Aerospace Fasteners Market to Surpass 8.24 Billion by 2030 Drives Due to Increasing Air Traffic across the World

SkyQuest projects that the aerospace fasteners market will attain a value of USD 8.24 billion by 2030, with a CAGR of 7.7% over the forecast period (2023-2030). The aerospace fasteners market is experiencing robust growth globally, fueled by several key factors. One of the primary drivers is the increasing air traffic worldwide, as more people choose air travel as their preferred mode of transportation.

Westford, USA, Jan. 17, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, the growth trajectory of the global aerospace fasteners market is intricately linked with the expanding production of commercial and military aircraft worldwide. This surge in aircraft manufacturing is a direct response to the ever-increasing demand for air travel and the ongoing efforts of aerospace companies to modernize their fleets.

Browse in-depth TOC on the “Aerospace Fasteners Market”

  • Pages – 157
  • Tables – 63
  • Figures – 77

Robotics technology and 3D printing have unquestionably established themselves as game-changers within the aerospace fasteners market. Adopting autonomous robotic manufacturing processes has revolutionized the production landscape by significantly enhancing both speed and precision.

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Prominent Players in Aerospace Fasteners Market

  • Arconic Inc.
  • B&B Specialties, Inc.
  • LISI Aerospace
  • Precision Castparts Corp.
  • Stanley Black & Decker, Inc.
  • Alcoa Corporation
  • KLX Inc.
  • PCC Fasteners
  • B/E Aerospace
  • National Aerospace Fasteners Corporation
  • A Raymond Tinnerman
  • 3V Fasteners Company, Inc.
  • Consolidated Aerospace Manufacturing, LLC
  • National Rivet & Manufacturing Co.
  • Nippon Precision Fasteners Co., Ltd.
  • SPS Technologies, LLC
  • TriMas Corporation
  • TFI Aerospace Corporation
  • MW Industries, Inc.
  • Allfast Fastening Systems, Inc.
  • Anixter International Inc.

Titanium Segment is Expected to Grow the Market Due to the Specific Requirements of Aerostructure Manufacturers

Titanium emerged as the dominant segment of the aerospace fasteners market in 2022, and its prominence is expected to persist. This prevalence can be attributed to aerostructure manufacturers’ specific requirements, demanding fastening solutions that offer exceptional rigidity and durability.

The market in North America emerged as a dominant force in the aerospace fasteners market, boasting a substantial valuation of USD 1.86 billion. This robust market presence can be largely attributed to the region’s status as a global aerospace hub, home to some of the world’s leading aircraft manufacturers.

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Aluminum Segment is Expected to Dominate the Market Due to Increasingly Favor Aluminum Fasteners

Aluminum segment has emerged as the fastest-growing segment within the aerospace fasteners market, particularly in the aerospace industry. Aircraft original equipment manufacturers (OEMs) increasingly favor aluminum fasteners for connecting various aircraft components due to their exceptional attributes.

Regional markets in Asia Pacific region are poised to experience the fastest rate of growth in the aerospace fasteners market, and this surge can be primarily attributed to several key factors. One significant driver is the remarkable growth and heightened presence of Original Equipment Manufacturers (OEMs) within the regional aviation industry.

A comprehensive analysis of the major players in the aerospace fasteners market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.

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Key Developments in the Aerospace Fasteners Market

  • In 2022, Safran Aircraft Engines awarded National Aerospace Fasteners Corporation (NAFCO) the prestigious accreditation as a qualified supplier for aerospace forging. This accreditation recognizes NAFCO’s expertise and capabilities in producing critical aircraft components using high-temperature superalloys based on iron, cobalt, and nickel. Such advanced materials are essential for ensuring the durability and performance of aerospace components under extreme conditions.
  • In 2022, Kotadia Inc., a leading fastener manufacturer, anticipated a surge in orders from Original Equipment Manufacturers (OEMs) in India. This optimistic outlook is attributed to the robust growth of India’s electric vehicle (EV) market, which has prompted increased demand for high-quality fasteners.

Key Questions Answered in Aerospace Fasteners Market Report

  • What specific growth drivers are projected to impact the market during the forecast period?
  • List the top companies in the market and explain how they have achieved their positions of influence.
  • In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?

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