Rivets Push Aerospace Fastener Market, To Hit $3.74 Billion by 2026
The market for aerospace fasteners is projected to grow steadily in the next five years, driven by advancements in manufacturing techniques, and increases in sub-segments, particularly rivets.
From the 2018 baseline of $2.81 billion, aerospace fastener sales volume will rise to $3.74 billion in 2026, according to a new study by Fortune Business Insights. That rise is equivalent to a compound annual growth rate of 3.64 percent during the five-year period.
Rivets Segment to Exhibit a High CAGR
Among the segments mentioned in the report, the rivets type will witness considerable growth in the coming years due to the massive demand for the product. The increasing adoption of rivets in manufacturing of fuselage will aid the growth of this segment.
Additionally, the use of rivets in the exterior structures of aircraft assembly will contribute to the growth of this segment. The variations in rivets, combined with their cost-effective nature will fuel the demand for this product, which in turn will contribute to the growth of this segment. Besides rivets, the screws, nuts, and bolts are likely to witness huge demand in the coming years, due to their growing applications in aircraft manufacturing.
Driven by Aircraft OEMs, North America Dominates Global Market
In its study, which is based on regional demographics, Fortune Business Insights has labeled out North America as the region that is currently dominating the global market. The presence of aircraft OEMs has significantly contributed to the growth of the aerospace fasteners market in North America.
Additionally, the adoption of advanced manufacturing techniques and the integration of latest concepts has aided the growth of the aerospace fasteners market in North America. As of 2018, the aerospace fasteners market was valued at $1.14 billion, and is projected to rise at a healthy rate in the coming years.
Key Companies Covered in Aerospace Fasteners Market Research Report are 3V Fasteners Company, Inc., Arconic Inc., B&B Specialties Inc., Boeing Distribution Services, HC Merchandisers, Inc. (HC Pacific), LISI Aerospace, M.S Aerospace, National Aerospace Fasteners Corporation, Stanley Black & Decker, Inc., TFI Aerospace Corporation, TPS Aviation Inc., and Wurth Group.
Tapping into this dynamic fastener market arena, the thirst annual Fastener Fair USA will be located in Charlotte, NC, a major center of aerospace OEM, Tier 1 and Tier 2 suppliers. Many of these aerospace fastener market drivers will be exhibiting at or attending the show, which runs May 18-20, 2020 at the Charlotte Convention Center.
About Fastener Fair USA
Fastener Fair USA is North America’s fastest-growing trade show and conference event for the fastener industry and the manufacturing sectors it serves. Dynamic and productive, this two-day event serves as an important marketplace drawing fastener professionals from every segment of the market and all around the world.
Close to 2,200 fastener professionals participated in Fastener Fair USA 2019 in Detroit, surpassing the 2018 inaugural show in Cleveland. More than 270 exhibitors from 15 countries connected with customers in the aerospace, automotive, civil engineering, construction, energy, and machinery and other industries.
Visit www.fastenerfairusa.com for the most up-to-date information on Fastener Fair USA. For more information about Fastener Fair USA, to submit a conference abstract or to exhibit, contact Carroll at [email protected]