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Aerospace Fasteners Market Size (2024 - 2029)

The aerospace fasteners market is projected to experience significant growth, driven by the increasing demand for new aircraft and the need to enhance production rates. The market's expansion is supported by rising air traffic, aircraft modernization programs, and increased investments in aircraft cabin interiors to improve passenger experience. Despite the competitive landscape with limited suppliers, opportunities for growth exist through the development of advanced and lightweight fasteners compatible with new technologies. These factors collectively contribute to the anticipated growth in the market size over the forecast period.

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Market Size of Aerospace Fasteners Industry

Aerospace Fasteners Market Summary
Study Period 2024 - 2029
Market Size (2024) USD 7.05 Billion
Market Size (2029) USD 9.94 Billion
CAGR (2024 - 2029) 7.10 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Aerospace Fasteners Market Major Players

*Disclaimer: Major Players sorted in no particular order

Aerospace Fasteners Market Analysis

The Aerospace Fasteners Market size is estimated at USD 7.05 billion in 2024, and is expected to reach USD 9.94 billion by 2029, growing at a CAGR of 7.10% during the forecast period (2024-2029).

The utilization of aerospace fasteners in the assembly of aerostructures is of paramount importance in ensuring the safety and reliability of aircraft. These fasteners are purposefully designed to satisfy specific performance requirements, including high strength, durability, and resistance to corrosion and fatigue. Their primary function is to securely fasten various parts and components, thereby facilitating the structural integrity of the aircraft.

Factors like the increasing number of orders for new aircraft and the need to increase the aircraft production rate are likely to create a demand for aircraft fasteners. Growing air traffic worldwide, rising aircraft modernization programs, and increasing spending on procuring new aircraft are driving market growth. Rising investments by the airlines in aircraft cabin interior products to enhance passengers' experience are also expected to boost market growth in the coming years.

The aerospace fastener market is a highly competitive industry with a limited number of suppliers and manufacturers. This factor can hamper the growth of the market, albeit partially. Nonetheless, innovative companies have new opportunities for growth due to the increasing demand for advanced and lightweight fasteners. In addition, the adoption of advanced technologies in the aerospace industry generates the need for fasteners that are compatible with these new technologies. Such factors are expected to drive the demand for the market during the forecast period.

Aerospace Fasteners Industry Segmentation

The aerospace fasteners include rivets, screws, nuts, bolts, clamps, and aircraft fittings in the various parts of an aircraft. The report study excludes the use of fasteners in space applications.

The aerospace fasteners market is segmented by application, material, and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). By application, the market is segmented into commercial aircraft, military aircraft, and general aviation aircraft. By material, the market is segmented into aluminum, steel, superalloys, and titanium. The report also covers the market sizes and forecasts for the aerospace fasteners market in major countries across different regions. 

For each segment, the market size is provided in terms of value (USD).

Application
Commercial Aircraft
Military Aircraft
General Aviation
Material
Aluminum
Steel
Superalloys
Titanium
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Russia
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
Saudi Arabia
Egypt
Israel
Rest of Middle East and Africa
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Aerospace Fasteners Market Size Summary

The aerospace fasteners market is poised for significant growth over the forecast period, driven by the increasing demand for new aircraft and the need to enhance aircraft production rates. Fasteners play a crucial role in ensuring the safety and reliability of aircraft by providing the necessary strength, durability, and resistance to environmental factors. The market is experiencing a surge in demand due to rising air traffic, aircraft modernization programs, and increased investments in aircraft cabin interiors to improve passenger experiences. Despite the competitive nature of the industry, with a limited number of suppliers, there are ample opportunities for growth through the development of advanced and lightweight fasteners that meet the evolving technological demands of the aerospace sector.

The market's expansion is further supported by the robust growth of commercial aircraft, which require millions of fasteners for assembly. The Asia-Pacific region is expected to witness remarkable growth, fueled by rising air and cargo traffic, the expansion of airports, and increased aviation expenditure in emerging economies like China and India. The procurement of new aircraft by airlines in this region, along with military aircraft acquisitions, is anticipated to drive market demand. Key players in the industry are focusing on innovation, such as 3D printing, to develop lightweight and efficient aircraft components, which are essential for improving fuel efficiency and reducing costs. This semi-consolidated market is characterized by major suppliers like 3V Fasteners, LISI AEROSPACE, and Boeing Distribution Services, who are actively contributing to the market's growth trajectory.

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Aerospace Fasteners Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Commercial Aircraft

      2. 2.1.2 Military Aircraft

      3. 2.1.3 General Aviation

    2. 2.2 Material

      1. 2.2.1 Aluminum

      2. 2.2.2 Steel

      3. 2.2.3 Superalloys

      4. 2.2.4 Titanium

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 India

        2. 2.3.3.2 China

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Mexico

        3. 2.3.4.3 Rest of Latin America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 Egypt

        3. 2.3.5.3 Israel

        4. 2.3.5.4 Rest of Middle East and Africa

Aerospace Fasteners Market Size FAQs

The Aerospace Fasteners Market size is expected to reach USD 7.05 billion in 2024 and grow at a CAGR of 7.10% to reach USD 9.94 billion by 2029.

In 2024, the Aerospace Fasteners Market size is expected to reach USD 7.05 billion.

Aerospace Fasteners Market Report Snapshots

Aerospace Fasteners Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)