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Aerospace Fasteners - Global Market Trajectory & Analytics

  • ID: 2228002
  • Report
  • February 2022
  • Region: Global
  • 418 Pages
  • Global Industry Analysts, Inc
Healthy Outlook for the World Commercial Aviation Industry Suggests Opportunities for Aerospace Fasteners

FEATURED COMPANIES

  • Allfast Fastening Systems
  • B&B Specialties, Inc.
  • Cherry Aerospace
  • Howmet Aerospace Inc.
  • LISI Aerospace S.A.S
  • M.S. Aerospace

Global Aerospace Fasteners Market to Reach US$8 Billion by the Year 2026


A mechanical device that affixes or joins objects together is known as a fastener. In simple terms, fasteners aid in keeping together sides of an opening. The aerospace sector uses variety of fasteners such as hi-locks, bolts, nuts, washers, rivets, collars, screws, spacers and pins. Growth in the global market is being driven by various encouraging factors including an expanding aircraft fleet size, increasing deliveries of regional and commercial aircraft, and growing share of wide-body aircraft in total deliveries, on the back of resurgence in passenger and air freight volumes. The market is also likely to gain from the growth in the defense sector, with growing orders for sophisticated military aircraft, rockets, missiles, and satellite technologies across geographies amid escalating geo-political tensions and intensified arms race in some parts of the world. At the same time, advancements in fastening technologies, roll out of high-corrosion-resistant and ultra-lightweight components, and growing importance of composites-compatible fasteners are expected to accelerate market demand. Fasteners are gaining from increasing number of space-related activities and ongoing transition of the industry from government-aided organizations such as NASA towards private players. The robust activity presents lucrative opportunities to companies offering high-quality, refined fasteners that can survive rigorous and harsh environments without compromising over performance.

Amid the COVID-19 crisis, the global market for Aerospace Fasteners estimated at US$5.4 Billion in the year 2020, is projected to reach a revised size of US$8 Billion by 2026, growing at a CAGR of 7.1% over the analysis period. Rivets, one of the segments analyzed in the report, is projected to grow at a 7.8% CAGR to reach US$3.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Screws segment is readjusted to a revised 7.2% CAGR for the next 7-year period. This segment currently accounts for a 27.8% share of the global Aerospace Fasteners market. While solid shank rivets gain traction in repair and assembly works, countersunk head rivets are preferred where smooth finish is required. Countersunk head rivets are currently being adopted as a standard in the US aerospace industry. The `screw` is the most common threaded fastener used in the modern day aircraft construction. There are three different types of aerospace grade screws - structural screws, machine screws and self-tapping screws.



The U.S. Market is Estimated at $1.7 Billion in 2021, While China is Forecast to Reach $941.2 Million by 2026


The Aerospace Fasteners market in the U.S. is estimated at US$1.7 Billion in the year 2021. The country currently accounts for a 32.3% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$941.2 Million in the year 2026 trailing a CAGR of 8.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 6.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7% CAGR while Rest of European market (as defined in the study) will reach US$1 Billion by the end of the analysis period. As the aerospace manufacturing hub, the US along with Canada houses established aerospace enterprises as well as fastener manufacturers. A key ongoing trend is the growing adoption of lighter grade fasteners amid roll out of stricter emission norms for aerospace industry. Significant increase in air travel and air cargo volumes in India, China, Brazil, Mexico, Saudi Arabia and the UAE are pressuring aerospace companies and tier players to establish local and regional production units, thereby propelling demand for aerospace fasteners.

Nuts Segment to Reach $1.4 Billion by 2026


Aerospace nuts and bolts besides increasing reliability and viability of vehicles also determine cost effectiveness of a component throughout its life cycle. The same materials used for the manufacture of bolts are also employed in making aerospace grade nuts. Commonly used nuts include plain nuts, self-locking nuts, castle nuts, anchor nuts and wing nuts. Most aerospace grade nut types have the requirement of a locking device to keep them in place, unless they are self-locking nuts. In the global Nuts segment, USA, Canada, Japan, China and Europe will drive the 5.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$832.3 Million in the year 2020 will reach a projected size of US$1.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$105.7 Million by the year 2026.

Select Competitors (Total 130 Featured) -

  • Allfast Fastening Systems
  • B&B Specialties, Inc.
  • Boeing Distribution Services
  • Cherry Aerospace
  • Howmet Aerospace Inc.
  • LISI Aerospace S.A.S
  • M.S. Aerospace
  • Monogram Aerospace Fasteners
  • National Aerospace Fasteners Corporation
  • Nylok LLC
  • Precision Castparts Corp.
  • STANLEY Engineered Fastening
  • TFI Aerospace Corporation
  • TPS Aviation Inc.
  • TriMas Corporation
Frequently Asked Questions about the Global Market for Aerospace Fasteners

What is the estimated value of the Global Market for Aerospace Fasteners?

