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Global Aerospace Fasteners Market Information by Application (Commercial Aerospace and Military), Aircraft Class (Commercial Aircraft & Military Aircraft), and Region (Americas (North and Latin), Europe, Asia Pacific, Middle East & Africa)- Forecast To 2023.

Market Scenario:

Fasteners are widely used in commercial and military aircraft, ballistic missiles and rockets, aftermarket service and their parts and components. The aerospace industry makes use of a different range of fasteners such as screws, bolts, rivets, nuts, hi-locks, and pins.

Growing demand for air travel worldwide has led to increased requirement for commercial aircraft fleet. Such an increase in the number of aircraft will simultaneously result in demand for aerospace fasteners. Aerospace fastener manufacturers are increasingly focusing on emerging regions, such as Mexico, Brazil, India, and North Africa because of the high demand for aircraft. This offers opportunities for third-party companies to partner with OEMs and open MRO service centers in these regions. The use of titanium fasteners and growing investment in interior cabin products have been encouraging market growth in the last five years. With technological advances being key to product acceptance, the introduction of software such as ASRP5, which allows the simulation of complex assembly processes, bodes well for the market.

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

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 have tensile strength as high as 160 ksi and shear strengths of 95 ksi.

Aircraft parts manufacturers are ramping up their production to meet the demand for titanium fasteners. In 2014, B/E Aerospace signed an agreement worth USD 950 million with United Technologies to provide aerospace fasteners, consumables, hardware, and logistical services. In October 2015, Alcoa got a contract worth USD1 billion from Airbus for the supply of titanium fasteners. In 2011, Carpenter Technology invested USD 5 million to expand its capacity for producing aerospace fasteners. These fasteners will be used in the airframes of the Boeing Dreamliner 787.

Rapid shifts in technology make it difficult for vendors to design appropriate fasteners and other related products, and has been a cause for concern among vendors. The increased retirement of maintenance intensive aircraft in favour of more electronic aircraft, which require a far fewer number of fasteners, will also hamper market growth to some extent.

The aerospace fasteners market is expected to grow at a CAGR of 7.85% during the period 2017-2023.

Regional Analysis

The Americas is home to a few of the world’s most renowned commercial aircraft and business jet manufacturers, namely, Boeing, Bombardier, Gulfstream, and Embraer. Companies such as Boeing often engage in R&D projects with the manufacturers of aerospace fasteners. U.S., 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 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 U.S.

Key Players

The global aerospace fasteners market is highly competitive, and vendors compete based on cost, product quality, reliability, and aftermarket service. To survive and succeed in such a competitive environment, it is important for vendors to provide cost-effective and high-quality aerospace fasteners with latest technology and materials.

key players in this market are 3V Fasteners Company(U.S.), Aloca (U.S.), B&B Specialties(CA), KLX(U.S.), LISI (France), CDP Fastener Group(MA), National Aerospace Fasteners (Taiwan), Stanley Aerospace Fastening(USA), TFI Aerospace(Canada), Wesco Aircraft Holdings(U.S.).

Read More @ https://www.marketresearchfuture.com/reports/aerospace-fasteners-market-1138