Aerospace Fasteners Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Aerospace Fasteners Market Manufacturers and Market is Segmented by Application (Commercial Aircraft, Military Aircraft, and General Aviation), Material (Aluminum, Steel, Superalloys, and Titanium), and by Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Market Size and Forecasts Are Provided in Terms of Value (USD Million) for All the Above Segments.

Aerospace Fasteners Market Size

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Aerospace Fasteners Market Summary
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Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR > 2.60 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Aerospace Fasteners Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Aerospace Fasteners Market Analysis

The aerospace fasteners market is expected to register a CAGR of more than 2.6% during the forecast period.

The global aviation sector has faced unmatched challenges due to the COVID-19 pandemic. The restrictions from the government led to supply chain disruptions, reduced demand for aircraft parts, and production halt from aircraft OEMs. The aviation sector has witnessed a strong recovery after the pandemic due to increased air passengers and a relaxation in travel restrictions.

Factors like the increasing number of orders for new aircraft and the need to increase the aircraft production rate are likely to create a demand for aircraft fasteners. Growing air traffic worldwide, rising aircraft modernization programs, and increasing spending on procuring new aircraft are driving market growth. Furthermore, rising investments by the airlines in interior cabin products to enhance passengers' experience are expected to boost market growth in the coming years.

In the global market forecast report for 2022, Airbus projected that there would be demand for 39,490 new passengers and freighter aircraft over the next 20 years. Out of the 39,490 aircraft, the OEM predicts that 31,620 or 80% will be typically single-aisle, and 7,870 will be typically widebody. Thus, increasing demand for new aircraft is expected to create demand for aerospace fasteners.

Aerospace Fasteners Market Trends

This section covers the major market trends shaping the Aerospace Fasteners Market according to our research experts:

Commercial Aircraft Segment Will Showcase Remarkable Growth During the Forecasts Period

Commercial aircraft are projected to show significant growth during the forecast period. There are more than one million fasteners used in commercial aircraft. The rising number of air travelers, growing expenditure on aircraft upgradation contracts, and increasing commercial aircraft deliveries are driving the market growth. The International Air Transport Association (IATA) projected that the overall number of air passengers will reach 4 billion by 2024. Furthermore, the Federal Aviation Administration forecasted that the number of United States airline passengers will reach 1.28 billion by 2038.

Global aircraft original equipment manufacturers (OEMs) such as Airbus, Boeing, Embraer, Bombardier, and others have received increasing aircraft orders after the COVID-19 pandemic. In 2021, Airbus delivered 611 commercial aircraft to 88 customers, while Boeing delivered 340 commercial aircraft. Thus, the growing number of commercial aircraft deliveries and new orders for aircraft OEMs create demand for aerospace fasteners, driving the market's growth.

Aerospace Fasteners Market - Aircraft Deliveries Worldwide, Airbus (in Units), 2016-2021

Asia-Pacific is Expected to Show Highest Growth During the Forecast Period

Asia-Pacific is estimated to show remarkable growth during the forecast period. The growth is due to rising cargo traffic, a growing number of airports, and increasing expenditure on the aviation sector from emerging economies, such as China and India. The rapid expansion of the aviation sector and growing urbanization are expected to create further demand for new aircraft, driving the market growth.

For instance, in February 2020, the Indian government announced that 100 new airports would be built by 2024. Also, the IATA report stated that China would surpass the United States and become the largest aviation market. In contrast, India will surpass the United Kingdom to become the third-largest aviation market in 2024.

Additionally, growing expenditure on the procurement of military aircraft from India and China is expected to boost the market growth. The Indian Air Force is planning to procure 114 fighter jets, out of which 96 will be built in India under the Atmanirbhar scheme. In August 2021, Raghu Vamsi, an Indian aircraft component manufacturing company, signed a contract with Boeing to supply critical aviation components. The company manufactures aerospace fasteners, gears, sheet metal fabrication, and others. Hence, the rising demand for aerospace fasteners due to the growing demand for new aircraft is expected to propel the market growth across the Asia Pacific region.

