Aerospace Titanium Fasteners Market

Global Aerospace Titanium Fasteners(ASF) Market Size, Share, Growth Analysis, By Product(Nuts, Bolts), By End-user(Military Aircraft Manufacturers, Commercial Aircraft Manufacturers), By Application(Airframes, Engines) - Industry Forecast 2024-2031


Report ID: SQSG20A2007 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 92 | Figures: 76

Global Aerospace Titanium Fasteners(ASF) Market Insights

Aerospace Titanium Fasteners(ASF) Market size was valued at USD 0.71 billion in 2019 and is poised to grow from USD 0.76 billion in 2023 to USD 1.38 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).

Aerospace fasteners are used in aerostructures during the aircraft manufacturing process. Aerospace fasteners are required in the final aircraft assembly to transform different parts into a complete aircraft. The aerospace industry is extremely concerned with safety and weight. As a result, the fasteners used in aircraft construction are made of high-quality materials. Aerostructures such as the fuselage, wings, empennage, nose, pylon and nacelle, and flight control surfaces all require fasteners during the assembly process to add appeal and robustness to commercial and military aircraft designs. Aerospace fasteners give the aerostructure firmness and rigidity, making them an important aircraft component. Nuts and bolts, screws, rivets, and other fasteners are available on the market.

Due to consistently rising air traffic in the high-growth region, the aviation industry has seen high demand for commercial aircraft in recent years. As a result, aircraft manufacturers such as Bombardier, Boeing, Embraer, and Airbus are expanding their manufacturing capacity to meet the demand for new airplane orders and backlogs from previous aircraft. Different aircraft part suppliers are also focusing on accelerating production to meet the demands of various aircraft systems.

Due to the compatibility of the materials, increased titanium use in aircraft manufacturing is directly related to composite parts. The development of composite design, construction, and deployment is what is driving the market's rising demand. In the coming years, market growth is anticipated to be boosted by the growing demand for fuel-efficient aircraft. The engine is the most intricate component of an aircraft, contains the most unique parts, and ultimately affects fuel efficiency.

Heat-resistant superalloys, such as titanium alloys, Titanium 5553, which exhibit high strength, lightweight, and excellent corrosion resistance are projected to witness an increase in market demand to meet these temperature requirements of aircraft engines like lean-burn engines, with temperature potentials as high as (2,100°C).

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

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FAQs

Based on the Product, it was estimated that the MRO segment is experiencing high demand and generating the highest revenue in the forecasted period. 

The CAGR of the 3D glass market for the forecast year will be more than 6.9 %.

Aerospace Titanium Fasteners(ASF) Market size was valued at USD 0.71 billion in 2019 and is poised to grow from USD 0.76 billion in 2023 to USD 1.38 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).

In the Global Aerospace Titanium Fasteners Market, the key players are deploying various organic and inorganic growth strategies to survive market competition. The market for Aerospace Titanium Fasteners is concentrated and companies are leveraging strategic ways to provide superior products differentiated from others either based on quality or service. They are looking forward to expanding in potential regions that would elevate the market share in upcoming years. 'TriMas Corp.', 'National Aerospace Fasteners Corp.', 'Arconic Inc.', 'LISI Aerospace', 'Precision Castparts Corp. (PCC)', 'B&B Specialties, Inc.', 'TFI Aerospace Corporation', 'TECT Aerospace, Inc.', 'Park Aerospace Corp.', 'Aerospace Manufacturing Group, Inc.', 'B/E Aerospace, Inc.', 'Allfast Fastening Systems, Inc.', 'SPS Technologies, LLC', 'The Boeing Company', 'Airbus S.A.S.', 'Eaton Corporation', 'General Electric Company', 'Rolls-Royce Holdings plc', 'United Technologies Corporation', 'Safran SA'

The COVID-19 Pandemic had a substantial impact on the Global Aerospace Titanium Fasteners Market. The supply and transportation of materials was affected worldwide. Due to nationwide lockdowns and travel restrictions, aircraft production facility shutdowns, and disrupted aerospace industry due to material shortages. However, the by mid-2022 the orders for aircrafts materials has significantly increased. The key market players are enticed to pay attention towards growing segments ensuring significant surge along with maintaining the growth in other segments. These factors will enable high market share for Global Aerospace Titanium Fasteners Market in the forecasted period.

During the Estimation period, North America is expected to retain its dominance as the largest market for the Global Aircraft Titanium Fasteners. This owes to the presence of several large-to-small-sized aircraft manufacturers, titanium fasteners manufacturers, tier players distributors, and raw material suppliers. Early innovations and adoption of latest technologies paving way for the present as well as future advancements has made it the world’s manufacturing capital of the aircraft industry. As per the latest report 36% of the Global Aerospace Titanium Fasteners Market growth will be generated from North America. Gradually the technological trends have transmitted to other parts of the world like China and India.

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Aerospace Titanium Fasteners Market

Product ID: SQSG20A2007

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