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November 27, 2019 | Aerospace & Defense
The aerospace fasteners industry has been on the upswing ever since the first flight took off from the first flight airport (Kitty Hawk). Thereafter, the aerospace industry has never looked back and progressed persistently. The introduction and development of newer aircraft have given rapid propulsion to the market, this created a chain reaction for the adoption of modern aircraft.
Gestalt of Aerospace fasteners
The aerospace equipment and machinery is designed and created in such a way that it can endure extreme temperatures and pressures. Therefore, it requires a variety of customary fasteners that can withstand such an environment after take-off. Some of the fasteners that are essential in an aircraft are collars, screws, rivets, nuts, bolts, and pins. Apart from that, there are several other high-quality fasteners that are designed for different stipulations from the aerospace industry. Depending on the requirement aerospace fasteners are designed and developed.
Some of the characteristics of aerospace fasteners are mentioned below
A Metamorphose in Threaded Insert Design
Bollhoff, an international service provider and one of the leading manufacturers and suppliers of assembly, fastening, and systems technology around the world launched its first new design of Helicoil threaded insert known as Helicoil smart. Helicoil threaded inserts are widely used in hypercritical applications attributed to its repeated use, elongated resistance, quick installation, and long service life.
Helicoil was first originally used in 1954. It has advanced and innovated with time owing to the escalating demand from the manufacturing industry. The Helicoil has been favored and has also remained a preferred choice in many projects because of its high-performance threaded insertion. The launch of Helicoil smart will support the aerospace fasteners market owing to its construction which delivers, high-strength threads that transfer forces from flank to flank into the holding thread. The special feature of Helicoil smart is its exceptional blade position control for screwing in. The blade has a pull-in function, whereas for screwing out, it turns into a compression and bending tool for a new insert.
Acquisition of PennEngineering to Contribute Dynamic Benefits
PennEngineering, a world leader in fastening machinery and equipment, founded in 1942, acquired 3V Fasteners Company, Inc. (Corona, CA). 3V is an AS9100 accredited company founded in 1982, which is also approved by the U.S. Government QSLM. The company's products are distributed through a global network of recognized aerospace fastener distributors.
This acquisition is expected to benefit both the companies as they are integral in capabilities, synergies, and operations. This acquisition will subsequently enrich the position of the company in the aerospace fastener market. Meanwhile, PennEngineering's technical strong point will subsidize and strengthen 3V for its establishment in the industry. PennEngineering develops and manufactures PEM® fasteners, SI® inserts, Atlas® blind threaded inserts, and PEMSERTER® automatic and manual fastener-installation presses
Conclusion: Rising Emphasis on commercial Aviation to Boom the Aerospace Fasteners Market
An escalation in the number of flights and blossoming travel and tourism industry is upheaving the market for aerospace fasteners. The surge in order booking and demand for new aircraft from commercial airlines will contribute dynamically. According to the report, published by Fortune Business Insights. The global aerospace fasteners market size was valued at USD 2.81 billion in 2018 is projected to reach USD 3.74 billion by 2026, at a CAGR of 3.64% during the forecast period.
In addition, higher spending on R&D and rapid technological advancements along with upgradation in design and engineering of military air crafts will significantly aid in speedy growth.
Name-AMAN SINGH GANDHI
Aman is presently working as a content writer at Fortune Business Insights. His key focus is to deliver quality content to his audience. He specializes in blog writing, articles, and press releases. As a writer, he believes in learning and exploring different areas to communicate with his readers in the most effective manner.