Aerospace Fasteners Market is Expected to Achieve the Market Value of Billion USD till 2023

28/gen/2019 14:33:13 suraj jd Contatta l'autore

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Aerospace Fasteners Market Information by Application (Commercial Aerospace and Military), Aircraft Class (Commercial Aircraft & Military Aircraft), and Region (Americas (North and Latin), Europe, Asia Pacific, Middle East & Africa)- Forecast To 2023.

The Aerospace Fasteners Market is expected to grow at a CAGR of 7.85% during the period 2017-2023.

Market Overview:

Fasteners are widely used in commercial and military aircraft, ballistic missiles and rockets, aftermarket service and their parts and components. The aerospace industry makes use of a different range of fasteners such as screws, bolts, rivets, nuts, hi-locks, and pins.

Growing demand for air travel worldwide has led to increased requirement for commercial aircraft fleet. Such an increase in the number of aircraft will simultaneously result in demand for aerospace fasteners. Aerospace fastener manufacturers are increasingly focusing on emerging regions, such as Mexico, Brazil, India, and North Africa because of the high demand for aircraft. This offers opportunities for third-party companies to partner with OEMs and open MRO service centers in these regions. The use of titanium fasteners and growing investment in interior cabin products have been encouraging market growth in the last five years. With technological advances being key to product acceptance, the introduction of software such as ASRP5, which allows the simulation of complex assembly processes, bodes well for the market.

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Market Regional Analysis

The Americas is home to a few of the world's most renowned commercial aircraft and business jet manufacturers, namely, Boeing, Bombardier, Gulfstream, and Embraer. Companies such as Boeing often engage in R&D projects with the manufacturers of aerospace fasteners. U.S., in particular, is making substantial investments in producing advanced fastening systems, which will be integrated across modern fighter jets and MEA such as Boeing 787.

North America extensively invests in the aerospace titanium fasteners, and generates a very high demand for these fastening systems. Although, Brazil and Canada make some investments in the development of these fastening systems, yet the market is primarily dominated by the U.S.

The mergers of major airlines in the U.S. (American Airlines with US Airways, United with Continental, Delta with Northwest, and Southwest with AirTran) have made the country’s airline industry the most profitable in the global aviation market. These airlines are investing in advanced technology and upgrading fasteners to enhance their flight safety and operations, which will have a positive impact on the market.

Similarly, Europe has been at the forefront of commercial aviation innovations, particularly with the recent nanotechnology-based innovations depicting the lightweight and energy-efficiency characteristics for metal-based components, which presents a number of opportunities for local manufacturers and stakeholders of aerospace fasteners. It develops advanced aerospace fasteners by unifying metallurgy with aeronautical excellence.

Top Key Players

The Global Aerospace Fasteners Market is highly competitive, and vendors compete based on cost, product quality, reliability, and aftermarket service. To survive and succeed in such a competitive environment, it is important for vendors to provide cost-effective and high-quality aerospace fasteners with latest technology and materials.

Products used in the interior of an aircraft cabin are designed and manufactured based on the requirements of specific aircraft. Aircraft technicians find it challenging to implement changes to aircraft interiors as the technology they use will soon become obsolete. With the rapid advances in aircraft cabin interior technologies, the upgradation of the fasteners is necessary to comply with the airplane requirements, which require high investments and technical expertise.

For instance, Boeing 787 uses many loadable software airplane parts (LSAP). Traditionally, these were loaded via floppy disks. However, as floppy disks have become obsolete, airlines have to spend money on newer technologies for the management for loading data. Upgrading to the latest technology requires capital and may delays in aircraft delivery, affecting the airlines' operations

Aloca and B & B Specialties are the two leading vendors in the market. Their focus is on the implementation of lightweight materials, more electric technologies, and robust systems.

Other key players in this market are 3V Fasteners Company (US), Aloca (US), B & B Specialties (CA), KLX (US), LISI (France), CDP Fastener Group (MA), National Aerospace Fasteners (Taiwan), Stanley Aerospace Fastening (USA), TFI Aerospace (Canada), Wesco Aircraft Holdings (US).

Intended Audience

  • Distributer & Supplier companies
  • End Users
  • Consultants and Investment bankers
  • Government as well as Independent Regulatory Authorities

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