New York, NY -- (SBWIRE) -- 03/05/2021 -- The Global Aerospace Fastener Market is expected to reach USD 10.34 Billion by 2026, according to a new report by Reports and Data. The increasing demand for flight journey across the world is estimated to stimulate the market demand in the upcoming years. Airlines across the globe are increasing their activities to cater to more passengers by updating their fleets and adding modern aircraft that are more fuel-efficient to compete with low-cost competitors while sustaining healthy profitability. As aerospace fasteners are used in the manufacturing of aircraft, the demand for these components is anticipated to increase as more people opt for air travel both domestically and internationally. The aviation industry has seen substantial growth over the past 20 years, with the number of passengers rising from 1.47 Billion in 1998 to 3.98 Billion in 2017.

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Top Players Covered in the Report Include:
Alcoa Fastening Systems & Rings
Stanley Black & Decker Inc
LISI Aerospace
Precision Castparts Corp
TriMas Corporation
National Aerospace Fasteners Corp
Others

Additionally, to serve the increasing domestic traffic especially in the Asia Pacific region from developing economies like China and India, the service providers are focusing on low-cost carriers (LCCs) for the vast majority of available seats. For instance, owing to the rapid growth in air traffic, over 80% of all new airplane deliveries in India is expected to be single-aisles. The Indian economy is likely to experience significant growth in the upcoming years, and this will continue to propel the growth of India's middle class and its inclination to travel both domestically and internationally by air, resulting in the need for new aircraft. Aerospace fasteners are critical to the manufacturing of these aircraft, which, in turn, would positively impact market growth.

Scarce availability of materials used in the production of aerospace fasteners may hamper the growth of the market in the forecast period. Further, composite components can be made into complex shapes that, for metallic parts, would require machining and create joints. Pre-formed composite components are not just lightweight and strong, but also reduce the number of heavy fasteners and joints, thus restricting the growth of the market.

Further key findings from the report suggest
By product type, rivets held a substantial market share, in terms of volume, in 2018.

Aluminum fasteners dominated the market in 2018 and is expected to maintain its dominance in the forecast period growing at a rate of 6.4%.

By end user, the defense & space sector is forecasted to grow at a rate of 6.5% in the forecast period owing to the growing demand for fighter jets in the defense sector as well as increasing space exploration activities.

The market in North America is contributed to the largest market share in 2018 and is projected to grow at a rate of 6.0% in the forecast period attributed to high demand for new aircraft as well as modernization of existing fleet in the region.

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For the purpose of this report, Reports and Data have segmented the global aerospace fastener market on the basis of product type, material type, usage, aircraft type, end user, and region:

Product Type Outlook (Volume, Thousand Units; 2016-2026 and Revenue, USD Million; 2016-2026)
Screws & Bolts
Nuts
Rivets
Special Products
Others

Material Type Outlook (Volume, Thousand Units; 2016-2026 and Revenue, USD Million; 2016-2026)
Aluminum
Steel
Titanium
Super Alloys
Others

Usage Outlook (Volume, Thousand Units; 2016-2026 and Revenue, USD Million; 2016-2026)
Permanent
Temporary

Aircraft Type Outlook (Volume, Thousand Units; 2016-2026 and Revenue, USD Million; 2016-2026)
Wide Body
Single-Aisle
Regional Jets

End User Outlook (Volume, Thousand Units; 2016-2026 and Revenue, USD Million; 2016-2026)
General Aviation
Commercial Aviation
Defense & Space

Regional Outlook (Volume, Thousand Units; 2016-2026 and Revenue, USD Million; 2016-2026)
North America
U.S.
Europe
UK
France
Asia Pacific
China
India
Japan
Latin America
Brazil
MEA

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Major Highlights of the Report:
The latest report offers a vivid depiction of the global Aerospace Fastener business sphere, with prime focus on its fundamental operations, industrial chain analysis, current and future market trends, as well as the prominent growth opportunities.
The report includes critical information on the present and historical market scenarios. Such information is used by market analysts to forecast the likely market conditions over the next eight years (2020-2027).
The strategic marketing recommendations, vital information related to the new market entrants, and the expansion plans of various business verticals are expected to help the reader visualize the competitive edge of the market.
Furthermore, the report scrutinizes the salient factors influencing the growth of the market in the near future.

Thank you for reading our report. If you have any requests for customization of the latest report, kindly get in touch with us. Our team will assist you and ensure the report is designed as per your requirements.

Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique

Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Aerospace Fastener Segmentation & Impact Analysis
4.1. Aerospace Fastener Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing demand for flight journey across the world
4.2.2.2. Increasing demand for new aircrafts
4.2.2.3. Government initiatives for the infrastructural development and repair
4.2.3. Market restraints analysis
4.2.3.1. Scarcity of raw materials
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis

Chapter 5. Aerospace Fastener Market By Product Type Insights & Trends

Continued…..