Dublin, June 22, 2022 (GLOBE NEWSWIRE) -- The "Global Aerospace Titanium Fasteners Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Aircraft Type, Product Type, Application, and End User" report has been added to ResearchAndMarkets.com's offering.
The Aerospace Titanium Fasteners market was valued at US$ 1,119.23 million by 2028 from US$ 693.31 million in 2020; it is expected to grow at a CAGR of 6.9% during 2021-2028
Most aircraft system manufacturers are focused on reducing the final weight of aircraft. Lightweight aircraft are more economical to operate, can travel a greater range, carry more payloads, and exhibit longer airworthiness. The unmanned military aircraft (UAV) is controlled by remote; it carries sensors, target designators, offensive ordnance, or electronic transmitters to interfere with or destroy enemy objects. Reducing the structure's weight allows it to have more sensors and payload. Thus, the rising demand for lightweight material-based fasteners will boost the ales of titanium fasteners in military UAV systems, eventually bolstering the aerospace titanium fasteners market.
Technological advancements in the aerospace industry have led to the production of newer and more durable aerospace fasteners. Moreover, the increasing adoption of lightweight titanium fasteners in the aerospace industry provides notable opportunities for the aerospace titanium fasteners market players. In 2020, TriMas Aerospace received multi-year contracts from Airbus and signed new supply contracts with the company, which led to a surge in the sales of engineered fasteners of TriMas Aerospace in Europe.
Moreover, the presence of developed countries, such as the US and Canada, and the high focus on the aerospace & defense sector are two major factors driving the growth of the aerospace titanium fasteners market in North America. Due to the high standards of living in North America, airplanes and helicopters are widely used modes of transportation for domestic and international travel.
Thus, the demand for commercial aircraft for passenger travel and cargo services is relatively high in the region, which favors the aerospace titanium fasteners market growth. The US is a leading country in the world in terms of defense expenditure. North America is a hub of a few of the world's largest aircraft & helicopter manufacturers, such as Boeing, Textron Corporation, Gulfstream, Lockheed Martin, Northrop Grumman, Piper Aircraft Inc., Cirrus Design Corporation, Electric Aircraft Corporation, and Bombardier. Hence, the presence of aircraft manufacturers and increasing commercial aircraft production are the two major factors boosting the aerospace titanium fasteners market growth in North America.
Titanium fasteners exhibit high-temperature resistance, corrosion resistance, and nonmagnetic nature in military aircraft. Titanium's robust strength and low density provide the high levels of performance desired by aeroengine manufacturers. Its high-temperature capability is suitable for jet engines and airframe parts that must endure temperatures ranging from subzero readings to 600C. According to XOT Metals, titanium is mainly consumed by the military aerospace industry. The F/A-18, F-22, C-17, F-35, and the UH-60 Black Hawk helicopter are among the military aircraft models that use a huge volume of titanium fasteners. Further, military helicopters and UAVs also need higher volumes of titanium fasteners to attain improved operational efficiencies and lower fuel consumption benefits.
During the COVID-19 pandemic, the entire aviation industry came to a halt. Several aircraft production units in the US, France, Russia, and China were temporarily shut down to adhere to the social restrictions enacted by various governments. Furthermore, the total number of commercial aircraft and general aviation deliveries has impacting negatively to the aerospace titanium fasteners market share due to the industry crisis caused by the COVID-19 pandemic that has led to a decline in the demand for aircraft components required for the assembly of new aircraft production. However, the number of deliveries of single-engine piston aircraft increased in 2020.
According to the General Aviation Manufacturers Associations, in 2019, ~1,111 units of single-engine piston airplanes were delivered worldwide, and the number rose to ~1,155 units in 2020. This led to an increased demand for aerospace titanium fasteners for piston airplanes in 2020. However, the aerospace titanium fasteners market witnessed an overall decline of ~20% due to a substantial negative impact on commercial and military aircraft deliveries during FY 2020. Nevertheless, aviation authorities, airlines, and aircraft OEMs foresee strong growth in the APAC aviation industry in the near future. Due to this, several airlines are ordering newer aircraft models, which is expected to drive the demand for aircraft components among aircraft OEMs and MRO vendors during the forecast period.
