DETROIT, Feb. 14, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new market research report on Aircraft Specialty Fasteners Market by Aircraft Type (Commercial Aircraft, Military Aircraft, Helicopter, Regional Aircraft, and General Aviation), by Product Type (Blind Rivets, Blind Bolts, Solid Rivets, Panel Fasteners, Studs and Inserts, and Others), by Material Type (Titanium, Aluminum, Steel, and Others), by Application Type (Airframe, Engine, Flight Control Surface, Interior, and Others) by End-User Type (OE, and Aftermarket) and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
This market report, from Stratview Research, studies the aircraft specialty fasteners market over the trend period of 2013 to 2018 and forecast period of 2019 to 2024. The research report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Aircraft Specialty Fasteners Market: Highlights
In the aerospace industry, specialty fasteners refer to a specific family of fasteners, whose usage is to address distinct industry requirements. Specialty fasteners address challenging requirements such as high speed/automated assembly, sandwich panel installation, thin sheet assembly, mounting to surfaces that cannot accept through-hole technology, blind assembly, frequent joint access, and optimization of preload in highly loaded joints. Specialty fasteners often save time in the assembly process and eliminate the need for additional fastening components, which results in an overall reduced cost.
As per Stratview Research, the global aircraft specialty fasteners market is likely to witness a healthy growth over the next five years to reach an estimated value of US$ 1.3 billion in 2024. The major factors underpinning the growth of aircraft specialty fasteners are: an incessant increase in air passenger traffic all around the world, which is triggering an increase in the production rates of the key programs such as B737, A320 family, B787, and A350XWB; market entry of new players such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs such as B737 max, A320neo, and B777x; and increasing aircraft fleet size.
Commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period. Both major commercial aircraft OEMs: Boeing and Airbus, are increasing the production rates of their best-selling aircraft in order to meet a huge pile of order backlogs. Also, COMAC and Irkut are entering the commercial aircraft industry with their C919 and MC-21 aircraft programs. Boeing anticipated that there would be total deliveries of 42,730 commercial aircraft worth US$ 6.3 trillion in the global marketplace during 2018-2037.
Based on the product type, the market is segmented as blind rivets, blind bolts, solid rivets, panel fasteners, studs and inserts, and others. Blind rivet is expected to remain the largest segment of the market during the forecast period, propelled by its installation efficiency and ergonomic benefits over traditional fasteners. The rivet type is also estimated to grow the fastest in the coming five years. Blind bolt, another member of blind fasteners family, is subjected to grow at an impressive rate in the same period.
Specialty fasteners are made using a wide array of materials such as titanium, aluminum, steel, and others. Titanium-based specialty fasteners dominate the market and are expected to maintain their position during the forecast period as well. In the aircraft industry, there has been an incessant replacement of steel and other heavy metal-based fasteners with titanium fasteners, owing to their excellent performance at a relatively low weight. Also, titanium fasteners are highly compatible with composite parts, which are increasingly being used in the next-generation aircraft including B787, A350XWB, and B777x.
In terms of region, North America is expected to remain the largest market for aircraft specialty fasteners during the forecast period. All the major specialty fastener manufacturers have their presence in the region to address the teething issues of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs. However, Asia-Pacific is expected to expand at the highest rate during the forecast period with China, Japan, and India being the key sources of growth. Major companies in the Asia-Pacific region are striving hard to develop commercial and regional aircraft to meet the huge indigenous demand and to mitigate the level of dependency on Boeing and Airbus.
The key players in the aircraft specialty fasteners market are Arconic Inc., TriMas Corporation, PCC Fasteners, LISI Aerospace, and Stanley Black and Decker. Development of lightweight and durable specialty fasteners, forming strategic alliances with aircraft OEMs, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the specialty fasteners market in the global aircraft industry and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the six ways in which the market is segmented:
Aircraft Specialty Fasteners Market, By Aircraft Type
Aircraft Specialty Fasteners Market, By Product Type
Aircraft Specialty Fasteners Market, By Material Type
Aircraft Specialty Fasteners Market, By Application Type
Aircraft Specialty Fasteners Market, by End-User Type
Aircraft Specialty Fasteners Market, by Region
Stratview Research has number of high value market reports in the global aerospace & defense industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Aerospace & Defense Industry
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Aircraft Blind Bolts Market by Aircraft Type (Commercial Aircraft, Regional Aircraft, Helicopter, Military Aircraft, and General Aviation), by Application Type (Airframe, Control Surfaces, Interior, Engine, and Others), by Material Type (Titanium Bolts, Aluminum Bolts, Steel Bolts, and Other Bolts), by Blind Bolt Type (Drive-Nut Bolt and Pull Type Bolt), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
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