The Global Market for Aerospace Fasteners is Projected to Reach US$8 Billion by 2020

Growth in Aircraft Fleet Size Drives the Global Market for Aerospace Fasteners, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Aerospace Fasteners. The global market for Aerospace Fasteners is projected to reach US$8 billion by 2020, driven by the favorable outlook for the world commercial aviation industry.

The aerospace fasteners market has evolved in sync with the aerospace industry. Development of commercial, shipping, military and business airplanes and highly advanced ballistic missiles and rockets, have exerted significant performance pressure on aircraft fasteners. Fasteners are required to be highly durable to withstand extreme gravitational pressures when in air. Although fasteners account for just 3% of the total airplane manufacturing cost, they represent important components that influence the overall safety and efficiency of an aircraft. The aerospace sector uses a variety of fasteners such as hi-locks, bolts, nuts, washers, rivets, collars, screws, spacers and pins. All these fasteners are required to be certified by stringent standards governing their production and use. Aircraft fasteners are generally identified by the designations, AN, NAS and MS, which also specify their uses.

Demand for aerospace fasteners is greatly influenced by the type of aircraft in addition to the number of aircraft delivered. For instance, an Airbus A380 requires about 8 times the volume of fasteners required by an A320; while an A350/B787 require up to 5 times the number of fasteners required by single-aisle jetliners (A320/B737). Therefore the mix of aircraft fleet is also a crucial factor determining the demand for aerospace fasteners. The market for aerospace fasteners is influenced by the metals/materials used to manufacture the fasteners. Volume of fasteners used in modern aircraft such as A350, A380, A320, B737 Max and B787 has been declining over the years. Innovation in the field of fastening technology is set to drive growth in the market, as companies race to offer sophisticated, high performance fasteners.

Fasteners are critical components fixing or holding together two openings of a part. Advances in aerospace fastening technology has enabled these components to be extremely resilient, providing high levels secure and safe connections/joining. Advances in precision engineering have enabled manufacturers to develop custom fastening products based on national and international requirements. Furthermore, improvement in technology enables focus on quality and function of fasteners in order to comply with rising focus on safety and security of aircraft components. Robotic fastening processes offering benefits such as low cost of airframe assembly labor, reduced variability in assembly, as well as improved assembly throughput, are growing in popularity.

As stated by the new market research report on Aerospace Fasteners, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 7.3% over the analysis period. The growth in the region is driven by the anticipated rise in the number of aircraft in service to over 11,000 by 2028.

Major players covered in the report include 3V Fasteners Company Inc., Alcoa Fastening Systems, B&B Specialties, Inc., KLX Inc., LISI Aerospace S.A.S, National Aerospace Fasteners Corporation, Nylok Corporation, Precision Castparts Corp., Cherry Aerospace, Stanley Engineered Fastening, TFI Aerospace Corporation, TPS Aviation Inc., TriMas Corporation, Allfast, Inc., Monogram Aerospace Fasteners, and Wesco Aircraft Holdings, Inc., among others.  

The research report titled “Aerospace Fasteners: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The single segment report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany Italy, United Kingdom, Spain, Russia, and Rest of Europe), Asia-Pacific, Latin America and Rest of World. 

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