The Global Market for Aerospace Fasteners was estimated to be valued at $5.4 Billion in 2020.

What is the growth rate of the Global Market for Aerospace Fasteners?

The growth rate of the Global Market for Aerospace Fasteners is 6.8%, with an estimated value of $8.0 Billion by 2026.

What is the forecasted size of the Global Market for Aerospace Fasteners?

The Global Market for Aerospace Fasteners is estimated to be worth $8.0 Billion by 2026.

Who are the key companies in the Global Market for Aerospace Fasteners?

Key companies in the Global Market for Aerospace Fasteners include Allfast Fastening Systems, B&B Specialties, Inc., Boeing Distribution Services, Cherry Aerospace, Howmet Aerospace Inc., LISI Aerospace S.A.S, M.S. Aerospace, Monogram Aerospace Fasteners and Nylok LLC.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Allfast Fastening Systems
  • B&B Specialties, Inc.
  • Cherry Aerospace
  • Howmet Aerospace Inc.
  • LISI Aerospace S.A.S
  • M.S. Aerospace

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Pandemic Dents Prospects in the Aviation Industry
  • COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020
  • Global Airlines Performance by Region: 2020 Vs 2019
  • Drop in Aviation Sector Impacts Demand for Aerospace Fasteners
  • Staged Recovery over Long-Term
  • Aerospace Fasteners – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Aerospace Fasteners: An Introductory Prelude
  • A Niche Segment within the Industrial Fasteners Industry
  • EXHIBITS: World Industrial Fasteners Market by End-Use Sector: 2020 & 2022P
  • Types of Fasteners in the Aerospace Industry
  • Materials Used
  • Market Outlook
  • Developed Regions: Primary Revenue Contributors
  • Developing Markets to Register Improved Growth
  • Growth Patterns in Commercial Aviation Sector to Guide Growth Opportunities
  • Global Commercial Airline Revenues (in US$ Billion) for the Years 2010. 2015, 2020, and 2025
  • Rise in Air Passenger Traffic and Demand for Modern Aircraft Present Long-term Growth Opportunities for the Market
  • Select Stats:
  • Global Aircraft Deliveries by Region: 2021-2040
  • Global Commercial Aircraft Fleet Projections: Breakdown of Fleet (in Units) by Region for 2019 and 2039
  • Competitive Landscape
  • Market Share of Leading Players in the Global Aerospace Fasteners Market: 2020
  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Latest Trends in the Fasteners Market
  • Demand for Light Weight Fasteners Continues to Rise
  • Titanium Evolves as an Important Fastener Material
  • New Lightweight Fasteners Set to Make Big Gains
  • Superalloys Gain Interest as the Lightweight Trend Picks Up
  • Fasteners Witness Strong Demand in Cabin Interiors
  • Miniature Fastener Types and Styles Emerge as a Key Trend as Demand for Small And Intricate Parts Increase
  • Rise in Development of Small Screw Insertion Systems
  • Advanced Tools Come to Fore in Fastener Manufacturing
  • Impact of Composites on Fasteners
  • Replacement Demand Supports Growth
  • Aircraft MRO Services Drive Opportunities
  • Global MRO Spending (In US$ Billion) by Segment for the Years 2020 & 2027
  • Defense Spending Patterns to Strengthen Growth Prospects
  • Defense Expenditure Worldwide in US$ Billion for the Years 2001 through 2020
  • Leading Countries Ranked by Defense Budgets in US$ Billion for 2020
  • Additive Manufacturing and 3D Printing Enter the Fasteners Ecosystem
  • Robots Set to Gain Adoption for Aircraft Assembly
  • Countersunk Head Rivets Gain Prominence in Smooth Finish Applications
  • Concerns over Viability & Safety of Secondary Locking Devices Bodes Well
  • Issues & Challenges
  • Tight Supply Chain Resulting in Extended Lead Times
  • Long-Term Supply Contracts Narrow Operating Margins for Ti Suppliers

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

MIDDLE EAST

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

AFRICA

  • Aerospace Fasteners Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 130
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Allfast Fastening Systems
  • B&B Specialties, Inc.
  • Boeing Distribution Services
  • Cherry Aerospace
  • Howmet Aerospace Inc.
  • LISI Aerospace S.A.S
  • M.S. Aerospace
  • Monogram Aerospace Fasteners
  • National Aerospace Fasteners Corporation
  • Nylok LLC
  • Precision Castparts Corp.
  • STANLEY Engineered Fastening
  • TFI Aerospace Corporation
  • TPS Aviation Inc.
  • TriMas Corporation
Note: Product cover images may vary from those shown