteners Corporation (NAFCO) the accreditation as a qualified supplier of aerospace forging. NAFCO has experience creating aircraft products using fabrics made of iron-, cobalt-, and nickel-based high-temperature superalloys.
  • In March 2022, Due to the robust EV market in India, fastener manufacturer Kotadia Inc. expects a rise in orders from Original Equipment Manufacturers (OEMs).

Global Aerospace Fasteners Key Market Trends

  • Increasing defence budgets worldwide contribute to the growth of the aerospace fasteners market. Defence forces invest in new aircraft, upgrades, and maintenance to enhance their capabilities. Aerospace fasteners are crucial components in military aircraft, ensuring their structural integrity and performance. The modernization programs of defence forces and the need to maintain a robust fleet drive the demand for aerospace fasteners in the defence sector.

Global Aerospace Fasteners Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analyses, the global aerospace fasteners market has witnessed steady growth over the years. The market's growth is primarily driven by the increasing demand for commercial and military aircraft, as well as the need for regular maintenance and repair of existing aircraft fleets. The market is expected to continue its growth trajectory, driven by factors such as expanding air travel, aircraft modernization programs, and the growth of the defence sector. Technological advancements play a crucial role in the aerospace fasteners market. Manufacturers are continually innovating to develop fasteners with improved strength, weight reduction capabilities, corrosion resistance, and ease of installation. Advanced fasteners with features such as self-locking mechanisms and lightweight materials are in high demand to meet the stringent requirements of modern aircraft designs. As the demand for air travel continues to rise and aircraft fleets evolve, the market is expected to witness sustained growth and innovation in the coming years.

Report Metric Details
Market size value in 2022 USD 4.90 billion
Market size value in 2031 USD 9.55 billion
Growth Rate 7.70%
Base year 2022
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Nuts & Bolts, Rivets, Screws
  • Material
    • Aluminum, Alloy Steel, Titanium
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Precision Castparts Corp. (United States)
  • Stanley Black & Decker, Inc. (United States)
  • Alcoa Corporation (United States)
  • KLX Inc. (United States)
  • PCC Fasteners (United States)
  • B/E Aerospace (United States)
  • National Aerospace Fasteners Corporation (United States)
  • A Raymond Tinnerman (United States)
  • 3V Fasteners Company, Inc. (United States)
  • Consolidated Aerospace Manufacturing, LLC (United States)
  • National Rivet & Manufacturing Co. (United States)
  • Nippon Precision Fasteners Co., Ltd. (Japan)
  • SPS Technologies, LLC (United States)
  • TriMas Corporation (United States)
  • TFI Aerospace Corporation (United States)
  • MW Industries, Inc. (United States)
  • Allfast Fastening Systems, Inc. (United States)
  • Anixter International Inc. (United States)
  • Bossard Group (Switzerland)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Aerospace Fasteners Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Aerospace Fasteners Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Aerospace Fasteners Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aerospace Fasteners Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aerospace Fasteners Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Aerospace Fasteners Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Aerospace Fasteners Market size was valued at USD 4.90 billion in 2022 and is poised to grow from USD 5.28 billion in 2023 to USD 9.55 billion by 2031, growing at a CAGR of 7.70% during the forecast period (2024-2031).

Leading competitors use the creation of lightweight aerospace components with the capacity to withstand highly corrosive environments and bear necessary stress as their primary approach to achieve a competitive edge in the industry. Several mergers and acquisitions have taken place recently, gradually raising the market's level of consolidation. 'Arconic Inc. (United States)', 'B&B Specialties, Inc. (United States)', 'LISI Aerospace (France)', 'Precision Castparts Corp. (United States)', 'Stanley Black & Decker, Inc. (United States)', 'Alcoa Corporation (United States)', 'KLX Inc. (United States)', 'PCC Fasteners (United States)', 'B/E Aerospace (United States)', 'National Aerospace Fasteners Corporation (United States)', 'A Raymond Tinnerman (United States)', '3V Fasteners Company, Inc. (United States)', 'Consolidated Aerospace Manufacturing, LLC (United States)', 'National Rivet & Manufacturing Co. (United States)', 'Nippon Precision Fasteners Co., Ltd. (Japan)', 'SPS Technologies, LLC (United States)', 'TriMas Corporation (United States)', 'TFI Aerospace Corporation (United States)', 'MW Industries, Inc. (United States)', 'Allfast Fastening Systems, Inc. (United States)', 'Anixter International Inc. (United States)', 'Bossard Group (Switzerland)'

The growth of the global aerospace fasteners market is closely tied to the increasing production of commercial and military aircraft worldwide. As aircraft manufacturers strive to meet the rising demand for air travel and modernize their fleets, the need for aerospace fasteners to assemble and secure various components becomes essential. The expansion of the aviation industry, particularly in emerging economies, fuels the demand for aerospace fasteners.

Increasing defence budgets worldwide contribute to the growth of the aerospace fasteners market. Defence forces invest in new aircraft, upgrades, and maintenance to enhance their capabilities. Aerospace fasteners are crucial components in military aircraft, ensuring their structural integrity and performance. The modernization programs of defence forces and the need to maintain a robust fleet drive the demand for aerospace fasteners in the defence sector.

Due to the presence of renowned aircraft manufacturers like Textron, Boeing, and Bombardier in this region, the North American Aerospace Fasteners market sector will dominate this market. Additionally, the Region's adoption of state-of-the-art production methods and increased financial support for R&D projects add to the market expansion in North America.

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