Aerospace Fasteners Market Research Report 2018 published By Market Research Future, provides information on Global Aerospace Fasteners Market By Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation by Application (Commercial Aerospace and Military), Aircraft Class (Commercial Aircraft & Military Aircraft), and Region (Americas (North and Latin), Europe, Asia Pacific, Middle East & Africa)- Forecast To 2023

Pune, India -- (SBWire) -- 08/31/2018 --Aerospace Fasteners Market – Market Overview

Aerospace fasteners have evolved over the years with the continuously transforming aerospace industry. They are widely used in commercial and military aircraft, their parts and components, ballistic missiles and rockets, and aftermarket service. The aerospace industry makes use of a wide range of fasteners such as bolts, nuts, screws, rivets, pins, and hi-locks.

Both civilian aircraft programs, comprising of Boeing 787, Bombardier's new C-Series airliners, and Airbus A350, and military programs, comprising of aircraft such as Lockheed's new F-35 Lightning II fighter jet, are favoring titanium aerospace parts. This preference is due to the lightweight property of these parts and their compatibility with carbon fiber reinforced composite structures, which drives their demand in the market.

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Titanium hardware weighs 40% lesser than non-titanium hardware. It is also corrosion resistant, has high strength-to-weight ratio, and retains properties at high temperature. Titanium parts can have tensile strengths as high as 160 ksi and shear strengths of 95 ksi. Titanium fasteners are similar to the aluminum, steel, or superalloy fasteners in strength and structure, however, these systems are lightweight and are temperature resistant. The aerospace industry makes use of a wide range of fasteners such as adhesive fasteners, blind rivets and blind bolts, bolts and screws, brackets, build-to-print components, cable tie and tie wraps, cap plugs, clamps, clips, pins, latches, locknuts and nuts, metric standard parts, fasteners and fastening systems (for composite applications), filters, fittings, gang channels, hinges, hoses, inserts and studs, solid rivets, spacers and bushings, specials, thread roll, blade locks, and collars.

Aircraft parts manufacturers are ramping up their production to meet the demand for titanium fasteners. In 2014, B/E Aerospace signed an agreement worth $950 million with United Technologies to provide aerospace fasteners, consumables, hardware, and logistical services. In October 2015, Alcoa got a contract worth $1 billion from Airbus for the supply of titanium fasteners. In 2011, Carpenter Technology invested $5 million to expand its capacity to produce aerospace fasteners. These fasteners will be used in the airframes of the Boeing Dreamliner 787.

Growing demand for air travel worldwide has led to increased requirement for commercial aircraft fleet. Similarly, for attaining greater dominance of countries over the skies, the defense authorities of many countries are modernizing their airborne defense and offense units by manufacturing and procuring a number of military planes. Such an increase in the number of aircraft will simultaneously result in demand for aerospace titanium fasteners.

Aerospace fastener manufacturers are increasingly focusing on emerging regions like Mexico, Brazil, India, and North Africa because of their high demand for commercial aircraft. This offers opportunities for third-party companies to partner with original equipment manufacturers (OEMs) and opens a number maintenance, repair, and overhaul (MRO) service centers in these regions. In addition, the use of titanium fasteners and growing investment in cabin interior products have been encouraging market growth in the last five years.

Aerospace Fasteners Market – Competitive Analysis

The leading market players in the global Aerospace Fasteners Market primarily include :

3V Fasteners, Alcoa, B&B Specialties, KLX, LISI Aerospace, STANLEY Engineered Fastening, NAFCO, Stanley Aerospace Fastening, and Acument Global Technologies.

The global aerospace fasteners market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain the maximum market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront the market growth. In addition, in-house manufacturing capabilities, global footprint network, product offerings, R&D investments, and a strong client base have become the key areas to have the edge over the competitors.

The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide advanced and high-quality aerospace fasteners in order to survive and succeed in an intensely competitive market environment.

The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving their products. Alcoa, B&B Specialties, and LISI Aerospace are the three major companies in the market, which compete in terms of availability, quality, price, and technology. They primarily focus on the implementation of lightweight materials, electric technologies, and robust systems. Although the international players are dominating the market, regional and foreign players with small market shares also have a presence. The international players may strengthen their presence worldwide through acquisitions during the forecast period. It is also forecasted that the improving global economic scenario is fueling the market growth, thereby making it an ideal time to launch new products.

