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Aircraft Specialty Fasteners Market is Likely to reach an estimated value of US$ 1.3 billion in the coming Years

05-21-2019 09:10 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Stratview Research

Aircraft Specialty Fasteners Market is Likely to reach

Stratview Research has launched a new research report on Aircraft Specialty Fasteners Market. Published on Feb, 2019, this 296-page report segments the market in following ways to provide a 360-degree holistic view.

The forecast of the market size has been segmented by –
 Aircraft Type (Commercial Aircraft, Military Aircraft, and Others),
 Product Type (Blind Rivets, Blind Bolts, Solid Rivets, and Others),
 Material Type (Titanium, Aluminum, Steel and Others),
 Application Type (Airframe, Engine, and Other),
 End-User Type( OE & Aftermarket),
 Region
o North America (Country Analysis: The USA, Canada, and Mexico)
o Europe (Country Analysis: Germany, France, the UK, Spain, Russia, and Rest of Europe)
o Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
o Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Aircraft Specialty Fasteners market.

Years considered for this report –
 base year 2019
 trend period 2013 – 2018
 forecast period 2019 – 2024

Go through the detailed scope:-https://www.stratviewresearch.com/469/aircraft-specialty-fasteners-market.html

Or

Get a free sample of the report:-https://www.stratviewresearch.com/Request-Sample/469/aircraft-specialty-fasteners-market.html

The Aircraft Specialty Fasteners Market: Highlights

Fasteners play a vital role in the aircraft industry and are amongst the most essential hardware components. They are situated across the aircraft and are used not only to join different parts of aircraft together, such as aircraft structure to skin, but are also used to install and affix components such as seats, stowage bins, and panels to the aircraft body. They have the highest count among all the components. For an instance; an A380 aircraft program is made of six million components, out of which more than three million are fasteners.

In the aerospace industry, specialty fasteners refer to a specific family of fasteners, whose usage is to address distinct industry requirements. Specialty fasteners address challenging requirements such as high speed/automated assembly, sandwich panel installation, thin sheet assembly, mounting to surfaces that cannot accept through-hole technology, blind assembly, frequent joint access, and optimization of preload in highly loaded joints. Specialty fasteners often save time in the assembly process and eliminate the need for additional fastening components, which results in an overall reduced cost.

The aircraft specialty fasteners market is likely to witness a healthy growth over the next five years to reach an estimated value of US$ 1.3 billion in 2024. The major factors underpinning the growth of aircraft specialty fasteners are: an incessant increase in air passenger traffic all around the world, which is triggering an increase in the production rates of the key programs such as B737, A320 family, B787, and A350XWB; market entry of new players such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs such as B737 max, A320neo, and B777x; and increasing aircraft fleet size.

Apart from the organic growth of the aircraft industry, the demand for specialty fasteners is also driven by a wide array of factors. Among which, the benefits of using specialty fasteners over traditional fasteners, such as faster assembly and accessibility to those surfaces that can’t accept holes, is one of the factors which is pushing the airframers, especially Airbus, to switch from traditional fasteners to specialty fasteners, especially blind fasteners.

The aircraft specialty fasteners market is segmented based on the aircraft type as commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. Commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period. Both major commercial aircraft OEMs: Boeing and Airbus, are increasing the production rates of their best-selling aircraft in order to meet a huge pile of order backlogs. Also, COMAC and Irkut are entering the commercial aircraft industry with their C919 and MC-21 aircraft programs. Boeing anticipated that there would be total deliveries of 42,730 commercial aircraft worth US$ 6.3 trillion in the global marketplace during 2018-2037. All these factors are likely to create sustainable demand for specialty fasteners for the commercial aircraft segment in the foreseeable future.

Rivet type is also estimated to grow the fastest in the upcoming years

Based on the product type, the aircraft specialty fasteners market is segmented as blind rivets, blind bolts, solid rivets, panel fasteners, studs and inserts, and others. Blind rivet is expected to remain the largest segment of the market during the forecast period, propelled by its installation efficiency and ergonomic benefits over traditional fasteners. The rivet type is also estimated to grow the fastest in the coming five years. Blind bolt, another member of blind fasteners family, is subjected to grow at an impressive rate for the same period.

Titanium-based specialty fasteners dominate the market

Specialty fasteners are made using a wide array of materials such as titanium, aluminum, steel, and others. Titanium-based specialty fasteners dominate the market and are expected to maintain their position during the forecast period as well. In the aircraft industry, there has been an incessant replacement of steel and other heavy metal-based fasteners with titanium fasteners, owing to their excellent performance at a relatively low weight. Also, titanium fasteners are highly compatible with composite parts, which are increasingly being used in the next-generation aircraft including B787, A350XWB, and B777x.

Airframe application is expected to remain the most dominant segment

On the basis of application, the aircraft specialty fasteners market is
segmented as airframe, flight control surfaces, interior, engine, and others. The airframe application is expected to remain the most dominant segment of the market during the forecast period. Airframe is the largest structure in the aircraft where specialty fasteners are used in a wide array of applications including wings and fuselage, leading to its dominance in the market.

North America is expected to remain the largest market

In terms of regions, North America is expected to remain the largest market for aircraft specialty fasteners during the forecast period. The USA is the growth engine of the region’s market with the presence of many specialty fastener manufacturers, large- and small-sized tier players, distributors, aircraft OEMs, airlines, and MRO companies. All the major specialty fastener manufacturers have their presence in the region to address the teething issues of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

Asia-Pacific is expected to expand at the highest rate during the forecast period with China, Japan, and India being the key sources of growth. Substantial growth in air passenger and freight traffic in China and India are compelling aircraft manufacturers and tier players to open their manufacturing plants in the region. Further, key economies in the region are incessantly increasing their defense budget with the purpose to acquire the latest military aircraft to solidify their defense capabilities. Major companies in the Asia-Pacific region are striving hard to develop commercial and regional aircraft to meet the huge indigenous demand and to mitigate the level of dependency on Boeing and Airbus. COMAC C919 and Mitsubishi MRJ are examples of such efforts, which are already successful in piling excellent unfulfilled orders. These aircraft are in the developmental phase and are expected to enter into service in a couple of years. All these factors are likely to contribute substantially towards the growth of the aircraft specialty fasteners market in Asia-Pacific during the forecast period.

Top Market players & the supply chain of this market

The supply chain of this market comprises raw material suppliers, specialty fastener manufacturers, fastener coating providers, large- and small-sized tier players, distributors, aircraft OEMs, aircraft leasing companies, airlines, and MRO companies. The key players in the aircraft specialty fasteners market are Arconic Inc., TriMas Corporation, PCC Fasteners, LISI Aerospace, and Stanley Black and Decker. Development of lightweight and durable specialty fasteners, forming strategic alliances with aircraft OEMs, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

Research Methodology

This report studies the global Aircraft Specialty Fasteners market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
 Extensive secondary research,
 Rigorous primary interviews with more than 15 industry stakeholders across the value chain.
 Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
 More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

Stratview Research has several high value market reports in the chemicals and materials industry. Please refer to the following link to browse through our reports:

Click Here for Other Reports from Stratview Research in the Aerospace & Defence Industry: https://www.stratviewresearch.com/market-reports/Aerospace-Defense.html

Stratview Research is a global market intelligence firm offering a wide range of services including syndicated market reports, consulting, sourcing intelligence, and customer research.

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