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Aerospace Fasteners Global Market Report 2022

·3-min read

Major players in the aerospace fasteners market are NAFCO, LISI Aerospace, MS Aerospace, Trimas, PCC, National Aerospace Fasteners Corporation, TFI Aerospace Corporation, TPS Aviation Inc, Stanley Black & Decker Inc.

New York, June 03, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Aerospace Fasteners Global Market Report 2022" -
(United States), Alcoa, 3V Fasteners Company Inc, B&B Specialities Inc, Stanley Black & Deck Inc, Wurth Group (Germany), Howmet Aerospace Inc. (United States), Arconic Inc., and Boeing Distribution Services Ins. (United States).

The global aerospace fasteners market is expected to grow from $6.02 billion in 2021 to $6.52 billion in 2022 at a compound annual growth rate (CAGR) of 8.46%. The market is expected to grow to $9.03 billion in 2026 at a CAGR of 8.47%.

The aerospace fasteners market consists of sales of aerospace fasteners by entities (organizations, sole traders, and partnerships) that deal with raw materials such as screws, rivets, nuts, bolts and pins, which mechanically fix or join two or more components of an aircraft together.They are durable and secure and aid in enhancing the aircraft’s efficiency while reducing its overall weight.

They are commonly manufactured using aluminum, titanium and steel, owing to the high tensile/shear strength and corrosion resistance of these metals.

The main product types in the aerospace fasteners market are screws, nuts and bolts, washers, and rivets.Screws are generally made of lower strength materials and can be installed with a loose-fitting thread, and the head shapes are made to engage a screwdriver or wrench.

By platform, aerospace fasteners are used in fixed wing aircrafts and rotary wing aircrafts.The main materials used for aerospace fasteners are aluminum, titanium, and alloy steel.

The uses of aerospace fasteners can be seen in commercial and defense applications.

Europe was the largest region in the aerospace fasteners market in 2021.Asis-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The global air travel industry has increased rapidly as the standard of living of people has improved and their disposable income has also gone up over a period of time.For instance, according to the International Civil Aviation Organization, passenger traffic and freight volume is expected to double by 2035.

Thus, increased demand for air travel pushed manufacturing of aircrafts, driving the the aerospace fasteners market.

The increasing use of super alloys is a key trend gaining popularity in the aerospace fasteners market.Super alloys have high mechanical strength, resistance to thermal creep deformation, good surface stability, and resistance to corrosion or oxidation.

For instance, SPS technologies has adopted the super alloys and developed the MP35N as the first fastener superalloy. It provides the unique combination of high strength and outstanding corrosion resistance, with a 750°F temperature capability.

In 2020, TriMas Corp., a USA-based company, acquired Simi Valley for $8.5 billion. TriMas is a global manufacturer and provides products for the customers in the aerospace, industrial, petrochemical, and oil and gas markets. This acquisition will help TriMas grow in the aerospace business and enhance their portfolio of products. This acquisition is estimated to add close to $3.2 billion revenue to TriMas.

The countries covered in the Aerospace Fasteners market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Read the full report:

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