Market Research Report
Aerospace Fasteners Market by Application, Material, and Geography - Forecast and Analysis 2020-2024
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||296661|
|Published||Content info||165 Pages
Delivery time: 1-2 business days
|Aerospace Fasteners Market by Application, Material, and Geography - Forecast and Analysis 2020-2024|
|Published: November 29, 2019||Content info: 165 Pages||
Technavio's aerospace fasteners market analysis considers sales from aluminum, titanium, superalloys, and steel materials. Our study also finds the sales of aerospace fasteners in APAC, Europe, MEA, North America, and South America. In 2019, the aluminum segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as low weight density, corrosion resistance, and malleability will play a significant role in the aluminum segment to maintain its market position. Also, our global aerospace fasteners market report looks at factors such as increasing aircraft production, preference for lightweight materials and increase in MRO activities. However, raw material price volatility, aircraft order cancellations, implementation of stringent regulations may hamper the growth of the aerospace fasteners industry over the forecast period.
The incorporation of lightweight components leads to a significant weight reduction of the aircraft. As a result, aircraft component manufacturers are using titanium-based alloys to manufacture lightweight components such as aerospace-grade fasteners. Titanium-based fasteners are also used in supersonic and hypersonic missiles and military aircraft as they can sustain high pressure and temperature and exhibit higher wear resistance and strength. Thus, the growing use of lightweight materials in the manufacture of aerospace fasteners will lead to the expansion of the global aerospace fasteners market at a CAGR of almost 6% during the forecast period.
Additive manufacturing technology is one of the fast-developing technologies used in various industries. The aerospace industry is witnessing a rapid adoption of additive manufacturing techniques to produce various components, including engine parts, fasteners, and other interior components, as well as fuselage components. The technology reduces the waste produced during component manufacturing and, thus, the overall manufacturing costs. Furthermore, the technology helps develop and manufacture products with intricate design and uniform strength. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global aerospace fasteners market during the forecast period 2020-2024, view our report.
With the presence of a few major players, the global aerospace fasteners market is concentrated. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading aerospace fasteners manufacturers, that include Arconic Inc., B&B Specialties Inc., Berkshire Hathaway Inc., Boeing Co., Click Bond Inc., LISI SA, MinebeaMitsumi Inc., National Aerospace Fasteners Corp., Stanley Black & Decker Inc., and TriMas Corp.
Also, the aerospace fasteners market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.