Dublin, July 13, 2022 (GLOBE NEWSWIRE) -- The "Aerospace Fastener Market Size, Share, Trends, By Product, By Material, By Aircraft, By End-Use, By Application, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering. The aerospace fasteners market size is expected to reach USD 14.39 Billion in 2030 and register a revenue CAGR of 6.8% over the forecast period, according to the latest report. The growth of the market is attributed to the increase in air travel and the growing demand for aircrafts from the commercial as well as defense sectors.
The rising concerns over fuel efficiency and emission levels are impelling airlines to opt for lighter materials, which is projected to create a demand for fasteners made of titanium and aluminum. In addition, the entry of new players in the market is anticipated to create new opportunities for market growth. The aerospace industry employs a variety of standard fasteners, including screws, nuts, rivets, and bolts. The aerospace fastener market is expected to grow significantly in the next decade due to the increasing demand for aircrafts from the commercial and military sectors.
The market is driven by the need for faster assembly and disassembly of aircraft components, as well as the increasing demand for lightweight fasteners that can reduce fuel consumption. The major end-use sectors of the aerospace fastener market are commercial aviation, military aviation, and space applications. Some Key Highlights from the Report
By product, rivets segment accounted for largest market revenue share in 2020 and is expected to witness a faster revenue CAGR during the forecast period. The rivets segment includes various types of rivets such as semi-tubular, solid, blind, split, drive, and others. Aerospace applications require high strength-to-weight ratio fasteners for better performance and to avoid weight penalties.
By application, fuselage segment to lead the aerospace fastener market during the forecast period. Fuselage is one of the key applications of aerospace fasteners. Fuselage comprises the frame and skin of an aircraft, which needs to be assembled using high-strength fasteners. The increased demand for new aircraft deliveries is projected to drive the growth of the fuselage segment.
The Asia-Pacific region is anticipated to be the fastest-growing market for aerospace fasteners during the forecast period. The Asia-Pacific region comprises countries such as China, Japan, India, and South Korea, which are some of the major economies in the world.
Aerospace fasteners market in North America is anticipated to grow at a CAGR of 5.3% during the forecast period. The market is driven by the rise in air passenger traffic, followed by growth in commercial aircraft deliveries. Moreover, an increase in defense spending and aircraft production is projected to create significant opportunities for the market players in this region.
For the purpose of this report, the publisher has segmented aerospace fasteners market based on product, end-use, material, aircraft, application, and region: Product Outlook
Key Topics Covered: Chapter 1. Market Synopsis Chapter 2. Executive Summary
Chapter 3. Indicative Metrics Chapter 4. Aerospace Fasteners Market Segmentation & Impact Analysis 4.1. Aerospace Fasteners Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers' analysis 4.2.2.1. Surge in production of commercial aircraft 4.2.2.2. Investments in research and development 4.2.2.3. Rise in worldwide tourism 4.2.2.4. Rise in disposable income of people in developing regions 4.2.2.5. Rising defense expenditure 4.2.3. Market restraints analysis 4.2.3.1. Increasing use of composite materials 4.2.3.2. Quality accreditations 4.2.3.3. Limited availability and increased cost of raw materials. 4.3. Technological Insights 4.4. Regulatory Framework 4.5. Price trend Analysis 4.6. Customer Mapping 4.7. Covid-19 Impact Analysis 4.8. Global Recession Influence Chapter 5. Aerospace Fasteners Market By Product Insights & Trends Chapter 6. Aerospace Fasteners Market By End Use Insights & Trends Chapter 7. Aerospace Fasteners Market By Material Insights & Trends Chapter 8. Aerospace Fasteners Market By Aircraft Insight & Trends Chapter 9. Aerospace Fasteners Market By Application Insights & Trends Chapter 10. Aerospace Fasteners Market Regional Outlook Chapter 11. Competitive Landscape 11.1. Market Revenue Share by Manufacturers 11.2. Manufacturing Cost Breakdown Analysis 11.3. Mergers & Acquisitions 11.4. Market positioning 11.5. Strategy Benchmarking 11.6. Vendor Landscape Companies Mentioned
B&B Specialties Inc.
For more information about this report visit https://www.researchandmarkets.com/r/hgqk3b
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