What is Global Aerospace Fasteners Market?
The Global Aerospace Fasteners Market is a vast and dynamic sector that plays a crucial role in the aerospace industry. These fasteners, which include a variety of screws, bolts, and rivets, are used to assemble and hold together different parts of an aircraft. The market for these essential components is global in nature, encompassing manufacturers, suppliers, and consumers from all corners of the world. The value of this market was estimated to be US$ 3489.9 million in 2022, a figure that is expected to rise to US$ 4871.8 million by 2029. This projected growth, which represents a Compound Annual Growth Rate (CAGR) of 4.0% from 2023 to 2029, is driven by various factors such as technological advancements, increasing demand for new aircraft, and the need for regular maintenance and replacement of parts in existing aircraft. The market is dominated by three major players - PCC, Howmet Aerospace, and LISI Aerospace, who collectively hold about 70% of the market shares. The United States is the largest consumer of aerospace fasteners, accounting for nearly 57% of the global consumption. In terms of product types, threaded fasteners are the most popular, making up over 80% of the market.
Threaded Fasteners, Non-Threaded Fasteners in the Global Aerospace Fasteners Market:
Aerospace fasteners can be broadly categorized into two types - threaded fasteners and non-threaded fasteners. Threaded fasteners, which include screws, bolts, and nuts, are the most commonly used type, accounting for over 80% of the market. These fasteners are preferred for their strength and durability, as well as their ability to withstand high levels of stress and pressure. They are used in various parts of an aircraft, including the fuselage, wings, and engines. Non-threaded fasteners, on the other hand, include rivets, pins, and clips. These fasteners are typically used in areas where ease of assembly and disassembly is a priority. Despite their lower market share, non-threaded fasteners are still essential components in the construction and maintenance of aircraft. The choice between threaded and non-threaded fasteners depends on various factors, including the specific requirements of the application, the materials being fastened, and the expected load and stress conditions.
Civil, Military in the Global Aerospace Fasteners Market:
The Global Aerospace Fasteners Market serves two main sectors - civil and military. In the civil sector, these fasteners are used in the construction and maintenance of commercial aircraft, private jets, and civil helicopters. The demand in this sector is driven by factors such as increasing air travel, the need for fleet expansion and modernization, and the ongoing replacement of aging aircraft. In the military sector, aerospace fasteners are used in the assembly and upkeep of fighter jets, transport aircraft, and military helicopters. The demand in this sector is influenced by factors such as defense budget allocations, military modernization programs, and the need for reliable and durable components in military aircraft. Despite the differences in their specific needs and challenges, both sectors rely heavily on aerospace fasteners for the safe and efficient operation of their aircraft.
Global Aerospace Fasteners Market Outlook:
In conclusion, the Global Aerospace Fasteners Market is a vital part of the aerospace industry, with a wide range of applications in both civil and military sectors. The market is expected to grow at a steady pace in the coming years, driven by increasing demand for new aircraft and the need for regular maintenance and replacement of parts in existing aircraft. With major players like PCC, Howmet Aerospace, and LISI Aerospace leading the way, the future of this market looks promising.
| Report Metric | Details |
| Report Name | Aerospace Fasteners Market |
| Accounted market size in 2022 | US$ 3489.9 in million |
| Forecasted market size in 2029 | US$ 4871.8 million |
| CAGR | 4.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Precision Castparts Corp, Howmet Aerospace, LISI Aerospace, AVIC, TriMas Corporation, Paolo Astori, MS Aerospace, Stanley Black & Decker, CASC, Ateliers de la Haute Garonne, NAFCO, Bollhoff, Poggipolini, Gillis Aerospace |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
