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Global Aerospace Fasteners Market to Grow Gradually; Greater Financial Support for R&D Activities and Rising Adoption of Cutting-edge Technologies to Spur Market Growth

August 21, 2023 | Aerospace & Defense

The Global Aerospace Fasteners market size is estimated to display strong growth by reaching USD 9.88 billion by 2030. Fortune Business Insights™ in its report titled “Aerospace Fasteners Market Size, Share & COVID-19 Impact Analysis, By Product (Rivets, Screws, Nuts & Bolts, and Others), By Material (Aluminum, Steel, Superalloys, and Titanium), By Platform Fixed-wing Aircraft (Commercial Aircraft, Business Aircraft, General Aviation Aircraft, and Military Aircraft) and Rotary-wing Aircraft (Military helicopters and Civil helicopters), and Regional Forecast, 2023– 2030” observes that the market size in 2022 stood at USD 5.37 billion and is expected to reach USD 6.09 billion in 2023. The market is expected to witness a strong CAGR of 7.16% during 2023-2030. The growing usage of rivets in the aviation and military industry are expected to drive market growth. Another reason that ramped up the demand for aerospace fasteners is the growing utility of rivets in the assembly of aero structures.


Stanley Black & Decker Introduced control-lock Tapes to Provide Maximum Durability


With an aim to provide maximum durability to users on the job site, Stanley Black & Decker, Inc. revealed control-lock tapes. These tapes come in a rugged design for maximum control and are equipped with integrated finger brakes. These tapes are lightweight in nature and comprise of 30-Ft., 16-Ft., 25-Ft., 8M/26-Ft, and 12-Ft., tapes are sold in recyclable packaging, marking a necessary step forward in lessening single-use plastic from this packaging style.


Disruption in the Manufacturing and Transportation Operations Obstructed the Market Growth


The consequences of the COVID-19 pandemic have had a telling impact on the industry growth due to the disruption in the manufacturing and transportation operations, which hampered the production. Despite the lowering exposure to COVID-19 cases, the market still has shown some turmoil. The incidence of the Russia-Ukraine war has led to a deficiency of important raw materials, which obstructed the demand for the fasteners to a great extent. Meanwhile, prominent industry players are adopting multiple strategies to penetrate the untapped areas to overcome the new challenges.


Adoption of Advanced Technologies to Increase the Product Demand


The rising demand for modern fixed-wing aircraft for carrying passenger loads and cargo have boosted the growth of the market. Accentuate demand for high-quality material fasteners and growing utilization of robotics technology in aero structure manufacturing are expected to drive aerospace fasteners market growth. Another reason that bolstered the demand for the product is the rising properties of titanium fasteners, such as high heat resistance capacity, high rigidity in harsh conditions, and low weight. Meanwhile, the increasing popularity of composite materials in the aviation industry could dent the growth.


Key Players Have Been Investing and Developing Advanced New Technologies


Market players such as LISI Aerospace, TriMas Corporation, HC Merchandisers, and National Aerospace Fasteners Corporation have been investing in new technologies by adopting corporate strategies such as mergers, acquisitions, collaborations, and partnerships. The Wurth Group and The Boeing Company are poised to lead the marketplace on account of their global presence.


Key Industry Development


September 2022:  In the small suburb of Algona (WA), a new manufacturing facility had introduced by The Boeing Company, namely the Boeing Additive Manufacturing Plant (BAM) with an aim to facilitate the production of tooling parts used on airplanes, drones, and the spacecraft.


List of Key Companies Profiled in the Market Report:


•          B&B Specialties Inc. (U.S.)


•          Boeing Distribution Services Ins. (U.S.)


•          HC Merchandisers, Inc. (HC Pacific) (U.S.)


•          Howmet Aerospace Inc. (U.S.)


•          LISI Aerospace (France)


•          M.S Aerospace (U.S.)


•          National Aerospace Fasteners Corporation (Taiwan)


•          Stanley Black & Decker, Inc. (U.S.)


•          TFI Aerospace Corporation (Canada)


•          TPS Aviation Inc. (U.S.)


•          TriMas Corporation (U.S.)


•          Wurth Group (Germany)


Further Report Findings



  • The market in North America stood at USD 2.16 billion in 2022 and captures the maximum part in the global aerospace fasteners market share. The dominance is attributed to the presence of top aircraft manufacturers such as Tetron, Boeing, and Bombardier.

  • Europe is likely to have a moderate CAGR owing to increased demand for aerospace fasteners from developed European countries.

  • Asia Pacific is also expected to have highest CAGR owing to growing number of OEMs in the aviation industry across the region.


Table of Segmentation 














































Global Aerospace Fasteners Market Scope



Study Period



2019-2030



Base Year



2022



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 7.16% from 2023 to 2030



Unit



Value (USD Billion)



Segmentation



By Products



  • Rivets

  • Screws

  • Nuts & Bolts

  • Others



By Material



  • Aluminum

  • Steel

  • Superalloys

  • Titanium



By Platform



  • Fixed-wing Aircraft

    • Commercial Aircraft

    • Business Aircraft

    • General Aviation Aircraft

    • Military Aircraft



  • Rotary-wing Aircraft

    • Military Helicopters

    • Civil Helicopters





By Region



  • North America (By Products, Material, Platform, and Country)




    • U.S. (By Platform)

    • Canada (By Platform)

    • Mexico (By Platform)


  • Europe (By Products, Material, Platform, and Country)


    • U.K. (By Platform)

    • Germany (By Platform)

    • France (By Platform)

    • Russia (By Platform)

    • Rest of Europe (By Platform)


  • Asia Pacific (By Products, Material, Platform, and Country)


    • India (By Platform)

    • China (By Platform)

    • Japan (By Platform)

    • South Korea (By Platform)

    • Rest of Asia Pacific (By Platform)


  • South America (By Products, Material, Platform, and Country)


    • Brazil (By Platform)

    • Argentina (By Platform)

    • Rest of South America (By Platform)


  • Middle East & Africa (By Products, Material, Platform, and Country)


    • UAE (By Platform)

    • Saudi Arabia (By Platform)

    • South Africa (By Platform)

    • Rest of Middle East and Africa (By Platform)



Aerospace Fasteners Market
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  • 2022
  • 2019-2021
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