Aerospace Fasteners Market - Growth Rate by Region, (2022-2027)

Aerospace Fasteners Industry Overview

The aerospace fasteners market is moderately consolidated in nature. It is characterized by a few suppliers providing various types of aerospace fasteners. Some prominent aerospace fasteners market players are Stanley Black & Decker Inc., LISI Aerospace, Arconic, Precision Castparts Corp., 3V Fasteners, and others.

With the growing competition in the industry, manufacturers of aerospace fasteners are focusing on developing lightweight aircraft components and introducing advanced technologies such as 3D printing. For instance, in October 2021, LISI Aerospace introduced Markforged Composite 3D printers to optimize the faster manufacturing of high-quality fasteners for the aerospace sector.

Aerospace Fasteners Market Leaders

  1. Stanley Black & Decker Inc

  2. Arconic Inc

  3. 3V Aerospace

  4. LISI Aerospace

  5. Precision Castparts Corp.

*Disclaimer: Major Players sorted in no particular order

Aerospace Fasteners Market Concentration
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Aerospace Fasteners Market News

In August 2021, National Aerospace Fasteners Corporation (NAFCO) acquired the certification as a skilled aerospace forging supplier through Safran Aircraft Engines. NAFCO is qualified in developing aviation products with fabrics ranging from iron-based to cobalt-based & nickel-based high-temperature superalloys.

In March 2021, LISI AEROSPACE signed an extension contract with the Boeing Company to provide nearly 6,000 different part numbers in support of all Boeing commercial programs (Boeing 737, 747, 767, 777, and 787).

Aerospace Fasteners Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Commercial Aircraft

      2. 5.1.2 Military Aircraft

      3. 5.1.3 General Aviation

    2. 5.2 Material

      1. 5.2.1 Aluminum

      2. 5.2.2 Steel

      3. 5.2.3 Superalloys

      4. 5.2.4 Titanium

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 South Africa

        4. 5.3.5.4 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share**

    2. 6.2 Company Profiles

      1. 6.2.1 3V Fasteners Company Inc. (Consolidated Aerospace Manufacturing LLC)

      2. 6.2.2 Arconic Inc.

      3. 6.2.3 B&B Specialties Inc.

      4. 6.2.4 LISI Aerospace

      5. 6.2.5 KLX Aerospace (Boeing)

      6. 6.2.6 BUFAB

      7. 6.2.7 TriMas

      8. 6.2.8 Berkshire Hathaway Inc. (Precision Castparts Corp.)

      9. 6.2.9 NAFCO

      10. 6.2.10 TFI Aerospace

      11. 6.2.11 FSL Aerospace

      12. 6.2.12 Stanley Black & Decker Inc.

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Aerospace Fasteners Industry Segmentation

The aerospace fasteners include rivets, screws, nuts, bolts, clamps, and aircraft fittings in the various parts of an aircraft. The military segment includes fighter jets and attack helicopters. The general aviation segment includes turboprops, business jets, civil helicopters, and piston-engine aircraft. The report study excludes the use of fasteners in space applications.

The aerospace fasteners market is segmented based on application, technology, and geography. By application, the market is segmented into commercial aircraft, military aircraft, and general aviation. By material, the market is segmented into aluminum, steel, superalloys, and titanium. The market sizing and forecasts are provided in value USD million.

Application
Commercial Aircraft
Military Aircraft
General Aviation
Material
Aluminum
Steel
Superalloys
Titanium
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle East and Africa
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Aerospace Fasteners Market Research FAQs

The Aerospace Fasteners Market is projected to register a CAGR of greater than 2.60% during the forecast period (2024-2029)

Stanley Black & Decker Inc, Arconic Inc, 3V Aerospace, LISI Aerospace and Precision Castparts Corp. are the major companies operating in the Aerospace Fasteners Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Aerospace Fasteners Market.

The report covers the Aerospace Fasteners Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Aerospace Fasteners Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Aerospace Fasteners Industry Report

Statistics for the 2024 Aerospace Fasteners market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aerospace Fasteners analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Aerospace Fasteners Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)