Aerospace Fasteners Market Research Report - Global Forecast till 2030

Aerospace Fasteners Market Research Report: Information by Product (Nuts & Bolts, Rivets, Screws and others), Material (Aluminum, Alloy Steel, Titanium and others), Application (Fuselage, Control Surfaces and Interior), Aircraft Type (Commercial Aircraft and Military Aircraft), End User (Military and Commercial Aerospace) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2030

ID: MRFR/A&D/0632-CR | July 2019 | Region: Global | 134 Pages         

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Aerospace Fasteners Market

Aerospace Fasteners Market Size is expected to reach USD 7.74 Billion by 2030, registering a CAGR of 7.07% during 2020-2030.

By Product Type Nuts & Bolts Rivets Screws & others
By Material Type Aluminum Alloy Steel Titanium & others
By End-User Fuselage Control Surfaces & Interior
Key Players
Companies Profiled   3V Fasteners Company (US)    TriMas (US)   Alcoa Corporation (US)   Arconic Inc (US)    B&B SpecialtiesInc (US)    Ho-Ho-Kus Inc (US)   TFI Aerospace (Canada)   The Boeing Company (US)   National Aerospace Fasteners Corporation (Taiwan)
Market Driving Forces   Increasing Investments In Aviation Industry    Increase Overall Cost.
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Aerospace Fasteners Market Overview:

Aerospace Fasteners Market Size is expected to reach USD 7.74 Billion by 2030, registering a CAGR of 7.07% during 2020-2030.

Aerospace fasteners are the hardware that joins two or more things together. Aerospace fasteners are also the tools that attach aircraft parts during original equipment manufacturing and aftermarket maintenance. Safety and quality are two critical factors in the aircraft sector, and strict standards and regulations are in place to control the manufacturing and supply of aerospace fasteners.

As a result, obtaining compliance certification is required to become a supplier. The success of several sub-sectors, such as commercial, defence, and civil, determines the market for aerospace fasteners. In the aircraft sector, aerospace fasteners play a critical role in determining longevity, dependability, structural integrity, and design.

The market for aerospace fasteners is expanding as companies shift their focus to enhancing assembly process efficiency. Increased air travel by international and domestic tourists and government investments in enhancing air transportation facilities worldwide are driving demand for aerospace fasteners. Commercial and military aircraft segments focus on solidified defensive military aircraft, driving demand for new planes and increasing the need for aerospace fasteners.

The high cost of manufacturing aerospace fasteners and the high cost of raw materials is impeding the global market expansion. Furthermore, since the focus has shifted to lightweight fasteners, raw material costs have risen dramatically, and this aspect is expected to have a considerable impact on market growth.

Covid 19 analysis 

The covid 19 pandemics have caused several impacts on the global industries. The ongoing situation has caused a slowdown in the manufacturing process of aerospace fasteners. The availability of raw materials and overall supply has been affected. There are plenty of challenges for the market to fulfil the demand from various verticals. The key players of the market are taking several measures to manage this situation. Further, the manufacturing process is gradually resuming. The market trends remain stable in the upcoming years. Also, the overall market will have excellent growth opportunities post covid 19. Some of the aerospace industries are creating in-house raw material production to expand the market. All these factors provide a promising future for the aerospace fastener market. 

Market dynamics 

  • The crucial market drivers 

The market drivers will intensify enabling rapid growth for the aerospace industry. Consumer spending on aerospace fasteners is rising at an exponential pace. The aviation industry is spending more due to the high rate of air traffic and requirement for aircraft. Air travel is the fastest, comfortable and cost-effective travel option for many individuals. It requirement of aircraft's fuels the growth of the aerospace fasteners market. The need for commercial aerospace fasteners will grow more in the upcoming years. It will drive more demand and offer more profitability to the market.

Secondly, many governments are investing more in military products. The procurement of military aircraft is more in recent years. The rising evacuation and air military activities are another demand driving factor for the aerospace fastener market. Also, demand for military aircraft is massive in the forecast year. Due to this the aerospace industry is accelerating its production that ultimately provides more growth for the aerospace fastener industry. These two demand driving factors are crucial for the market during the forecast period. These market drivers are the significant reasons that will offer more growth and profitability for the global market. 

  • The market growth opportunities 

The aviation industry goes through plenty of technological advancements. 3D printing technology is a recent advancement in this technology. This robotic technology has proven advantageous for the aircraft industry. The adoption of 3D and robotics technology provides plenty of growth opportunities for the market. With this technology, the aerospace market can manufacture plenty of fasteners efficiently and effectively. It is a unique technology that enables mass production. Also, the technology can offer innovation, cost-effectiveness and efficiency to the aerospace fastener market. The growing technological advancements in the aerospace fastener market offer potential growth opportunities during the forecast period. 

