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Aircraft Fastener Coatings Market to Reach US$ US$ 1,182.0 million in 2023.

09-04-2018 09:18 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Stratview Research

Aircraft Fastener Coatings Market to Reach US$ US$ 1,182.0

Aircraft Fastener Coatings Market by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, and Military Aircraft), by Application Type (Engine, Aerostructures, Interiors, and Others), by Coating Type (Cadmium Coating, Dry Lubricant, Silver Coating, Aluminium Coating, and Others), by Process Type (Spray Coating, Dip Coating, Electroplating, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest o2023f the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This report, from Stratview Research, studies the global aircraft fastener coatings market over the trend period of 2012 to 2017 and the forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Click here to read the detailed description and TOC: https://www.stratviewresearch.com/370/Aircraft-Fastener-Coatings-Market.html

The Global Aircraft Fastener Coatings Market: Highlights

Fasteners are one of the most critical components in the aircraft industry as they play a vital role in achieving the tight assembly of aircraft parts. Fasteners have a very large share in hardware components used in an aircraft as about 45%-50% of the components used in an aircraft are fasteners. For instance; Airbus’ A380 aircraft has six million components out of which more than three million are fasteners. Most of the fasteners used in an aircraft have to be treated with a layer of coating or also termed as plating. Fasteners are being placed in very critical application areas, which are prone to temperature fluctuations and corrosion environments.

Fasteners deployed in an aircraft usually don’t have the capability to act against stress-corrosion, electrochemical corrosion, fatigue corrosion, chemical and atmospheric corrosion, withstanding temperature extremes, and maintain strength throughout their lifespan. This creates a strong need for coated fasteners in order to protect and sustain in various environmental conditions. There are various types of coatings used on aircraft fasteners, which are usually different from the coatings, such as epoxy and polyurethane coatings, used on aircraft components.
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The global aircraft fastener coatings market is projected to grow at a healthy rate over the next five years to reach an estimated value of US$ 1,182.0 million in 2023. An organic growth of the aircraft industry is the primary driver of the sustainable demand for fastener coatings. Boeing anticipated that there would be total deliveries of 40,410 commercial aircraft worth US$ 6.24 trillion in the global marketplace during 2018-2037. Asia-Pacific and Europe would be the biggest demand generators with a combined share of 64.7% of the total commercial aircraft deliveries during 2018-2037. An expected healthy CAGR of 4.7% in air passenger traffic during 2018-2037 will chiefly drive the demand for commercial aircraft. Growing aircraft fleet size is another factor elevating the demand for fastener and coating materials for them.

In addition to that, Boeing and Airbus had a combined total order backlog of 13,129 commercial aircraft at the end of 2017. However, the manufacturers are increasing production rates of their key commercial aircraft programs in order to deliver aircraft to their widespread clients for a shorter period of time. Also, they have been introducing fuel-efficient variants of their best-selling aircraft programs with the purpose to address the biggest requirement of the airline industry, which is the fuel-efficient aircraft.
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However, the growing usage of composites in the next-generation aircraft is demanding adhesives and special bonding techniques, substitute materials of fasteners. This is corresponding to a lower demand for fasteners in the industry and so are coatings for it. Furthermore, the production of these composite rich aircraft, mainly B787 and A350XWB, is increasing that is sharpening its impact on the demand for fasteners and their coating materials.

The global aircraft fastener coatings market is segmented based on the aircraft type as Commercial aircraft, Regional aircraft, General aircraft, Helicopter, and Military aircraft. Commercial aircraft is likely to remain the largest aircraft type in the global aircraft fastener coatings market during the forecast period. The aircraft type is also likely to witness the highest growth during the same period. Increasing production rates of key programs, such as B737 and A320 family; market entry of new players, such as COMAC; upcoming aircraft programs or introduction of variants of existing programs, such as B737max and COMAC C919; and rising commercial aircraft fleet are the major factors that are driving the demand for fastener coatings in the segment.

Based on the coating type, the aircraft fastener coatings market is segmented as cadmium coating, dry lubricant, silver coating, aluminum coating (IVD aluminum), and others. Coating material for fasteners is largely dependent on the fastener materials and application where it is used. Cadmium coating is likely to remain the most dominant segment of the aircraft fastener coatings market over the next five years. The cadmium coating is only permitted for some applications in aircraft and for some other industries, but it is severely restricted in many countries. Cadmium offers a wide array of advantages including high corrosion resistance, good conductivity for EMI shielding, electrical bonding and lightning strike protection, and inherent lubricity that reduces galling. Dry lubricant, another considerable segment, is likely to witness an impressive growth rate in the market during the same period, driven by a host of factors, such as excellent ability to work in extreme temperatures, good thermal break down, and reduction of friction between surfaces in the extreme environment.

Based on the application type, aerostructure is projected to maintain its dominance in the market over the next five years. The manufacturing and assembly of aerostructure parts alone require millions of fasteners. There is a need for coatings on these fasteners to protect them from the external environment and to retain their strength for the long run. Different applications require different coating types for fastener depending upon the performance requirement. For instance, engine application requires coating on fasteners that can withstand harsh environmental conditions at elevated temperature.
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Based on the process type, the spray coating process dominates the market and is projected to maintain its dominance during the forecast period as well. The process has great dispersion with the coating materials, which enables the application of a very thin but tough coating layer. Electroplating method, another considerable segment, is likely to depict a good growth in the market during the same period. Some other key processes include dip coating and spin coating.

Based on the regions, North America is projected to remain the largest market during the forecast period. The region is the manufacturing capital of the aerospace industry with the presence of several large- to small-sized OEMs, tier players, distributors, fastener manufacturers, and airline companies. The USA is the growth engine of the region’s market and has the presence of almost all major aircraft OEMs including Boeing, Airbus, Cessna, Lockheed Martin, and Gulfstream.

Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus in China, upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ), and rising aircraft fleet size. Major Asian economies, such as China, India, and South Korea, have incessantly been raising their defense budget in order to advance their defense capabilities. This trend is impacting the demand for fasteners for OE as well as aftermarket.

The supply chain of this market comprises raw material suppliers, fastener coating suppliers, fastener manufacturers, distributors, component manufacturers, aircraft OEMs, airline companies, leasing companies, and MRO companies. Some of the key companies in fastener coating market include Arconic Corporation, Curtiss-Wright Corporation (E/M Coating Services), Endura Coatings LLC, Innovative Coatings Technology Corp. (INCOTEC), Lisi Aerospace, PPG Aerospace, Precision Castparts Corporation, and TIODIZE Co., Inc.

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.

Category Aerospace & Defense
https://www.stratviewresearch.com/370/Aircraft-Fastener-Coatings-Market.html

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

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Stratview Research
Crystal Tower, Raipur - 492001
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Email :- sales@stratviewresearch.com

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