The vendors with better technical and financial resources can develop innovative products that render the competitors' products obsolete and non-competitive even before they are launched, or costs are recovered. Therefore, vendors have to develop new technologies and stay abreast of emerging technologies that could affect the continuing competitiveness of their product lines in the market. The competitive environment in the market is likely to intensify further due to an increase in product/service extensions, technological innovations, and mergers and acquisitions.

It was found that when tensile tests are performed on test fasteners, the test fasteners fracture in the threaded region. A team of researchers from the University of South Florida performed relative ductility test of titanium alloy Ti 6Al-4V and stainless steel A286 aerospace fasteners of similar sizes and tensile strength. The resultant elastic and plastic deformation were evaluated from load versus displacement curves and simultaneously used to calculate the ductility index for each test fastener. The ductility index (which is represented as the relative ductility between the different fastener materials) for titanium alloy fasteners presents a value of about one-tenth the average value as compared to that of A286 fasteners. Furthermore, the fracture surfaces of the titanium alloy test fasteners generate a fracture perpendicular to the axis of tensile loading, whereas in the the A286 test fasteners the fracture takes place across three or four threads at about a 45° angle.

Thus, the relative ductility index values and fracture surface characteristics are both less in the titanium alloy fasteners. As per the tensile test results, the difference between yield and tensile strength of the titanium alloy was smaller, though around 20,000 psi more stress was experienced further to yield strength before its tensile strength was reached. The A286 could withstand twice stress of around 43,000 psi between the yield and tensile stress values. Such properties hinder the usage of titanium fasteners and therefore, higher emphasis is put on the joint design and reduction of the torque-preload equivalence uncertainty.

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Industry/ Innovation/ Related News:

2015:- Alcoa signed a multi-year contract worth $2.5 billion with Boeing, under which they would supply multi-material fastening systems for each of their airlines, including the 777X and 787 Dreamliner.

2015:- Alcoa signed a contract worth $1.1 billion to supply titanium fasteners for Lockheed Martin's F-35 Joint Strike Fighter program. Under the contract, Alcoa would provide the titanium fasteners for the three variants of F-35 fighter aircraft, during 2016-2024

2014:- B/E Aerospace signed an eight-year contract worth $950 million with United technologies, to provide aerospace fasteners, consumables, hardware, and logistic services to the business units of UTC Aerospace (such as Pratt & Whitney, Sikorsky Aircraft, Goodrich, and Hamilton Sundstrand)

Aerospace Fasteners Market – Segments

For the convenience of the report and enhanced understanding; the aerospace fasteners market is segmented in to three key dynamics

Segmentation by Application: Commercial Aerospace and Military.
Segmentation by Aircraft Class: Commercial Aircraft & Military Aircraft.
Segmentation by Regions: Comprises Geographical regions –Americas, Europe, APAC and Middle East and Africa.

Aerospace Fasteners Market – Regional Analysis

The Americas is home to few of the world's most renowned commercial aircraft and business jet manufacturers, i.e., Boeing, Bombardier, Gulfstream, and Embraer. Companies such as Boeing often engage in R&D projects with the manufacturers of aerospace fasteners. The US, in particular, is making substantial investments in producing advanced fastening systems, which will be integrated across modern fighter jets and MEA such as Boeing 787.

North America extensively invests in the aerospace titanium fasteners, and thus generates a very high demand for these fastening systems. Although, Brazil and Canada make some investments in the development of these fastening systems, yet the market is primarily dominated by the US.

Europe, on the other hand, has been at the forefront of commercial aviation innovations, particularly with the recent nanotechnology-based innovations depicting the lightweight and energy-efficiency characteristics for metal-based components, which presents a number of opportunities for local manufacturers and stakeholders of aerospace fasteners. It develops advanced aerospace fasteners by unifying metallurgy with aeronautical excellence.

Concurrently, the market in the APAC region is expected to witness a steady growth during the forecast period owing to the increasing new aircraft numbers and growing passenger traffic. As a result of a significant economic growth during 2011-2016, APAC will witness several new airline companies coming into service and major aircraft manufacturers such as Airbus and Boeing setting up manufacturing facilities. Moreover, the region's two major economies, India and China, have initiated the planning and development of the fifth and sixth generation fighter aircraft programs, such as the Tejas, Chengdu J-20, and the Shenyang J-31. Such initiatives would call for the increased development and procurement of titanium fasteners for both commercial and military aerospace.

Intended Audience

- Distributer & Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities

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