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Aerospace fasteners market expected to worth 7.73 billion USD by 2021 according to new research report

Aerospace fasteners market expected to worth 7.73 billion USD by 2021 according to new research report

Aerospace Fasteners Market by Product (Rivets, Screws, Nuts & Bolts), Application (Interior, Fuselage, Control Surface), Aircraft Type (NBA, WBA, VLA, RTA, Business Jets, Fighter Jets), End User, Material Type and Region - Global Forecast to 2021

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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% between 2016 and 2021. Factors influencing the growth of aerospace fasteners market include increasing aircraft orders along with the increasing passenger traffic across the globe.

The number of aircraft has increased due to rise in air traffic. The aerospace fasteners market is highly dependent on the number of aircraft manufactured and the ability of fasteners to minimize limitations of weight, maintenance requirements, and vulnerability of security risks.

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This has further resulted in procurement of high strength and low weight fasteners.

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The report forecasts the aerospace fasteners market for the next five years. It also identifies and analyzes evolving technologies, recent developments, and high potential geographic regions and countries.

The aerospace fasteners market has been analyzed on the basis of product type, application, aircraft type, end user, and region. The report provides a competitive landscape of key players in the market with explicit focus on their product offerings, key financials, and growth strategies adopted by them to sustain their market position.

Key players in the aerospace fasteners market have been identified through secondary research and their market shares have been determined through both primary and secondary research. These include a study of annual and financial reports of top players and extensive interviews with key industry experts.

Some of the secondary sources include The Federal Aviation Administration, Aviation Week, NASA.gov, Reuters, Factiva, among others.

The aircraft type segment includes narrow body aircraft, wide body aircraft, very large aircraft, regional transport aircraft and business jets. Among these, the wide body aircraft segment is projected to grow at the highest CAGR during the forecast period.

The demand for wide body aircraft is increasing globally due to its efficiency, rise in passenger traffic, and increased connectivity between important geographical locations of developing and developed regions.

On the basis of end user, the aerospace fasteners market is segmented into commercial aviation and defense. The commercial aviation segment is expected to grow at the highest CAGR during the forecast period.

Increasing orders for commercial aircraft from developing regions have generated demand for aerospace fasteners from the commercial aviation segment.

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Key players operating in the aerospace fasteners market are Alcoa Fastening Systems & Rings (U.S.), LISI Aerospace (U.S.), Precision Castparts Corp. (U.S.), and Stanley Black & Decker Inc. (U.S.), among others. Partnerships, collaborations, agreements, and contracts are the major growth strategies adopted by the players to strengthen their position and enhance their product offerings.

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