Next-Gen Aircraft Designs Propel Aerospace Fasteners Market Expansion
The global Aerospace Fasteners Market is poised for steady growth, driven by rising demand for new aircraft production, increasing air travel, and modernization of military fleets. In 2023, the market was valued at USD 6.85 billion and is expected to expand significantly through 2031, supported by technological advancements in fastener materials and design.
Read Complete Report Details: https://www.kingsresearch.com/aerospace-fastners-market-153
Aerospace fasteners are critical components used to assemble and secure parts in aircraft structures. The market is segmented based on product types such as nuts & bolts, screws, rivets, and others. Among these, rivets and bolts hold a dominant share due to their extensive use in aircraft assembly for structural integrity and durability.
Key material types include:
-
Aluminum: Lightweight and cost-effective, widely used in commercial aircraft.
-
Steel: Offers high strength and is commonly used in high-stress areas.
-
Titanium and Superalloys: Preferred in modern aircraft for their excellent strength-to-weight ratio and corrosion resistance, especially in military applications.
Application Segments:
-
Commercial Aircraft: Holds the largest market share due to increasing global airline fleets and passenger traffic.
-
Military Aircraft: Growth driven by defense spending and technological upgrades.
-
General Aviation: Steady demand from private and business aircraft.
Market Highlights:
-
The rise in air passenger traffic is pushing airlines to expand and upgrade their fleets, boosting demand for aerospace fasteners.
-
Lightweight and corrosion-resistant materials are increasingly being used to enhance fuel efficiency and performance.
-
Advancements in manufacturing technologies like additive manufacturing and high-performance coatings are expected to improve product offerings.
Regional Insights:
-
North America dominates the market, led by the presence of major aircraft manufacturers and defense contractors.
-
Asia-Pacific is the fastest-growing region due to rising investments in domestic aircraft production and increasing air travel.
-
Europe also holds a significant share due to its robust aerospace sector.
Forecast: The aerospace fasteners market is projected to grow steadily from 2024 to 2031, driven by innovation, sustainability initiatives, and the need for fleet modernization.
About Kings Research
Kings Research is a leading market research and consulting firm that provides comprehensive market intelligence and strategic insights to businesses across various industries.
Explore to Related Reports:
Letara Raises 1.13 Billion Yen in Seed Round for Hybrid Spacecraft Propulsion\
What's Your Reaction?
