Aerospace Fasteners Market by Material, Product, and Application : Global Opportunity Analysis and Industry Forecast, 2021–2030

Aerospace Fasteners Market by Material (Aluminum, Alloy Steel, Titanium and Others), Product (Nuts & Bolts, Rivets, Screws and Others), and Application (Military Aviation, Commercial Aviation and Civil Aviation): Global Opportunity Analysis and Industry Forecast, 2021–2030

The aerospace fasteners market was valued at $7,423.9 million in 2020, and is expected to reach $12,808.9 million by 2030, registering a CAGR 5.5% from 2021 to 2030. Aerospace fasteners are fasteners such as screws, nuts, bolts, rivets, and other specialty fasteners that are used to assemble components of an aircraft or a helicopter used in military, commercial or civil aviation. These fasteners are made of high tensile and high strength material such as titanium, steel, aluminum and other composite or specially manufactured alloys. The aerospace fasteners are used for construction of new aircraft or helicopter as well as in its service, repair and maintenance activities which is also called as Maintenance, Repair, and Operations (MRO).
The major driving factors of aerospace fasteners market are rise in air travel around the world. There has been rise in per capita income of the people and increase in their spending capacity this has led to increase in air travelers in the last few years. For instance, as per the World Bank data in 2020, there has been an increase of 46% number of air travelers since 2015. This leads to increase in demand for new aircrafts which in turn drives the growth of the aerospace fasteners market. In addition, developed nations are aggressively assigning a large amount of their annual budget for buying new military aircrafts as well as maintaining the old aircrafts.
This leads to manufacturing on mew military aircrafts; further creating demand for aerospace fasteners. These factors are currently driving the aerospace fasteners market around the world. However, there has been a rise in adoption of 3D printing of industries components. This also includes 3D printing of aircraft components. This technology 3D prints two or more components together and reduces the number of components to be assembled. This led to decrease in demand for aerospace fasteners.
On the contrary, there is Industrialization and urbanization of developing countries like India, China, Mexico and Brazil, which has resulted in rise of manufacturing activities, luxury lifestyle, and expenditure on defense. Moreover, the aerospace fastener manufacturers are concentrating on developing countries for expanding their manufacturing facilities as well as for MRO services. This is projected to boost the growth of the aerospace fasteners market during the forecast period.
The aerospace fasteners market is segmented into material, product, application, and region. On the basis of material, the market is classified into aluminum, alloy steel, titanium and others. Depending on product, it is segregated into nuts & bolts, rivets, screws and others. The applications covered in the study include military aviation, commercial aviation and civil aviation. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition analysis

The major players profiled in the aerospace fasteners market include B&B Specialities Inc., Bufab Group, Howmet Aerospace, LISI Aerospace, Precision Castparts Corp., Stanley Black & Decker Inc., TFI Aerospace, The Boeing Company, TriMas Corporation and Wurth Group. Major companies in the market have adopted acquisition, agreement, joint venture, partnership and business expansion as their key developmental strategies to offer better products and services to customers in the aerospace fasteners market.

KEY BENEFITS FOR STAKEHOLDERS
• The report provides an extensive analysis of the current trends, future estimations, and dynamics of the aerospace fasteners market.
• In-depth aerospace fasteners market analysis is conducted by estimations for the key segments between 2021 and 2030.
• Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
• A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
• The market forecast analysis from 2021 to 2030 is included in the report.
• The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market industry.

KEY MARKET SEGMENTS

By Material
o Aluminum
o Alloy Steel
o Titanium
o Others

By Product
o Nuts & Bolts
o Rivets
o Screws
o Others

By Application
o Military Aviation
o Commercial Aviation
o Civil Aviation

By Region
o North America
- U.S.
- Canada
- Mexico
o Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
o Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
o LAMEA
- Latin America
- Middle East
- Africa

Key Players
- B&B Specialities Inc.
- Bufab Group
- Howmet Aerospace
- LISI Aerospace
- Precision Castparts Corp.
- Stanley Black & Decker Inc.
- TFI Aerospace
- The Boeing Company
- TriMas Corporation
- Wurth Group