Aircraft Specialty Fasteners Market Analysis | 2024-2032

“The aircraft specialty fasteners market value was US$ 850 million in 2023 and is likely to grow at a decent CAGR of 4.4% in the long run to reach US$ 1200 million in 2032.”

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Market Dynamics

Introduction

Fasteners are crucial in the aircraft industry, serving as essential hardware components found throughout the aircraft. They are used to join various parts of the aircraft, such as attaching the structure to the skin and installing and securing components like seats, stowage bins, and panels to the aircraft body. Fasteners are the most numerous components in an aircraft. For example, the A380 aircraft program consists of six million components, with more than three million of them being fasteners.

In the aerospace industry, specialty fasteners are a distinct category designed to meet specific and challenging requirements. These include high-speed or automated assembly, sandwich panel installation, thin sheet assembly, mounting on surfaces unsuitable for through-hole technology, blind assembly, frequent joint access, and optimizing preload in heavily loaded joints. Specialty fasteners streamline the assembly process by reducing the need for additional fastening components, saving time, and ultimately lowering overall costs.

Recent Market JVs and Acquisitions:

A huge number of strategic alliances including M&As, JVs, etc., have been performed over the past few years:

• In December 2021, TriMas Corporation acquired TFI Aerospace, a manufacturer of specialty fasteners used in a variety of applications for aerospace and other industrial end markets. This acquisition helped expand TriMas Aerospace’s fastener product lines by adding complementary niche products.
• In January 2020, Consolidated Aerospace Manufacturing, LLC (CAM) agreed to be acquired by Stanley Black & Decker, Inc.  This acquisition helps to further diversify the growth of Stanley Black & Decker, Inc.’s industrial business segment.

Segments Analysis

By Aircraft Type

“Commercial aircraft are expected to remain the largest demand generator for specialty fasteners in the forecasted period.”

• The aircraft specialty fasteners market is segmented into commercial, regional, helicopter, military, and general aviation.
• Commercial aircraft are projected to remain the largest and fastest-growing segment of the specialty fasteners market during the forecast period. Boeing and Airbus, the two leading commercial aircraft OEMs, are ramping production rates for their best-selling models to address substantial order backlogs. Additionally, new entrants like COMAC and Irkut are making strides in the commercial aircraft industry with their C919 and MC-21 programs. The return of the B737 Max to service and the expanding global aircraft fleets further contribute to the sustainable demand for specialty fasteners in the commercial aircraft segment.

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By Product Type

“Blind rivets are expected to remain the dominant product type in the market due to their ease of installation and ergonomic advantages over traditional fasteners.”

• The market is segmented into blind rivets, blind bolts, solid rivets, studs and inserts, panel fasteners, and other product types.
• Blind rivets are anticipated to remain the largest product type in the market during the forecast period, driven by their installation efficiency and ergonomic advantages over traditional fasteners. Additionally, blind rivets are projected to exhibit the fastest growth over the next eight years. Similarly, blind bolts, another key product in the blind fastener family, are expected to grow at an impressive rate during the same period.

By Application Type

“The airframe is projected to remain the primary application area for specialty fasteners and is also expected to witness the fastest growth during the forecast period.”

• The market is segmented into the airframe, flight control surfaces, interior, engine, and other application types.
• The airframe is anticipated to remain the most dominant segment of the market during the forecast period. As the largest structure in an aircraft, the airframe utilizes specialty fasteners in a variety of applications, including wings and fuselage, which underpins its leading position in the market.

By Material Type

“Titanium is expected to remain the most preferred and fastest-growing material type in the aircraft fastener market until 2032.”

• The market is segmented into titanium, aluminum, steel, and other material types.
• Titanium is expected to remain the dominant material type in the market during the forecast period. The aircraft industry has been gradually replacing steel and other heavy metal-based fasteners with titanium fasteners due to their superior performance at a relatively low weight. Additionally, titanium fasteners are highly compatible with composite materials, which are increasingly used in next-generation aircraft, such as the B787, A350XWB, and B777X. This compatibility is expected further to drive the demand for titanium fasteners in the industry.

Regional Analysis

“North America is expected to remain the largest market over the forecasted period, while Asia-Pacific is projected to grow at the fastest rate during the same period.”

• The market is segmented into North America, Europe, Asia-Pacific, and The Rest of the World.
• North America is expected to remain the largest market for aircraft specialty fasteners during the forecast period, driven by the presence of major aircraft OEMs, specialty fasteners suppliers, airlines, and MRO companies in the USA.
• Meanwhile, Asia-Pacific is projected to experience the highest growth, with China, Japan, and India being key growth drivers. The substantial increase in air passenger and freight traffic in China and India is prompting aircraft manufacturers and tier suppliers to establish manufacturing plants in the region. Companies in the Asia-Pacific region are working to develop commercial and regional aircraft to meet rising domestic demand and reduce reliance on Boeing and Airbus. The COMAC C919 is an example of such efforts, already generating significant unfulfilled orders.

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Key Players

The market is highly concentrated, with the presence of some regional and global players. 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. The following are the key players in the aircraft specialty fasteners market:

• Howmet Aerospace Inc.
• Precision CastParts Corp.
• TriMas Corporation
• Lisi Group
• Stanley Black & Decker, Inc.
• National Aerospace Fasteners Corporation

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The aircraft specialty fasteners market is segmented into the following categories. 

Aircraft Specialty Fasteners Market, by Aircraft Type

• Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Aircraft Specialty Fasteners Market, by Application Type

• Airframe (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Flight Control Surfaces (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Interior (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Other Application Types (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Aircraft Specialty Fasteners Market by Product Type

• Blind Rivets ((Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Blind Bolts (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Solid Rivets (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Stud and Inserts (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Panel Fasteners (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Other Products Types (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Aircraft Specialty Fasteners Market, by Material Type

• Titanium (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Aluminum (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Other Material Types (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Aircraft Specialty Fasteners Market, by End-User Type

• OE (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Aircraft Specialty Fasteners Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s aircraft specialty fasteners market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]

Recent Market News

• In December 2021, TriMas Corporation acquired TFI Aerospace, a manufacturer of specialty fasteners used in a variety of applications for aerospace and other industrial end markets. This acquisition helped expand TriMas Aerospace’s fastener product lines with the addition of complementary niche products.

• In January 2020, Consolidated Aerospace Manufacturing, LLC (CAM) agreed to be acquired by Stanley Black & Decker, Inc.  This acquisition helps to further diversify the growth of Stanley Black & Decker, Inc.’s industrial business segment.