Aerospace Fasteners Market Size, Share & Industry Analysis, By Material (Aluminum, Steel, Superalloys, and Titanium), By Product (Rivets, Screws, Nuts & Bolts and others), By Platform (Fixed-wing aircraft (Commercial Aircraft, Business Aircraft, Military Aircraft, and General Aviation Aircraft) and Rotary-wing Aircraft (Civil Helicopter and Military Helicopter)), and Regional Forecast 2019-2026

KEY INDUSTRY INSIGHTS

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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.

The aerospace fasteners mainly use in aircraft manufacturing and assembly process, and they are required primarily to join different aerostructures components, as these components generally assembled in various manufacturing locations. Due to this, the final assembly of the aircraft requires fasteners to join these components to build aircraft.

Also, the manufacturing of these aerostructures requires aircraft fasteners. The aerostructures such as fuselage, nose, wings, empennage, flight control surfaces, nacelle & pylon, and interior fittings, also require fasteners in their manufacturing process, to provide integrity and strength to the aerostructures. Aerospace fasteners provide rigidity and firmness to the entire structure of the aircraft as a result of which it becomes critical component of aircraft structures. Aerospace fasteners include different hardware tools such as rivets, screws, nuts & bolts, and among other smaller components.    

In recent years, the global aviation sector has witnessed the highest demand for new aircraft deliveries. An increase in the number of flights, a rise in travel and tourism, and an increase in the demand and order bookings of new aircraft from commercial airlines are supporting the growth of aviation industry.

OEMs such as Boeing, Airbus, Bombardier, and Embraer are increasing their manufacturing capacity to meet the demand for new aircraft deliveries. The tier two and tier three suppliers of the Aircraft OEMs are also increasing their manufacturing and production capacity to match the exponential need for different aircraft systems and aircraft components.

The Aircraft OEMs are adopting 3D printing, advanced material, and aerospace robotics technologies to enhance their production capacity to reduce the backlogs in aircraft deliveries. These technologies are also being adopted by tier two and tier three suppliers of aircraft components.

Aircraft hardware manufacturers have also invested in these advanced technologies to boost the production capacity, the introduction of 3D printing and aerospace robotics in the manufacturing process of the aircraft fasteners is driving the aerospace fasteners market.

The aerospace fasteners commonly used in the manufacturing and assembly process of different aircraft platforms, these platforms cover, fixed-wing aircraft and rotary-wing aircraft. The fixed-wing aircraft covers commercial aircraft, business aircraft, general aviation aircraft, and military aircraft. The commercial aircraft such as narrow-body aircraft, wide-body aircraft, and very large aircraft. Whereas, the military aircraft covers fighter aircraft, combat aircraft, transport aircraft, and other military fixed-wing aircraft.

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The rotary-wing aircraft includes the commercial and civil helicopters in the aerospace fasteners market. The military helicopter covered under the rotary-wing aircraft includes combat helicopters and other multirole military helicopters. The market for the aerospace fasteners does not cover the scope of fasteners used on spacecraft, and Unmanned Aerial Vehicles (UAVs). These can be studied for the customized requirement with this report. 

MARKET DRIVERS

“The increasing aircraft deliveries globally is driving the Aerospace Fasteners Market”

One of the crucial and significant drivers for the Aerospace Fasteners market growth is the growing aircraft deliveries across the globe. Increasing air traffic due to global connectivity, the latest technologies in maintenance, repair, and overhaul (MRO) services, and increased procurement of commercial as well as business jets creates demand for aircraft. The rise in the aircraft deliveries requires additional hardware to support the manufacturing growth, thereby increase in the aircraft deliveries is driving the market.

“The growing defense budget for military applications to drive the Market”

The rise in the demand for military aircraft across the globe is supported by the increase in military spending on the procurement of new aircraft. Growing demand for military aircraft and fighter jets have boosted the manufacturing capacity of aircraft OEMs, such as Boeing, Lockheed Martin, Airbus, and among others, are requiring hardware to match the demand for military jets, the aircraft fasteners providers are also increasing their production capacity to meet the requirements of these OEMs.

Increased political tensions over border issues, rise in terrorist activities, and safety & security concerns lead to development in the military sector, which creates demand for fighter planes and helicopters. This increasing demand for military jets leads to a subsequent rise in the demand for aerospace fasteners.

Also, rapid technological advancements, higher spending on defense R&D, and up-gradation of design and engineering of military aircraft are driving that market. Materials such as aluminum, steel, titanium, and superalloys are used to manufacture fasteners which provide high tensile strength, corrosion-resistant, and lightweight featured fasteners that give a reliable and improved performance of the military aircraft platforms.

SEGMENTATION

By Platform Analysis

“Increase in the production capacity of commercial aircraft is driving the market for aerospace fasteners”

Based on the platform, the aerospace fasteners market segmented into fixed wings aircraft and rotary-wing aircraft. The fixed-wing aircraft segment further analyzed for commercial aircraft, business aircraft, general aviation, and military aircraft. The commercial aircraft segment is studied for subtypes such as narrow-body aircraft, wide-body aircraft, and very large aircraft.

The fixed-wing aircraft segment holds significant shares in the aerospace fastener market and continues its domination during the forecast period. The rise in aircraft deliveries, growing demand for new aircraft from airlines, is driving that market. The rotary-wing aircraft is segmented further on military and civil helicopters. The market for helicopter fasteners is analyzed in the rotary-wing aircraft segment. 

