A grayscale shot of the vintage airplane.
The Aerospace Fasteners Global Market Report 2023 by The Business Research Company, provides aerospace fasteners market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Aerospace Fasteners Global Market Report 2023, the market size grew from $6.65 billion in 2022 to $7.33 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global aerospace fasteners is expected to grow to $10.32 billion in 2027 at a CAGR of 8.9%.
The global air travel industry has increased rapidly as the standard of living of people has improved and their disposable income has also gone up over a period of time.
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The aerospace fasteners market is segmented:
1) By Product: Screws, Nuts and Bolts, Washers, Rivets
2) By Platform: Fixed Wing Aircraft, Rotary Wing Aircraft
3) By Material: Aluminium, Titanium, Alloy Steel
4) By End-Use: Commercial, Defence
The increase in use of super alloys is a key trend gaining popularity in the aerospace fastener market. Super alloys have high mechanical strength, resistance to thermal creep deformation, good surface stability, and resistance to corrosion or oxidation. For instance, SPS Technologies has adopted the super alloys and developed the MP35N as the first fastener superalloy. It provides the unique combination of high strength and outstanding corrosion resistance, with a 750 °F temperature capability.
The aerospace fasteners market report table of contents includes:
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Top Major Players
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