The new report by Expert Market Research titled, ‘Global Aerospace Fasteners Market Size Report and Forecast 2021-2026’, gives an in-depth analysis of the global aerospace fastener market, assessing the market based on its segments like product, material type, application, aircraft type, end use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 5.8%
3D printing innovations and automation advancement have shown a wide array of benefits in the car industry. Autonomous robotic manufacturing has increased output speed and productivity and helps to minimise human mistakes and dependency on workers. Quick mass manufacturing, easier performance, improved performance, tangible design and product creation, cost-effective, innovative design, and flexibility of modification, and less waste generation are the advantages of 3D printing technology.
During the forecast period, the demand from North America is projected to see a steady rate of growth. Growing adoption of advanced manufacturing technology will further increase demand in the region. Growing investment on R&D operations is expected to fuel market growth in North America. Europe is expected to develop excellently during the forecast era due to the booming aerospace industry in European countries.
Industry Definition and Major Segments
Aerospace fasteners are the hardware used to connect two or more objects. Furthermore, aerospace fasteners are the instruments that bind aircraft parts during original equipment manufacturing and aftermarket servicing.
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By product, the market is divided into:
- Nuts and Bolts
Based on material type, the market segmented into:
- Alloy Steel
On the basis of application, the market is bifurcated into:
- Control Surfaces
By aircraft type, the market is divided into:
- Narrow Body Aircraft
- Wide Body Aircraft
- Very Large Aircraft
- Regional Transport Aircraft
- Business Jet
- Fighter Jet
Based on end-use, the market segmented into:
The regional markets for the product include:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
A crucial factor in growing demand growth over the forecast timeframe would be increased customer desire to travel by air. Factors that can create lucrative market prospects are the ease, cost-effectiveness, protection, and fast travel that air travel offers. Increased import and export activities have resulted in higher air traffic, thus fueling demand in the industry.
Growing commercial aircraft production will allow for increased business growth due to the need for newer and more advanced aircraft. The growing aircraft modernisation programs in numerous nations will have a major impact on the industry in the coming years.
Key Market Players
The major players in the market are Stanley Black & Decker Inc., Precision Castparts Corp., LISI Aerospace (SAS), Trimas Corporation, The Boeing Company, and National Aerospace Fasteners Corporation, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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