Global Aerospace Screws Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Aerospace Screws Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A screw is an externally threaded fastener capable of being inserted into holes in assembled parts, of mating with a preformed internal thread or forming its own thread, and of being tightened or released by torquing the head. An externally threaded fastener that has a thread form that prohibits assembly with a nut having a straight thread of multiple pitch lengths is a screw.

Aerospace screws are the most commonly used threaded fastening devices on aircraft. They differ from bolts in that they are usually made of lower-strength materials. They can be installed with loose-fitting threads, and the head shape can be matched with a screwdriver or wrench. Some screws have a well-defined grip or unthreaded portion, while others are threaded along their entire length. Commonly used screws include structural screws, machine screws and self-tapping screws. There are mainly aerospace screws made of Titanium, Steel, Aluminum, and Compound Materia.

Market Overview:

The latest research study on the global Aerospace Screws market finds that the global Aerospace Screws market reached a value of USD 1198.97 million in 2022. It’s expected that the market will achieve USD 1754.04 million by 2028, exhibiting a CAGR of 6.55% during the forecast period.

COVID-19 has an impact on the global economy. The COVID-19 epidemic spread to more than 210 countries and regions around the world in three months, affecting nearly 7 billion people. The coronavirus epidemic has impacted all aspects of human health, economic growth, social development, national security, and international relations. It is a comprehensive challenge. The epidemic has drastically reversed expectations of moderate growth in the world economy in early 2020. After the outbreak, the employment situation in various countries has become more severe. Global investors panic, triggering turmoil in the financial and capital markets. The epidemic has caused huge losses to related industries and international trade. From the perspective of the general background, exports, consumption, and investment are driving the economy. After the outbreak of the epidemic, consumption, exports, and investment have all been affected to some extent. Therefore, the global economic downturn is inevitable.

More than one million lives have been lost to COVID-19 since the start of 2020 and the toll continues to rise. Many more have suffered a serious illness. Close to 90 million people are expected to fall into extreme deprivation this year. Compared with the IMF report released in June, the global economic contraction in 2020 will not be as severe as previously predicted. This revision reflects a better-than-expected economic recovery in the second quarter. Global growth is projected at 5.2 percent in 2021, a little lower than in the June 2020 WEO Update, reflecting the more moderate downturn projected for 2020 and consistent with expectations of persistent social distancing. This is the worst global recession in decades, despite the huge efforts of governments with the support of fiscal and monetary policies to deal with the economic downturn. But from a long-term perspective, it is expected that the severe recession caused by the pandemic will cause a prolonged economic depression by reducing investment. Should COVID-19 outbreaks persist, should restrictions on movement be extended or reintroduced, or should disruptions to economic activity be prolonged, the recession could be deeper. Businesses might find it hard to service debt, heightened risk aversion could lead to climbing borrowing costs, and bankruptcies and defaults could result in financial crises in many countries. Under such unfavorable circumstances, there will still be a possibility of a global decline in 2021. The global economic downturn caused by COVID-19 is not good for the development of any industry, and Aerospace Screws industry is the same.
In addition to the impact of COVID-19 on the global economy, it also has an impact on the Aerospace Screws market. The COVID-19 outbreak has restricted the production of Aerospace Screws and caused the break of the industrial chain. The COVID-19 outbreak has caused the production of raw materials such as steel, aluminum, and titanium alloys to stop upstream. The production of Aerospace Screws is restricted by the shortage of raw materials due to factory shutdowns and traffic restrictions. During the COVID-19 outbreak, the manufacturers of Aerospace Screws faced raw material supply problems and factory shutdowns or even closures. For the downstream market of Aerospace Screws, COVID-19 has affected passenger and cargo transportation. In addition, the government has issued restrictions on traffic, which has caused a sharp decline in the aerospace market. These are not good for the development of Aerospace Screws industry.

The market for all types of aircraft is growing.

The main purpose of Aerospace Screws is to connect parts or wholes as fasteners on airplanes. In recent years, with the steady increase in military costs and equipment costs of many countries around the world, and the gradual increase in the output of civil aviation aircraft, the number of civil aviation passenger aircraft has increased, and the demand for maintenance has increased. This has led to a steady growth in the market size of aerospace fasteners (including Aerospace Screws). The development of the aerospace market has largely driven the development of the Aerospace Screws market.

Aerospace Screws are also affected by process technology.

Restricted by the aerospace manufacturing industry in the region, aerospace vehicles have strict requirements on the material, manufacturing process, and tolerances of Aerospace Screws. At the same time, there are a wide variety of products, and the order quantity of the complete machine manufacturer is relatively large, and there are more requirements for the types of products of the enterprise. There are very significant scale barriers, qualification barriers and technical barriers in the aerospace fastener industry (including Aerospace Screws). At the same time, the development of aerospace vehicles is an extremely complex and systematic project, especially for large-scale civil aviation aircraft. The development and production cycle is basically more than 15 years, and the selection, development and verification of fasteners for the finalization and connection of various components have a long cycle. . In many countries, the level of Aerospace Screws industry technology is relatively low, and its competitiveness in the global market is not strong. This will also adversely affect the Aerospace Screws industry.

Region Overview:

North America dominated the Aerospace Screws market in 2022, with a market share of 33.83%.

Company Overview:

Precision Castparts Corp. is one of the major players operating in the Aerospace Screws market, holding a share of 22.2% in 2023.

Precision Castparts Corp.

Precision Castparts Corp. is an American industrial products and metal manufacturing company that produces investment casting, forged parts and airfoil castings for the aerospace, industrial gas turbine and defense industries. In January 2016, the company became a subsidiary of Berkshire Hathaway.

Howmet Fastening Systems

Born from many well-known and long-standing brands, Howmet Fastening Systems is the premier designer and manufacturer of aerospace and industrial fasteners, latches, bearings, fluid fittings and installation tools. Their products are used nose to tail on commercial and military aircraft, as well as on jet engines, industrial gas turbines, automobiles, commercial transportation vehicles, wind turbines, solar power systems, and construction and industrial equipment.

Segmentation Overview:

By type, Steel segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Aircraft segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Aerospace Screws market covered in Chapter 3:

CASIC
TriMas
M.S. Aerospace
Howmet Fastening Systems
Precision Castparts Corp.
Acument
LISI AEROSPACE
Stanley Engineered Fastening
TFI Aerospace Corporation
B&B Specialties

In Chapter 4 and Chapter 14.2, on the basis of types, the Aerospace Screws market from 2018 to 2029 is primarily split into:

Titanium
Steel
Aluminum
Compound Material

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Aerospace Screws market from 2018 to 2029 covers:

Aircraft
Fighter
UAV
Helicopter
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)