According to a new report published by Ultra Market Research Insights, titled, “Aerospace Fastener Market Insights, Trends, Opportunity & Forecast, 2024–2030,” the global Aerospace Fastener market size is anticipated to at a witness single digit growth during forecast period i.e. 2020-2025. North America and Asia-Pacific collectively accounted for large share of market, due to surge in premium cabin-interior products to enhance passengers’ overall flight experience.

Market Dynamics
Improved air travel by international and domestic tourists, as well as government investments in enhancing air transportation facilities around the world, are driving demand for aerospace fasteners. Commercial and military aircraft segments are focusing on solidified defensive military aircraft, which is driving up demand for new planes and increasing need for aerospace fasteners.

Regional Analysis
North America accounted for largest market share in the Aerospace Fastener market. In North America, United States is offering growth opportunity during forecast period. Factors such as presence of aircraft manufacturers in United States. Furthermore, upsurge in number of component manufacturers in the region is positively impacting the growth of market. 
According to product type, the rivet segment for significant portion of market share during 2019. This can be attributed to the growing demand for fuel-efficient and lightweight aircraft, precision-made, technologically sound, lightweight, and high-performance fasteners are in high demand. In the next years, this market will be driven by advancements in research & development for lightweight and high-performance aerospace fasteners. 

The global Aerospace Fastener market is segmented into product, material, application and region. Based on product, the market is bifurcated into Bolts, Nuts, Rivets, Screws, Others. Based on material, it is classified into Aluminum, Titanium, Steel, Others. Based on application, it is classified into Commercial Aviation, Civil and Defense.

The global Aerospace Fastener market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa). Asia Pacific market is expected to witness lucrative growth during the forecast period. China, India, Japan and Korea are key contributors to the growth of Aerospace Fastener in Asia Pacific.

Impact of COVID-19
Global Aerospace Fastener has been negatively impacted by the outbreak of COVID-19 pandemic. The market is anticipated to witness lesser growth rate as presented in previous estimates. Aerospace Fastener market is hindered due to the stipulated lockdown declared by the government of various countries. 

Key Insights of Aerospace Fastener Market
On the basis of product type, the rivet segment will be major contributor to the growth of market.
On the basis of application, the commercial aviation segment captured highest share of the Aerospace Fastener market in 2019.
On the basis of region, North America accounted for largest regional market the overall market in 2019.
On the basis of region, Asia-Pacific is predicted to observe swift growth rate during the forecast period.  

Company Profile

Some of the major Aerospace Fastener companies profiled in the report include,

• B/E Aerospace
• STANLEY Engineered Fastening
• 3V Fasteners Company Inc.
• Alcoa Fastening Systems
• B&B Specialties Inc.
• Arconic
• Lisi Aerospace
• National Aerospace Fasteners Corporation
• Precision Castparts Corp
• TFI Aerospace Corporation
• Other Major & Niche Players