By Product Analysis

“Increase in demand for rivets in the aerostructures is witnessing the growth of the market”

Based on product type, the aerospace fasteners market segmented into nuts & bolts, rivets, screws, and other aircraft hardware. An increase in the use of rivets in fuselage manufacturing and demand for rivets in exterior structures of the aircraft is anticipated to grow the rivets market. Screws, nuts & bolts are also witnessing the demand due to a rise in the application of this aircraft hardware in helicopters, general aviation aircraft, and other components of commercial and business jets.

The rivets, screws and nuts & bolts come in different sizes and shapes in the market, the products code and quantity of these materials is varying from each aircraft components; these components are now manufactured with additive technologies. Thus, the requirement for assembling these components will require customized fasteners. The rise in the adoption of additive technology in the aircraft manufacturing and assembly process will show disruptive growth of the market.

The OEMs of aerospace fasteners are manufacturing fasteners with the product quality guideline and aerospace-grade standards, as the requirement of high-quality products to provide strength to the aircraft, which ensures passenger security and safety. The importance of passenger security is high in the aviation industry, due to which OEMs are selecting their aerospace fasteners vendors with the long term planning on production, research & development, and design & engineering for different models of aircraft.

By Material Analysis

“Growing demand for titanium and superalloys for manufacturing aerospace fasteners is estimated to drive the market for titanium and superalloys material”

Based on material type, the aerospace fasteners market segmented into Aluminum, Steel, Superalloys, and Titanium. Increasing use of aluminum in fastener manufacturing due to its high tensile strength, corrosion-resistant, and lightweight features. The cost of the Aluminum is relatively cheaper than superalloys and titanium, due to which commercial aircraft manufacturers prefer aluminum fasteners.  

The titanium fasteners provide relative lightweight, heat resistance, and having capabilities of working under harsh environments. Thus, it shows a significant demand from military aircraft manufacturers. Whereas Superalloys such as A286, H-11, Hastelloy, Monel, and others used in the manufacturing of critical components such as aircraft engines, superchargers, landing gears and among others.

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Features of superalloys, such as high versatility, and surface integrity at temperature resistance is making them an ultimate solution over the requirement of temperature-sensitive components. Thus, the growing demand for these materials drives the aerospace fasteners industry during the forecast period.

REGIONAL ANALYSIS

North America in the aerospace fasteners market is having the largest market share and is projected to be dominant throughout the forecast period. North America is dominating the region, due to the presence of Aircraft OEMs such as Boeing (US), Bombardier (Canada), Textron (US) in the region. Furthermore, the improvement of advanced manufacturing techniques within the region, and rise in the R&D spending is growing the market for aerospace fasteners. 

The Asia Pacific region has the largest number of aerospace fasteners manufacturers, which are majorly supplying the fasteners to the aircraft OEMs based in Europe and North America. However, the increase in aircraft manufacturing facilities in the region is one of the prominent factors behind the market growth of the Asia Pacific region.

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The Asia Pacific is analyzed to remain the fastest developing area for fastener demand, followed by North America. Countries such as China, India, South Korea, and the rest of the Asia Pacific are expected to drive the growth of aerospace fasteners market in the region. The presence of Aircraft OEMs such as COMAC (China), Mitsubishi Aviation (Japan) will start deliveries of aircraft during the forecast period, is supporting the market growth.

Europe turned into the second-biggest market for aerospace fasteners in 2018, resulting from massive product demand from developed economies such as Germany, U.K., France, Russia, Italy, and others. European aerospace fasteners market is supported by the growth in the aircraft deliveries from the aircraft OEMs such as Airbus, Leonardo SPA, Russian Helicopters, Dassault Aviation and among others. Airbus is having its manufacturing units in different countries such as Germany, Spain, UK, and France is driving the demand for aerospace fasteners in these countries.

INDUSTRY KEY PLAYERS

“Market Players like 3V Fasteners Company, Arconic, Boeing Distribution Services Will Ensure to Strengthen the Market Position concerning Aerospace Fasteners products across the Globe”

The Aerospace Fasteners market is dominated by some key companies due to their strong product portfolio, key strategic decisions, and dominance of market share. These include a group of key companies with more widespread geographic presence and continued R&D resulting in strong regulatory approvals.  

Manufacturers are aiming to gain the top of the line enterprise boom by adopting strategies such as mergers & acquisitions, joint development, capability enlargement, design and engineering, long term contract & agreements, and sizable investments in R&D.

List Of Key Companies Covered

• 3V Fasteners Company, Inc.


• Arconic Inc.


• B&B Specialties Inc.


• Boeing Distribution Services


• HC Merchandisers, Inc. (HC Pacific)


• LISI Aerospace


• M.S Aerospace


• National Aerospace Fasteners Corporation


• Stanley Black & Decker, Inc.


• TFI Aerospace Corporation


• TPS Aviation Inc.


• Wurth Group

REPORT COVERAGE

An increase in the manufacturing capacity of the aerospace fasteners with the introduction of advanced manufacturing technologies such as 3D printing and aerospace robotics are supporting the growth of aerospace fasteners market. The market is analyzed for different products type, aircraft platforms, and material used by the aircraft fasteners OEMs. The market research covers the scope of different countries and regions, which are generating the demand for the market.

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Along with this, the report provides an elaborative analysis of the global market dynamics and competitive landscape for the key manufacturers of aerospace fasteners.

Report Scope & Segmentation

INDUSTRY DEVELOPMENT

• In June 2019,- TriMas Aerospace have signed long term contracts with Safran Nacelles and Sonaca Group to provide blind fasteners for their aircraft components and system.


• In December 2017- MW Industries expanded its product offerings for the aviation industry with the launch of MW Aerospace Solutions. The MW aerospace will offer springs, fasteners, and other related components to aerostructure manufacturers and Aircraft OEMs.