Market Size of Aerospace Fasteners Industry
| Study Period | 2024 - 2029 |
| Market Size (2024) | USD 7.05 Billion |
| Market Size (2029) | USD 9.94 Billion |
| CAGR (2024 - 2029) | 7.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aerospace Fasteners Market Analysis
The Aerospace Fasteners Market size is estimated at USD 7.05 billion in 2024, and is expected to reach USD 9.94 billion by 2029, growing at a CAGR of 7.10% during the forecast period (2024-2029).
The utilization of aerospace fasteners in the assembly of aerostructures is of paramount importance in ensuring the safety and reliability of aircraft. These fasteners are purposefully designed to satisfy specific performance requirements, including high strength, durability, and resistance to corrosion and fatigue. Their primary function is to securely fasten various parts and components, thereby facilitating the structural integrity of the aircraft.
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. Rising investments by the airlines in aircraft cabin interior products to enhance passengers' experience are also expected to boost market growth in the coming years.
The aerospace fastener market is a highly competitive industry with a limited number of suppliers and manufacturers. This factor can hamper the growth of the market, albeit partially. Nonetheless, innovative companies have new opportunities for growth due to the increasing demand for advanced and lightweight fasteners. In addition, the adoption of advanced technologies in the aerospace industry generates the need for fasteners that are compatible with these new technologies. Such factors are expected to drive the demand for the market during the forecast period.
