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Aerospace Fasteners Market Robust Expansion by Global Key Manufactures, Growth Opportunities, Driving Factors, Demand and Supply To 2023

Aerospace Fasteners Market Research Report 2018: Global Industry Size, Share, Trends, Growth, Opportunity Assessment, Regional Analysis and Segmentation By Application (Commercial Aerospace and Military), Aircraft Class (Commercial Aircraft & Military Aircraft), and Region- Forecast To 2023.

Pune , India – October 19, 2018 /MarketersMedia/

Aerospace Fasteners Market – Market Overview

Aerospace fasteners have evolved over the years with the continuously transforming aerospace industry. They are widely used in commercial and military aircraft, their parts and components, ballistic missiles and rockets, and aftermarket service. The aerospace industry makes use of a wide range of fasteners such as bolts, nuts, screws, rivets, pins, and hi-locks.

Both civilian aircraft programs, comprising of Boeing 787, Bombardier’s new C-Series airliners, and Airbus A350, and military programs, comprising of aircraft such as Lockheed’s new F-35 Lightning II fighter jet, are favoring titanium aerospace parts. This preference is due to the lightweight property of these parts and their compatibility with carbon fiber reinforced composite structures, which drives their demand in the market.

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Titanium hardware weighs 40% lesser than non-titanium hardware. It is also corrosion resistant, has high strength-to-weight ratio, and retains properties at high temperature. Titanium parts can have tensile strengths as high as 160 ksi and shear strengths of 95 ksi. Titanium fasteners are similar to the aluminum, steel, or superalloy fasteners in strength and structure, however, these systems are lightweight and are temperature resistant. The aerospace industry makes use of a wide range of fasteners such as adhesive fasteners, blind rivets and blind bolts, bolts and screws, brackets, build-to-print components, cable tie and tie wraps, cap plugs, clamps, clips, pins, latches, locknuts and nuts, metric standard parts, fasteners and fastening systems (for composite applications), filters, fittings, gang channels, hinges, hoses, inserts and studs, solid rivets, spacers and bushings, specials, thread roll, blade locks, and collars.

Aircraft parts manufacturers are ramping up their production to meet the demand for titanium fasteners. In 2014, B/E Aerospace signed an agreement worth $950 million with United Technologies to provide aerospace fasteners, consumables, hardware, and logistical services. In October 2015, Alcoa got a contract worth $1 billion from Airbus for the supply of titanium fasteners. In 2011, Carpenter Technology invested $5 million to expand its capacity to produce aerospace fasteners. These fasteners will be used in the airframes of the Boeing Dreamliner 787.

Growing demand for air travel worldwide has led to increased requirement for commercial aircraft fleet. Similarly, for attaining greater dominance of countries over the skies, the defense authorities of many countries are modernizing their airborne defense and offense units by manufacturing and procuring a number of military planes. Such an increase in the number of aircraft will simultaneously result in demand for aerospace titanium fasteners.

Aerospace fastener manufacturers are increasingly focusing on emerging regions like Mexico, Brazil, India, and North Africa because of their high demand for commercial aircraft. This offers opportunities for third-party companies to partner with original equipment manufacturers (OEMs) and opens a number maintenance, repair, and overhaul (MRO) service centers in these regions. In addition, the use of titanium fasteners and growing investment in cabin interior products have been encouraging market growth in the last five years.

Key Players

The leading market players in the global aerospace fasteners market primarily include:

• 3V Fasteners
• Alcoa
• B&B Specialties
• KLX
• LISI Aerospace
• STANLEY Engineered Fastening
• NAFCO
• Stanley Aerospace Fastening
• Acument Global Technologies

Industry/ Innovation/ Related News:

2015:- Alcoa signed a multi-year contract worth $2.5 billion with Boeing, under which they would supply multi-material fastening systems for each of their airlines, including the 777X and 787 Dreamliner.

2015:- Alcoa signed a contract worth $1.1 billion to supply titanium fasteners for Lockheed Martin’s F-35 Joint Strike Fighter program. Under the contract, Alcoa would provide the titanium fasteners for the three variants of F-35 fighter aircraft, during 2016-2024

2014:- B/E Aerospace signed an eight-year contract worth $950 million with United technologies, to provide aerospace fasteners, consumables, hardware, and logistic services to the business units of UTC Aerospace (such as Pratt & Whitney, Sikorsky Aircraft, Goodrich, and Hamilton Sundstrand)

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Aerospace Fasteners Market – Segments

For the convenience of the report and enhanced understanding; the aerospace fasteners market is segmented in to three key dynamics

Segmentation by Application: Commercial Aerospace and Military.
Segmentation by Aircraft Class: Commercial Aircraft & Military Aircraft.
Segmentation by Regions: Comprises Geographical regions –Americas, Europe, APAC and Middle East and Africa.

Aerospace Fasteners Market – Regional Analysis

The Americas is home to few of the world’s most renowned commercial aircraft and business jet manufacturers, i.e., Boeing, Bombardier, Gulfstream, and Embraer. Companies such as Boeing often engage in R&D projects with the manufacturers of aerospace fasteners. The US, in particular, is making substantial investments in producing advanced fastening systems, which will be integrated across modern fighter jets and MEA such as Boeing 787.

North America extensively invests in the aerospace titanium fasteners, and thus generates a very high demand for these fastening systems. Although, Brazil and Canada make some investments in the development of these fastening systems, yet the market is primarily dominated by the US.

Europe, on the other hand, has been at the forefront of commercial aviation innovations, particularly with the recent nanotechnology-based innovations depicting the lightweight and energy-efficiency characteristics for metal-based components, which presents a number of opportunities for local manufacturers and stakeholders of aerospace fasteners. It develops advanced aerospace fasteners by unifying metallurgy with aeronautical excellence.

Concurrently, the market in the APAC region is expected to witness a steady growth during the forecast period owing to the increasing new aircraft numbers and growing passenger traffic. As a result of a significant economic growth during 2011-2016, APAC will witness several new airline companies coming into service and major aircraft manufacturers such as Airbus and Boeing setting up manufacturing facilities. Moreover, the region’s two major economies, India and China, have initiated the planning and development of the fifth and sixth generation fighter aircraft programs, such as the Tejas, Chengdu J-20, and the Shenyang J-31. Such initiatives would call for the increased development and procurement of titanium fasteners for both commercial and military aerospace.

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