Aerospace Fasteners Market Overview, Trends, Opportunities, Growth and Forecast by 2024

NEW YORK - Feb. 10, 2020 - PRLog -- According to the latest report by IMARC Group titled, "Aerospace Fasteners Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the market is expected to grow at a CAGR of around 6% during 2019-2024.

Aerospace fasteners are various hardware tools, such as bolts, screws, clamps, hi-locks, rivets, pins and nuts, which are commonly used in commercial and military aircraft, ballistic missiles, rockets and satellites. They are utilized for fastening or fixing two or more components together, such as interior fittings, flight control surfaces and nacelles. They are also used for creating temporary joints that can be dismantled without damaging the surrounding equipment. These tools are usually manufactured using aluminum, titanium and steel for enhanced durability against high pressure and temperatures.

The global market is primarily driven by the thriving civil aviation industry. A significant rise in the air commutation has resulted in the increasing production of aircraft with premium-quality components and luxurious interiors to improve overall passengers' flight experience. Furthermore, the utilization of advanced manufacturing techniques, such as 3D printing and additive manufacturing (AM), which aid in producing lightweight and corrosion-resistant components, is also providing a boost to the market growth. Other factors, including rapid urbanization and favorable policies to improve airport infrastructure, along with increasing space exploration activities, are projected to drive the market further.

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Key Market Segmentation:

Breakup by Product Type

1. Rivets

2. Screws

3. Nuts and Bolts

4. Washers

5. Others

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Breakup by Material Type

1. Aluminium

2. Alloy Steel

3. Titanium

4. Others

Breakup by Application

1. Interior

2. Control Surfaces

3. Fuselage

Breakup by Aircraft Type

1. Narrow Body Aircraft

2. Wide Body Aircraft

3. Very Large Aircraft

4. Fighter Jet

5. Others

Breakup by End-Use Sector

1. Commercial

2. Defense

3. Others

Breakup by Region

1. North America

2. Europe

3. Asia Pacific

4. Middle East and Africa

5. Latin America

Competitive Landscape

The report has also analysed the competitive landscape of the market with some of the key players being Arconic Fastening Systems & Rings, B&B Specialties, LISI Aerospace, 3V Fasteners Company,  National Fasteners Company, TriMas Corporation, Wesco Aircraft Holdings, CDP Fastener Group, TFI Aerospace Corporation, Stanley Engineered Fastening, Ho-Ho-Kus Inc, etc.

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