Aerospace Fasteners Market to Hit USD 12.95 Bn by 2030 with 8.1% CAGR

Aerospace Fasteners Market Poised for Significant Growth Amid Rising Demand and Technological Advancements

The global aerospace fasteners market, valued at approximately US$ 7.51 billion in 2023, is projected to reach US$ 12.95 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 8.1% during the forecast period. This growth is primarily driven by the escalating demand for new aircraft and advancements in manufacturing technologies.

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Market Growth Drivers and Opportunities

Several factors are propelling the expansion of the aerospace fasteners market. The increasing number of air travelers has led to a surge in aircraft production, necessitating a higher volume of aerospace fasteners. Additionally, the shift towards lightweight and fuel-efficient aircraft has spurred the adoption of advanced materials such as aluminum, titanium, and superalloys in fastener manufacturing. These materials offer high tensile strength and corrosion resistance, aligning with the industry's emphasis on performance and efficiency.

Technological innovations, including the integration of 3D printing in aerospace manufacturing, present new growth avenues. This technology facilitates the production of complex fastener designs with enhanced precision, reducing material waste and production time. Moreover, the increasing investments by airlines in cabin interior products to enhance passenger experience are expected to drive the demand for specialized fasteners.

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Segmentation Analysis

The aerospace fasteners market is segmented based on material, platform, product, and application.

Material: Aluminum fasteners are widely used due to their low weight density, high conductivity, corrosion resistance, and malleability. However, superalloys or high-performance alloys have gained prominence recently for their ability to maintain integrity in high-temperature environments, versatility, and resistance to creep factors. This segment is expected to witness significant growth during the forecast period.

Platform: The market caters to both fixed-wing and rotary-wing aircraft. Fixed-wing aircraft, including commercial and military planes, represent a substantial share due to the high volume of production and demand for these aircraft types. Rotary-wing aircraft, such as helicopters, also contribute notably, especially in military and emergency services applications.

Product: The product segment includes nuts & bolts, screws, rivets, and others. Each product type serves specific applications within aircraft assembly, with nuts & bolts and screws being fundamental components in various structural and non-structural assemblies.

Application: The application spectrum encompasses military aviation, commercial aviation, and civil aviation. Commercial aviation holds a significant share, driven by the continuous expansion of airline fleets to accommodate growing passenger traffic. Military aviation also presents substantial demand, attributed to ongoing defense modernization programs worldwide.

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Country-Level Analysis

United States: The U.S. dominates the North American aerospace fasteners market, benefiting from a well-established aerospace industry and substantial defense budgets. The presence of major aircraft manufacturers and continuous investments in research and development bolster the demand for advanced fasteners. In 2023, North America accounted for approximately 35% of the global market share, with the U.S. being the primary contributor.

Germany: As a key player in the European aerospace sector, Germany's market is driven by collaborations among leading aerospace companies and a strong focus on innovation. The country's emphasis on precision engineering and quality manufacturing supports the growth of the aerospace fasteners market.

China: China's burgeoning aerospace industry, supported by government initiatives and increasing air travel demand, positions it as a significant market for aerospace fasteners. The country's efforts to develop indigenous aircraft and expand its commercial aviation sector contribute to the rising demand for fasteners.

India: India is emerging as a crucial player in the aerospace fasteners market, with its rapidly growing aviation sector and increasing collaborations with global aerospace firms. The country's focus on becoming a manufacturing hub for aerospace components is expected to drive market growth.

Japan: Japan's advanced technological landscape and strong aerospace manufacturing capabilities make it a notable market for aerospace fasteners. The country's involvement in both commercial and defense aviation projects sustains the demand for high-quality fasteners.

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Competitor Analysis

The aerospace fasteners market is characterized by the presence of several key players striving to enhance their market position through strategic initiatives.

Howmet Aerospace: A leading supplier of aerospace fasteners, Howmet Aerospace has demonstrated significant growth, with its stock nearly tripling over the past two years. The company's robust performance is attributed to increased demand in the commercial aerospace market and strategic investments in product innovation.

Precision Castparts Corp.: Specializing in complex metal components and fasteners, Precision Castparts Corp. serves major aerospace manufacturers, offering a comprehensive portfolio of fastening solutions.

LISI Aerospace: As part of the LISI Group, LISI Aerospace provides high-quality fasteners and structural components to the aerospace industry, focusing on innovation and customer-centric solutions.

Bossard Group: An international Swiss company, Bossard Group specializes in fastening technology and logistics, serving various industries, including aerospace. The company operates globally, with a strong presence in Europe, America, and Asia/Pacific.

Boeing: Beyond manufacturing aircraft, Boeing's involvement in producing aerospace components, including fasteners, underscores its integrated approach to the aerospace supply chain.

Recent Developments:

In February 2025, a significant fire at SPS Technologies' factory in the Philadelphia area disrupted the supply chain for specialized titanium fasteners. This incident prompted aerospace companies like Boeing, Safran, and GE Aerospace to seek alternative sources to maintain production schedules.

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