The global aerospace fastener market is expected to reach USD 11.78 Billion by 2028, according to a new report by Reports and Data. The increasing demand for flight journey across the world is estimated to stimulate the market demand in the upcoming years. Airlines across the globe are increasing their activities to cater to more passengers by updating their fleets and adding modern aircraft that are more fuel-efficient to compete with low-cost competitors while sustaining healthy profitability. As aerospace fasteners are used in the manufacturing of aircraft, the demand for these components is anticipated to increase as more people opt for air travel both domestically and internationally. The aviation industry has seen substantial growth over the past 20 years, with the number of passengers rising from 1.47 Billion in 1998 to 3.98 Billion in 2017.
Key participants include Alcoa Fastening Systems & Rings, Stanley Black & Decker Inc., LISI Aerospace, Precision Castparts Corp., TriMas Corporation, National Aerospace Fasteners Corp., B&B Specialities Inc., 3V Fasteners Company Inc., TFI Aerospace Corp., and TPS Aviation, among others.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1571
Additionally, to serve the increasing domestic traffic especially in the Asia Pacific region from developing economies like China and India, the service providers are focusing on low-cost carriers (LCCs) for the vast majority of available seats. For instance, owing to the rapid growth in air traffic, over 80% of all new airplane deliveries in India is expected to be single-aisles. The Indian economy is likely to experience significant growth in the upcoming years, and this will continue to propel the growth of India’s middle class and its inclination to travel both domestically and internationally by air, resulting in the need for new aircraft. Aerospace fasteners are critical to the manufacturing of these aircraft, which, in turn, would positively impact market growth.
Scarce availability of materials used in the production of aerospace fasteners may hamper the growth of the market in the forecast period. Further, composite components can be made into complex shapes that, for metallic parts, would require machining and create joints. Pre-formed composite components are not just lightweight and strong, but also reduce the number of heavy fasteners and joints, thus restricting the growth of the market.
Request Customization of the report @ https://www.reportsanddata.com/request-customization-form/1571
Key Reasons to Buy the Report:
- The Aerospace Fastener report analyses the global consumption rate in terms of value and volume.
- It comprehensively studies the key segments and sub-segments of the.
- The report is presents a detailed study of the intensely competitive landscape of the.
- The report offers vital information on the leading industry players, along with their values, sales volumes, and business growth strategies.
- Furthermore, the Aerospace Fastener report highlights the strategic developments taking place in the global during the forecast period, such as expansions, agreements, mergers & acquisitions, and new product launches.
Further key findings from the report suggest
- By product type, rivets held a substantial market share, in terms of volume, in 2020.
- Aluminum fasteners dominated the market in 2020 and is expected to maintain its dominance in the forecast period growing at a rate of 6.4%.
- By end user, the defense & space sector is forecasted to grow at a rate of 6.5% in the forecast period owing to the growing demand for fighter jets in the defense sector as well as increasing space exploration activities.
- The market in North America is contributed to the largest market share in 2020 and is projected to grow at a rate of 6.0% in the forecast period attributed to high demand for new aircraft as well as modernization of existing fleet in the region.
For the purpose of this report, Reports and Data have segmented the global aerospace fastener market on the basis of product type, material type, usage, aircraft type, end user, and region:
Product Type Outlook (Volume, Thousand Units; 2020-2028 and Revenue, USD Million; 2020-2028)
- Screws & Bolts
- Special Products
Material Type Outlook (Volume, Thousand Units; 2020-2028 and Revenue, USD Million; 2020-2028)
- Super Alloys
Usage Outlook (Volume, Thousand Units; 2020-2028 and Revenue, USD Million; 2020-2028)
Aircraft Type Outlook (Volume, Thousand Units; 2020-2028 and Revenue, USD Million; 2020-2028)
- Wide Body
- Regional Jets
End User Outlook (Volume, Thousand Units; 2020-2028 and Revenue, USD Million; 2020-2028)
- General Aviation
- Commercial Aviation
- Defense & Space
Regional Outlook (Volume, Thousand Units; 2020-2028 and Revenue, USD Million; 2020-2028)
- North America
- Asia Pacific
- Latin America
Browse Complete Report “Aerospace Fastener Market” @ https://www.reportsanddata.com/report-detail/aerospace-fastener-market
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Head of Business Development
Reports and Data | Web:www.reportsanddata.com
Direct Line: +1-212-710-1370