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The latest report by IMARC, titled “ AerospaceFastenersMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast2 023-2028
” " finds that the global aerospace fasteners market size reached US$ 6.7 Billion in 2022.
Aerospace fasteners are hardware tools that mechanically join two or more components together. They are durable and secure and enhance efficiency while reducing the overall weight of an aircraft. They include screws, rivets, nuts, bolts, and pins that are manufactured using titanium, aluminum, and steel and offer high tensile strength and corrosion resistance.
In addition, they are used to create non-permanent joints that can be removed without causing damage to the surrounding equipment. As a result, aerospace fasteners find extensive applications in military aircraft, rockets, ballistic missiles, and satellites.
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The market is primarily driven by the expanding civil aviation industry due to the inflating disposable incomes and growing urbanization across the globe. In addition, various airlines are heavily investing in premium cabin-interior products to enhance the overall flight experience of passengers, representing another major growth-inducing factor. Besides this, several manufacturers are using 3D printing and additive manufacturing (AM) technologies for producing aerospace components.
This, coupled with the increasing utilization of superalloys that are more cost-effective and lightweight than other metals to manufacture these fasteners, is also contributing to the market growth. Moreover, the implementation of favorable government policies to improve air transport infrastructure and the increasing space exploration activities are creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 9.5 Billion by 2028, exhibiting a CAGR of 5.8% during the forecast period (2023-2028).
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
BreakupbyProductType:
• Rivets
• Screws
• Nuts and Bolts
• Washers
• Others
BreakupbyMaterialType:
• Aluminium
• Alloy Steel
• Titanium
• Others
BreakupbyApplication:
• Interior
• Control Surfaces
• Fuselage
BreakupbyAircraftType:
• Narrow Body Aircraft
• Wide Body Aircraft
• Very Large Aircraft
• Fighter Jet
• Others
BreakupbyEnd-UseSector:
• Commercial
• Defense
• Others
BreakupbyRegion:
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
CompetitiveLandscapewithKeyPlayers:
• Arconic Fastening Systems & Rings
• B&B Specialties
• LISI Aerospace
• 3V Fasteners Company, National Fasteners Company
• TriMas Corporation
• Wesco Aircraft Holdings
• CDP Fastener Group
• TFI Aerospace Corporation
• Stanley Engineered Fastening
• Ho-Ho-Kus Inc
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https://www.imarcgroup.com/aerospace-fasteners-market
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