Aerospace Fasteners Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Aerospace Fasteners Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Aerospace fasteners Market

The global aerospace fasteners market size was valued at USD 6.78 billion in 2023 and the market is now projected to grow from USD 7.20 billion in 2024 to USD 12.76 billion by 2032, exhibiting a CAGR of 7.42% during the forecast period of 2024 to 2032.

During the covid-19 pandemic, aerospace industry suffered a tremendous decline, that has been translated to aerospace fasteners market significantly decreased. Lockdowns and supply chain disruptions, which ceased production and transportation on a large scale on a worldwide basis, were responsible for ramifications in many sectors. The industry encountered problems in coping with supply and demand chaos, adjusting to lower production capacities, and modifying consumer behaviours. These elements of supply played a role in the decline the aerospace fasteners market growth.

One of the factors driving the growth of the global civil aviation sector is the increasing number of air traffic, tourists and new pathways. Such expansion stipulates for aircraft carriers on the grounds that their parts may include fasteners, super alloys, switches and so on. Aircraft OEMs are required to have access to appropriate raw materials and the systems required to meet the escalating air travel. Increased requirements by airline companies and military sector for commercial and military aircraft is the main driver of the aerospace fasteners market share.

The robotics and 3D printing have impacted greatly to manufacturing. Autonomous robots results in speed acceleration and precision improvement while diminishing the motivation for human involvement. Through 3D printing we can achieve accessibility, better quality, quick mass production, prototype testing, affording, innovative ideas and personalization. It can do this using the existing models, and allows customized shapes, efficient material use, reduction of wastes, and also error minimization. This technology, in turn, has increased the productivity, agility, as well as sustainability of the current industrial manufacturing.

Comprehensive Analysis of Calcium Carbide Market

The calcium carbide market and aviation industry are rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the aviation industry. These segmentations are methodically segregated by product analysis, By material analysis and By platform analysis. The market is segmented according to the product into the rivet, the screw, the nut & bolts, and the others. Aluminium, titanium, steel, and superalloys are material segments which is expected to be a major growth driver during the forecast period. The market is further categorized into two platforms which are fixed-wing aircraft and rotary-wing aircraft. The hovering machine segment is divided into the civil and military helicopter sectors. The fixed-wing aircraft platform segment may be divided according the aircraft types being; commercial, general, military, and business aircraft types.

The North America market was valued at USD 2.73 billion in 2023 and dominated the aerospace fasteners market share due to the presence of top aircraft manufacturers, such as Boeing, Bombardier, Tetron, and others across the region.

The top players in the market play a crucial role in the aviation industry assuring industrial prospectus growth and setting market standards. These players include, B&B Specialties Inc. (U.S.), Boeing Distribution Services Inc. (U.S.), HC Merchandisers, Inc. (HC Pacific) (U.S.), Howmet Aerospace Inc. (U.S.), LISI Aerospace (France), M.S Aerospace (U.S.), National Aerospace Fasteners Corporation (Taiwan), Stanley Black & Decker, Inc. (U.S.), TFI Aerospace Corporation (Canada), TPS Aviation Inc. (U.S.), TriMas Corporation (U.S.) and Wurth Group (Germany). The market players are majorly involved in launch of new products and frequent partnerships and acquisitions to sustain their position in the market.

In September 2022, Boeing (a global company) launched a new manufacturing site, the Boeing Additive Manufacturing Plant (BAM), in the young town of Algona, just outside Seattle (WA). It is a fact that 3D printing has been around the company for nearly thirty years. The new additive manufacturing facility will ease out the tooling parts developed for civilians and commercial aviation; as well as the on-rocket, aircraft, and drone parts.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 7.42% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Products

Rivets

Screws

Nuts & Bolts

Others

By Material

Aluminum

Steel

Superalloys

Titanium

By Platform

Fixed-wing Aircraft

- Commercial Aircraft

- Business Aircraft

- General Aviation Aircraft

- Military Aircraft

Rotary-wing Aircraft

- Military Helicopters

- Civil Helicopters

By Region

North America (By Products, Material, Platform, and Country)

- U.S. (By Platform)

- Canada (By Platform)

- Mexico (By Platform)

Europe (By Products, Material, Platform, and Country)

- U.K. (By Platform)

- Germany (By Platform)

- France (By Platform)

- Russia (By Platform)

- Rest of Europe (By Platform)

Asia Pacific (By Products, Material, Platform, and Country)

- India (By Platform)

- China (By Platform)

- Japan (By Platform)

- South Korea (By Platform)

- Rest of Asia Pacific (By Platform)

South America (By Products, Material, Platform, and Country)

- Brazil (By Platform)

- Argentina (By Platform)

- Rest of South America (By Platform)

Middle East & Africa (By Products, Material, Platform, and Country)

- UAE (By Platform)

- Saudi Arabia (By Platform)

- South Africa (By Platform)

- Rest of Middle East and Africa (By Platform)