The key players profiled in the study of the aerospace titanium fasteners market XOT Metals; Leeart industry Co., ltd.; B&B Specialties, Inc.; 3V Fasteners; Cherry Aerospace; Ferralloy inc.; SuperBTI CO., Ltd; TriMas Corporation; Torqbolt Inc.; and Lisi Aerospace Inc.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Aerospace Titanium Fasteners Market Landscape
4.1 Market Overview
4.2 Porter's Five Force Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
4.5 Premium Insights
4.5.1 Impact of Russia-Ukraine War in the Aerospace Titanium Fasteners Market
5. Aerospace Titanium Fasteners Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Adoption in Military Aircraft
5.1.2 Rising Development by Aerospace Titanium Fastener Manufacturers
5.1.3 Increasing demand by MRO Service Provider
5.2 Market Restraints
5.2.1 Discontinuation of A380 and B747 Manufacturing
5.3 Market Opportunities
5.3.1 Increasing Demand of Light Weight Fasteners
5.4 Future Trends
5.4.1 Rising adoption in Military UAV
5.5 Impact Analysis of Drivers and Restraints
6. Aerospace Titanium Fasteners Market - Global Market Analysis
6.1 Aerospace Titanium Fasteners Market Overview
6.2 Aerospace Titanium Fasteners Market Forecast and Analysis
6.3 Market Positioning - Global Key Players
7. Aerospace Titanium Fasteners Market Analysis - By Aircraft Type
7.1 Overview
7.2 Aerospace Titanium Fasteners Market, By Aircraft Type (2020 And 2028)
7.3 Narrow Body Aircraft
7.3.1 Overview
7.3.2 Narrow Body Aircraft: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
7.4 Wide Body Aircraft
7.4.1 Overview
7.4.2 Wide Body Aircraft: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
7.5 General Aviation
7.5.1 Overview
7.5.2 General Aviation: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
7.6 Cargo Aircraft
7.6.1 Overview
7.6.2 Cargo Aircraft: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
7.7 Helicopters
7.7.1 Overview
7.7.2 Helicopters: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
7.8 Military Aircraft
7.8.1 Overview
7.8.2 Military Aircraft: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
8. Global Aerospace Titanium Fasteners Market Analysis - By Product Type
8.1 Overview
8.2 Aerospace Titanium Fasteners Market , By Product Type (2020 And 2028)
8.3 Bolts
8.3.1 Overview
8.3.2 Bolts: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
8.4 Nuts
8.4.1 Overview
8.4.2 Nuts: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
8.5 Screws
8.5.1 Overview
8.5.2 Screws: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
8.6 Rivets
8.6.1 Overview
8.6.2 Rivets: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
9. Global Aerospace Titanium Fasteners Market Analysis - By Applications
9.1 Overview
9.2 Aerospace Titanium Fasteners Market , By Applications (2020 and 2028)
9.3 Flight Control Surfaces
9.3.1 Overview
9.3.2 Flight Control Surfaces: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
9.4 Airframe
9.4.1 Overview
9.4.2 Airframe: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
9.5 Engine
9.5.1 Overview
9.5.2 Engine: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
9.6 Interiors
9.6.1 Overview
9.6.2 Interiors: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
9.7 Landing Gear
9.7.1 Overview
9.7.2 Landing Gear: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
10. Global Aerospace Titanium Fasteners Market Analysis - By End User
10.1 Overview
10.2 Aerospace Titanium Fasteners Market , By End User (2020 and 2028)
10.3 Aircraft Manufacturers
10.3.1 Overview
10.3.2 Aircraft Manufacturers: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
10.4 MRO Service Providers
10.4.1 Overview
10.4.2 MRO Service Providers: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
10.5 Military Forces
10.5.1 Overview
10.5.2 Military Forces: Aerospace Titanium Fasteners Market Revenue and Forecast To 2028 (US$ Million)
11. Aerospace Titanium Fasteners Market - Geographic Analysis
12. Aerospace Titanium Fasteners Market- COVID-19 Impact Analysis
12.1 Overview
12.1.1 North America: Impact Assessment of COVID-19 Pandemic
12.1.2 Europe: Impact Assessment of COVID-19 Pandemic
12.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
12.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
12.1.5 South America: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
14. Company Profiles
14.1 XOT Metals
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Leeart Industry Co., Ltd.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Cherry Aerospace (PCC)
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Ferralloy Inc.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Superbti Co.,ltd.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 3 V Fasteners
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 TorqBolt P(Ltd)
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 TriMas Corporation
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 B&B Specialties, Inc.
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 LISI Aerospace
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/lht3nr
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