Aerospace Fasteners Market - Actionable Research on COVID-19 | Increasing Preference for Lightweight Materials to Boost the Market Growth | Technavio

LONDON--(BUSINESS WIRE)--The global aerospace fasteners market size is poised to grow by USD 2.51 billion during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

The increasing preference for lightweight materials is one of the significant factors driving the aerospace fasteners market growth. Regulatory bodies, such as the International Civil Aviation Organization (ICAO), are adopting stringent CO2 emission standards for aircraft to minimize the impact of aviation greenhouse gas emissions on the climate. As a result, aircraft manufacturers and aircraft fleet operators are focusing on advanced solutions such as reducing the weight of the aircraft by incorporating lightweight components. Titanium-based fasteners are also being used in military aircraft and missiles because of their high wear resistance and strength and ability to sustain high pressure and temperature. Since titanium fasteners are expensive than aluminum, steel, and alloy steel fasteners, their increasing use will boost the aerospace fasteners market growth over the forecast period.

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Report Highlights:

• The major aerospace fasteners market growth came from aluminum segment. It can be easily processed to produce pipes, bars, and wires because of its properties such as low weight density, high heat and electricity conductivity, corrosion resistance, and malleability. Apart from these properties, aluminum fasteners cost low, making them ideal for use in the aerospace industry for commercial, general aviation, business aircraft, and other applications.
• North America was the largest market for aerospace fasteners in 2019, and the region will continue to offer maximum growth opportunities to market vendors during the forecast period. Factors such as increasing demand for aircraft, fleet expansion by airline operators, and the presence of leading global airlines, aircraft manufacturers, and aircraft component manufacturers in North America are responsible for aerospace fasteners market growth in this region.
• The global aerospace fasteners market is concentrated. Arconic Inc., B&B Specialties Inc., Berkshire Hathaway Inc., Boeing Co., Click Bond Inc., LISI SA, MinebeaMitsumi Inc., National Aerospace Fasteners Corp., Stanley Black & Decker Inc., and TriMas Corp. are some of the major market participants. To help clients improve their market position, this aerospace fasteners market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the global aerospace fasteners market 2020-2024 is expected to have Negative and Inferior. As the pandemic spreads in some regions and plateaus in other regions, we reevaluate the impact on businesses and update our report forecasts.

Read the full report here: https://www.technavio.com/report/report/aerospace-fasteners-market-industry-analysis

Advantages of Additive Manufacturing Technology will be a Key Market Trend

The aerospace industry is increasingly adopting additive manufacturing or 3D printing technology to produce various components, including engine parts, fasteners, fuselage components, and other interior components. The advantages of additive manufacturing technology are expected to boost its adoption in the aerospace industry and emerge as one of the critical aerospace fasteners market trends. This technology is generally used to develop and manufacture products that have complex design geometry and uniform strength. Additive manufacturing technology helps in reducing the waste produced during component manufacturing and the overall manufacturing costs.

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Aerospace Fasteners Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist aerospace fasteners market growth during the next five years
• Estimation of the aerospace fasteners market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the aerospace fasteners market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of aerospace fasteners market vendors

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

• Preface
• Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Value-chain analysis
• Market characteristics
• Market segmentation analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2019
• Market Outlook
• Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

• Market segmentation by application
• Comparison by application
• Commercial and business aviation - Market size and forecast 2019-2024
• Defense and space - Market size and forecast 2019-2024
• Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: MARKET SEGMENTATION BY MATERIAL

• Market segmentation by material
• Comparison by material
• Aluminum - Market size and forecast 2019-2024
• Titanium - Market size and forecast 2019-2024
• Superalloys - Market size and forecast 2019-2024
• Steel - Market size and forecast 2019-2024
• Market opportunity by material

PART 09: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 12: MARKET TRENDS

• Emergence of additive manufacturing
• Increased adoption of adhesives
• Advances in stealth technology

PART 13: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 14: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Arconic Inc.
• B&B Specialties Inc.
• Berkshire Hathaway Inc.
• Boeing Co.
• Click Bond Inc.
• LISI SA
• MinebeaMitsumi Inc.
• National Aerospace Fasteners Corp.
• Stanley Black & Decker, Inc.
• TriMas Corp.

PART 15: APPENDIX

• Research methodology
• List of abbreviations
• Definition of market positioning of vendors

PART 16: EXPLORE TECHNAVIO

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