The aerospace fasteners market is predicted to reach US$ 7,834.5 million in 2022 and expand at a moderate rate of 6.4% CAGR. The market is anticipated to grow and reach US$ 14,568.9 million by 2032. Data from Future Market Insights show that the CAGR in the past was 4.8%.
The hardware elements known as fasteners are used to mechanically connect two or more things. Aerospace fasteners are special grade hardware items that are used to join elements of aircraft during original equipment manufacturing and aftermarket servicing, according to the same context. Ballistic missiles, rockets, satellites, and commercial and military aircraft all frequently use aerospace fasteners. Aerospace fasteners are created by tight guidelines and requirements to endure severe fatigue loads and sudden temperature changes.
A typical airplane may require millions of fasteners in the form of nuts, bolts, pins, rivets, washers, etc. The market for aerospace fasteners is expanding rapidly thanks to rising defense and space development activities. Due to the rise in air travel, the commercial civil aviation sector is expanding at a record-breaking rate each year, which has resulted in high demand for commercial aircraft. Over the projected period of 2022–2032, this is then anticipated to propel the market growth of the global aerospace fasteners market.
Major players in the global aerospace fasteners market include 3V Fasteners Company Inc., Alcoa Fastening Systems, TriMas Corporation (All fast), B&B Specialties Inc., B/E Aerospace, Stanley Engineered Fasteners (Emhart Teknologies LLC), LISI Aerospace, National Aerospace Fasteners Corporation, Precision Castparts Corp., TFI Aerospace Corporation, TPS Aviation Inc., etc.