  • The market restraints 

The fasteners for the aerospace industry require plenty of raw materials to meet the ongoing demand. Excellent quality titanium and other sturdy materials are required for aircraft fasteners manufacturers. However, there is a lack of raw material availability in this market. The other products required for fastener manufacturing is lightweight metals. It is another less available raw material for the manufactures. The lack of raw materials to manufacture tons of fasteners is a crucial limitation in this market. Without quality materials, the manufactures can only produce low life fasteners. However, the aerospace fasteners with corrosion resistance, 40% less hardware weight are preferred by the buyers. It causes several disruptions for the aerospace fasteners manufacturers. 

  • The market challenges 

The scarcity of raw materials in the market offer further challenges. Due to the less availability, the raw materials are expensive. Only some of the aerospace fasteners market manufacturers have enough funds to purchase these raw materials. The rising cost of raw materials increases the overall cost of a fully assembles aircraft. This ultimately affects the defence and civil system of a country. The high raw material cost makes the single fastener price high. It is causing several disruptions in the supply-demand chain of aerospace fasteners. 

  • The cumulative growth analysis 

The growth of the aerospace fastener market remains stable during the forecast period. The market has both exceptional growth opportunities and serious limitations. Amidst the drawbacks, the market growth looks promising. In the upcoming years, the adoption rate of aerospace fasteners will be substantial. However, there is a serious need to fix the lack of raw material and high cost in this market. Also, there is a serious need to accelerate the in-house raw material production of manufacture the aerospace fasteners. The key players of the market are taking cost-cutting measures and in-house raw material production facilities. All these aspects provide a positive growth analysis for the aerospace fasteners market. 

  • The value chain analysis 

North America holds the maximum aerospace fasteners market share. The dominance of this region will continue till the forecast year 2025. The high growth rate in this region is due to the top key market players. The well-established players have a top aerospace fasteners companies that has excellent production and supply facilities. Also, North America is known as the most technologically advanced region. The new version of aerospace fasteners is easily available. Also, the adoption rate of this tool is high in this region. The increasing investments in the aviation industry are another factor that propels the market growth. 

Market segment 

By product 

  • Rivets 

The rivet segment of the market witnesses a high growth rate. This product is highly reliable and durable. It is suitable to make the aircraft structure sturdy. 

  • Screws 

This segment of the market is receiving decent demand. The screws are made with high-quality metals that make them suitable for any aircraft assembly process.

  • Nuts and bolts 

This part of the segment offer rigidity to the aircraft. They are materials available in this segment is less. However, the demand for the product is high. 

By material type 

  • Titanium

Titanium is the most high-quality fasteners available in the market. They come with exceptional features such as heat resistance, corrosion resistance and low weight.  

  • Steel 

The steel fasteners are less reliable but affordable fasteners for the aircraft. 

  • Alloy 

The alloy fasteners offer corrosion resistance and high durability features. 

  • Super alloy 

The super alloy fasteners are the best alternative after the titanium. They offer high durability and reliability for the aircraft. 

By end-user 

  • Regulatory bodies

  • Aircraft manufactures 

  • Defence organisations 

  • Research institutes 

  • Defence companies 

  • Aerospace companies 

  • Government authorities 

  • Fastener providers 

Regional analysis 

North America will lead the aerospace fastener market in the forecast period. The extensive range of defence and well-developed market players are massive contributors to growth. After North America, Europe holds a significant aerospace market share. In Europe, the government initiative to increase defence power is increasing the market growth. Also, product development is another factor that propels market growth. The Asia Pacific will witness an exponential growth rate in the forecast year 2025. The market expansion rate in this region is high. China, India, Japan and South Korea are the key regional players. The entry of new market players will enable further growth in this region. 

Competitive landscape 

The aerospace fasteners market is less competitive. However, it is an expensive market with high investment rates. During the forecast period, the key players are strengthening portfolio and product awareness. Also, the Sunland aerospace fasteners reviews suggest that the competition will reach peak in forecast period. All these strategies will offer maximum growth rate of the global market. 

The key players of the aerospace fastener market are 

  • 3V Fasteners Company (US)

  • TriMas (US)

  • Alcoa Corporation (US)

  • Arconic Inc. (US)

  • B&B Specialties, Inc. (US)

  • Ho-Ho-Kus Inc. (US)

  • TFI Aerospace (Canada)

  • The Boeing Company (US)

  • National Aerospace Fasteners Corporation (Taiwan)

Recent Developments 

National Aerospace Fasteners Corp. received certification as a competent aerospace forging supplier from Safran Aircraft Engines in August 2021. NAFCO is qualified to forge aviation products made of various materials, including iron-based, nickel-based, and cobalt-based high-temperature superalloys. February 2020 – HC Merchandisers Inc. announced the acquisition of the California Associated Products (CAP) Cleco temporary fastener product business from Sandvik Machining Solutions' subsidiary Wetmore Tool and Engineering by its division HC Pacific.

Report overview 

  • Market overview highlights 

  • Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Value chain analysis

  • Market segmentation overview

  • The regional analysis

  • Competitive landscape analysis

  • Recent Developments

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