Newark, June 05, 2023 (GLOBE NEWSWIRE) -- The global aerospace fasteners market is expected to grow from USD 6.17 billion in 2021 to USD 11.31 billion by 2030, at a CAGR of 6.96% during the forecast period 2022-2030. The increasing aircraft modernization project in various nations and growing passenger willingness to fly by air are anticipated to boost demand for aerospace fasteners. Moreover, the growing import & export operations have resulted in higher air traffic, and the adoption of 3D & robotics technology supports the market's growth during the forecast period. Further, the increase in demand for aerospace fasteners for defense systems in military helicopters and fighter jets is also anticipated to boost the growth of the aerospace fasteners market.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Base Year | 2022 |
| Market Size in 2022 | USD 6.17 Billion |
| Market Size in 2030 | USD 11.31 Billion |
| CAGR | 6.96% |
| No. of Pages in Report | 234 |
| Segments Covered | The research segment is based on Application, Product Type, Material Type, Aircraft Type & Regions |
| Drivers | The surge in commercial aircraft production |
| Opportunities | Increasing adoption of 3D printing & robotics technology |
| Restraints | The high production cost |
The cabin interior segment led the market with a market value of around 2.91 billion in 2021.
The application segment is divided into control surface, fuselage, and cabin interior. The cabin interior segment led the market with a market value of around 2.91 billion in 2021. This growth is attributed to the raised demand for progressive aircraft systems.
The rivets segment led the market with a market value of around 1.86 billion in 2021.
The product type segment is divided into screws, nuts & bolts, rivets, and others. The rivets segment led the market with a market value of around 1.86 billion in 2021. This growth is attributed to the emergence of 3D printing in aerospace manufacturing.
The aluminium segment led the market with a market value of around 1.98 billion in 2021.
The material type segment is divided into alloy steel, aluminium, titanium, and others. The aluminium segment led the market with a market value of around 1.98 billion in 2021. This growth is attributed to the growing aircraft fleet size and government spending on infrastructure development.
The commercial aircraft segment led the market with a market value of around 3.46 billion in 2021.
The aircraft type segment is divided into military aircraft and commercial aircraft. The commercial aircraft segment led the market with a market value of around 3.46 billion in 2021. This growth is attributed to the improvement in air network.
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Regional Segmentation Analysis:
The market is analyzed based on five regions namely North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The North America region emerged as the largest global aerospace fasteners market with a market value of around 2.78 billion in 2021. North America currently dominates the aerospace fasteners market, and this trend is expected to continue during the forecast period. This growth is attributed to the raised investment in military & defense.
Competitive Analysis:
The major players of market include 3V Fasteners Company Inc., Advanced Logistics for Aerospace, Accumen Global Technologies, Alcoa Fastening Systems & Rings, Avdel private limited, Allfast Fastening Systems, B&B Specialties, Inc., Bufab Group, Arconic, Ho-Ho-Kus Inc., EADS, B/E Aerospace, LISI Aerospace, Precision Castparts Corporation, National Aerospace Fasteners Corporation, TPS Aviation Inc., TFI Aerospace Corporation, and among others.
About the report:
The global aerospace fasteners market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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