Market Highlights
Next generation aircraft like A320 family, B787, B777X, and A380 constitute approx. 2.4 million to 3 million fasteners in an aircraft. The combined backlog of Boeing and Airbus as of today has an order book of close to 12,000 aircraft, representing between eight and 10 years’ production. Majority of backlogs are for A320 family aircraft and B737Max. Thus, the demand for fasteners will significantly grow in the forecast period.
The aerospace industry use wide range of fasteners such as nuts, bolts, screws, rivets, pins and high locks during the making of aircraft and its parts. The factors driving the market growth are growing demand for aircraft, use of titanium fasteners, fleet utilization, and aircraft replacement has strengthen the line fit and retrofit aerospace fasteners market. Market Research Future predicts the market to grow at a CAGR of around 7% during the forecast period, to reach $9 billion.
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Geographically, North America would be the largest market for aerospace fasteners market in the forecast period. Whereas, APAC is likely to be the fastest growing market due to the significant increase in the number of aircraft and MRO opportunities in the region.
Key Players
The leading market players in the global Aerospace Fasteners Market primarily include 3V Fasteners, Alcoa, B&B Specialties, KLX, LISI Aerospace, STANLEY Engineered Fastening, NAFCO, Stanley Aerospace Fastening, and Acument Global Technologies.
Key Findings
In 2015, the Americas had the largest share of 45% in the market and is expected to lead with 40.5% market share by 2021APAC is likely to be the fastest growing market, due to the significant increase in the number of aircraft in the regionGrowing air traffic and aircraft utilization are the driving factors for aerospace fasteners marketAlcoa, 3V Fasteners, LISI Aerospace, B&B Specialties are the major vendors of aerospace fasteners marketBy 2021, commercial aerospace is likely to have the market share of around 62%
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Target Audience
Commercial and Military Aircraft OEMsComponent and Raw Material SuppliersService SuppliersPotential InvestorsKey executive (CEO and COO) and strategy growth manager.
Study Objective of Aerospace Fasteners Market
To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments of the Global Aerospace Fasteners MarketUpcoming technologies, high growth geographies and countries were identifiedRegional and country specific demand and forecast for aerospace fasteners were studiedKey segments covered in the report are: application, aircraft class, and regionUnder aircraft type, both commercial and military aircraft is taken into considerationIn service fleets, current aircraft orders and future deliveries were taken into consideration while forecasting the market for commercial and military fastenersAverage selling price for all different aircraft models and fasteners was finalized; same was referred for forecasting, keeping few assumptions into factorFor all the regions: key companies, forecast demand for aircraft, passenger traffic and fasteners demand were identified and then with historical Figure, data collected through primary and annual reports were triangulated to derive the regional market size.
Regional and Country Analysis of Aerospace Fasteners Market
As per the MRFR analysis, the Americas Aerospace Fasteners market is poised to reach $XX billion in 2021, to grow at a CAGR of around 5% during the forecasted period. Whereas, EMEA and Asia Pacific will grow at a CAGR of around 7% and 12% respectively.
In 2014, more than 20,000 aircraft were in service globally, and this is likely to double in the next 20 years. By 2034, emerging regions like Asia and the Middle East are expected to have aircraft nearly 17,000 aircraft delivered. These factors will drive the market during the forecast period.
The report also covers country level analysis:
Americas (North and Latin)
USCanadaBrazilOthers
Europe
GermanyFranceItalySpainUKRest of Europe
Asia – Pacific
ChinaIndiaJapanAustralia/New ZealandRest of Asia-Pacific
Middle East & Africa
UAEKuwaitIsraelRest of middle East & Africa
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