The aerospace fasteners market is projected to grow from USD 5.49 billion in 2016 to USD 7.73 billion by 2021, at a CAGR of 7.08%. Factors influencing the growth of this market include the rise in aircraft orders due to the growth in air transport in emerging economies.
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The growth of aerospace fasteners market is directly proportional to the health of the airline industry. Due to application specific requirements of raw materials and limited number of suppliers, raw materials management is a burning issue for aerospace fastener manufacturers.
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Increased efficiencies and lower oil prices have saved the airline industry tens of billions of dollars. The airline industry also produced record breaking operating results in terms of profits and increased efficiencies, which have resulted in increased implementation of new aircraft.
In the next 10 years, the number of wide body airplanes entering the replacement zone will double.
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Considering the number of suppliers for aircraft components in European countries, it is estimated to be the largest market for aerospace fasteners during the forecast period. On the other hand, Asia-Pacific region is projected to be the fastest-growing market during the forecast period owing to the presence of emerging economies, increased air travel, and rising demands for aircraft.
Target Audience Include Aerospace Fasteners Market Report:
- Aircraft Manufacturers (Commercial & Defense)
- Aerospace Fasteners Manufacturers
- Raw Materials Providers or Suppliers
Key Point from Table of Content:
Aerospace Fasteners Market, By Product
Nuts & Bolts
Aerospace Fasteners Market, By Material Type
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Aerospace Fasteners Market, By Application
Aerospacer Fasteners Market, By End User
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