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Aerospace Fasteners Market: Global opportunity analysis and industry forecast, 2020-2027

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Sep 2020 | 33 Views
 
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COVID-19

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Aerospace fasteners are the hardware tools that are used for combining two or more objects in aircraft designing and manufacturing. The materials commonly used in the aerospace fasteners include nuts, bolts, titanium, nickel-based alloys, high strength alloys and others. The aviation industry is always ready to adopt new technologies in order to reduce the overall weight of the aircraft. The standards of aerospace fasteners materials such as high operating temperature and resistance to corrosion are kept in mind to improve the fuel economy. The aerospace fasteners are mostly used in military aircraft (fighter jets), ballistic missiles, defense, satellites and other commercial purposes aircraft.

 

Market scope and structure

                  Report Metric

                                       Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Application, material, product and Region

  Companies covered

Major players analyzed include Accumen Global technologies, Arconic Inc., B&B Specialists Inc., Boeing Distribution Services, 3V fasteners Company Inc., LISI Aerospace, Stanley Engineered fasteners, Alcoa Corporation, TriMas and National aerospace fasteners ltd.

 

 

Geographies covered

 North America

Europe

Asia-Pacific

LAMEA

U.S., Canada and Mexico

Germany, France, UK, Italy and the Rest of Europe

China, Japan, India, South Korea and the Rest of Asia-Pacific

Latin America, Middle East and Africa

 

 

 

 

 

 

 

 

COVID- 19 Scenario

  • The demand for the aerospace fasteners is expected to decrease in 2020 due to lockdown imposed by the government and low demand from the manufacturers of aircraft.
  • COVID-19 pandemic has shut-down the production of various products in aerospace fasteners industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of Aerospace fasteners market significantly from last few months, as is likely to continue during 2020.
  • COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The government regulations and initiatives for rapid growth in global air travel, high standard of living, tourism and relief in the import duties for the manufacturers majorly drives the Aerospace Fasteners. Further, many countries are focused on their defense system like fighter jets, military helicopters others and the space explorations through special aircraft, which majorly acts as a growth driver for aerospace fasteners. North America holds the largest share in the manufacturing and supplying of these fasteners followed by Europe. Asia-Pacific region like India, China, Indonesia and Japan are going to be the largest aircraft buyers in the forecast period. Asia-Pacific countries have begun to demand a certain portion of industrial operations from the aircraft makers so that they would enhance their industrial technologies.  Asia-Pacific is an emerging region and about to lead the market in near future. The High investments across different infrastructural and technological parts have empowered makers of Aerospace Fasteners to provide high quality products to the end users and meet the high demand. However, the high initial investment and high price of titanium fasteners are going to hamper the market growth. The high demand for these titanium fasteners in the aircraft manufacturing can act as a restraint due to its high cost factor. Contrarily, requirement for Aerospace Fasteners in defense system and commercial aircraft for the travelers present new opportunities in the industry.

The global Aerospace Fasteners market trends are:

New product launches to flourish the market

The launch of new products to the market can boost the growth of the market. In the past few years, many new products were launched in the aerospace fasteners market. These products are well advanced with the technology and have unique features. The demand for this hardware tools are increasing considerably and is going to take a healthy pace in the forecast period. In 2018, Arconic Company launched a new Huck Structural Blind Rivets in response to vibrating challenges. Further, it is described as the world's most grounded, generally solid, most steady visually impaired securing arrangement. Huck Structural Blind Rivets has a high tensile strength and possess clamp properties for joining the joints. It is built with a unique locking structure for lock torque performance. This new hardware tool category is much more flexible and durable than the old traditional fasteners used in the industries and is equipped with high automation technology. These new launches are very compatible and thus, can be easily utilized and reduce the wage cost to minimum.

Growing demand from industrial applications 

Now a days manufacturers are producing new products on the basis of interests of the customers. On the basis of application, Aerospace Fasteners are categorized to various types like general aviation industry, military aircraft, space exploration aircraft like rockets and other rotary wings helicopters. The military aircraft demand for these hardware tools are in large demand as the countries are mostly focusing in strengthening their defense system. Further, the use of special aircraft and rotary wing aircraft like helicopters are in great demand in many developing nations. Many factors that drive the growth of these commercials aircraft segment are the demographics and lifestyle, which in turn drives the aerospace fasteners market. The aviation fastener makers are progressively concentrating on developing countries such as Mexico, Brazil, India, and North Africa for using these fasteners in the aircrafts. This offers open doors for outsider organizations to team up with OEM’s and open MRO administration focuses in these areas. The government regulations and other initiatives are pushing the usage of Aerospace Fasteners in the aerospace sector. Manufacturing or importing these aerospace fasteners in this respective industries would definitely help in shaping the countries future in all types of Aircraft.

Key segments covered:

                 Segments

                                  Sub-segments

  Material

  • High strength Alloy
  • Titanium
  • Aluminum
  • others

  Product

  • Nuts
  • Bolts
  • Rivets
  • Screws
  • others

 

  Application

  • Military aircraft
  • Rotary wing aircraft
  • Commercial aircrafts

 

 

Key benefits of the report:

  • This study presents the analytical depiction of the Aerospace Fasteners Market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the Aerospace Fasteners market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed Market analysis based on competitive intensity and how the competition will take shape in coming years. 
 
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