Aerospace Fastener Market By Product, Application, Region – Forecast to 2024
More Information @ http://bit.ly/2FiTlva Global Aerospace Fastener Market size is mainly driven by increasing demand for distinct aircrafts.
More Information @ http://bit.ly/2FiTlva
Global Aerospace Fastener Market size is mainly driven by increasing demand for distinct aircrafts.
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<strong>Aerospace</strong> <strong>Fastener</strong> <strong>Market</strong> growth outlook with<br />
industry review and forecast To <strong>2024</strong>: Global <strong>Market</strong><br />
Insights, Inc.<br />
<strong>Aerospace</strong> <strong>Fastener</strong> <strong>Market</strong> in APAC is predicted <strong>to</strong> be the fastest growing region<br />
owing <strong>to</strong> economic and income growth in emerging countries such as India and<br />
China. China has significantly contributed in the global traffic growth with an average<br />
rate of 10% each year. India’s emerging high growth economy is boosting passenger<br />
traffic in its domestic business and is predicted <strong>to</strong> become third largest commercial<br />
aircraft industry by 2020.<br />
Global air travel is growing at brisk pace owing <strong>to</strong> higher living standards along with<br />
increasing middle-class population, low air fares, and <strong>to</strong>urism growth. In addition,<br />
technology development and infrastructure investment will support the overall<br />
business demand.<br />
Increasing defense and space exploration activities contributes significantly in the<br />
aerospace fastener market revenue generation. Efficient and affordable strategies<br />
coupled with innovations will drive the industry demand. Alternative joining<br />
technologies such as welding, clinching, and using adhesives may limit the business<br />
demand. Usage of composite materials in aircraft manufacturing for reducing the<br />
overall weight will require less number of fasteners.<br />
United States Department of Defense (DoD), European Aviation Safety Agency<br />
(EASA), Federal Aviation Administration (FAA), and similar type of agencies in<br />
various countries will negatively impact the industry growth. In next decade, further<br />
demanding rules will be adopted by the industry players for which they may have <strong>to</strong><br />
incur additional cost <strong>to</strong> adhere with new set of regulations resulting in reduced<br />
profitability.<br />
Technological innovations are driving product acceptance across the aviation<br />
industry over the projected time span. Enhanced software systems offered <strong>to</strong> provide<br />
product management solutions will enhance the industry size. Assembly line<br />
engineers and software experts visualize and examine the process <strong>to</strong> maximize the<br />
fasteners usage by eliminating stress.<br />
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Rivet segment is expected <strong>to</strong> account for significant aerospace fastener industry<br />
volume share over the forecast timeframe. Two major types of rivet used in aircraft<br />
industry are common solid shank rivets and countersunk head rivets. Solid shank<br />
rivets are widely used in repair and assembly work. Countersunk head rivets are<br />
utilized where smooth finish is desired and is being adopted as a standard in the<br />
U.S.<br />
Commercial airlines segment is predicted <strong>to</strong> pose highest CAGR over the study<br />
period owing <strong>to</strong> consistent air travel demand growth trend. In 2017, North America<br />
accounted for 30% of the world’s commercial jets in service. Diverse terrain make air<br />
travel an attractive transportation alternative which is estimated <strong>to</strong> increase with<br />
personal income rise.<br />
Global aerospace fastener market players are B&B Specialties, Stanley Engineered<br />
<strong>Fastener</strong>s, TriMas Corporation (Allfast), 3V <strong>Fastener</strong>s Company, KLX, B/E<br />
<strong>Aerospace</strong>, National <strong>Aerospace</strong> <strong>Fastener</strong>s Corporation, LISI <strong>Aerospace</strong>, Alcoa<br />
Fastening Systems, TFI <strong>Aerospace</strong> Corporation, Precision Castparts Corp., and TPS<br />
Aviation.<br />
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