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Aircraft Screws Market is Forecast to Reach US$ 552.2 Million in 2028, Says Stratview Research
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The global Aircraft Screws Market is segmented based on aircraft type, material type, application type, end-use type, and region.
- The aircraft screws market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. during the forecast period. The dominance of the segment is led by the requirement for the most fasteners in the aircraft type, owing to its larger and more complex structure than other types of aircraft. The increasing production rate of key aircraft programs such as the B737 and A320, the entry of new aircraft manufacturers in the market, which includes COMAC and Irkut, and the rising fleet size of aircraft are expected to drive market growth during the forecast period.
- The aircraft screws market is segmented into titanium, steel, and other materials. over the next five years, propelled by the increasing usage of titanium in the manufacturing of screws by replacing traditional steel and aluminum screws. Titanium offers a significant weight-saving advantage along with excellent corrosion resistance as compared to other competing materials.
- The aircraft screws market is segmented into airframe, engine, flight control surfaces, interiors, and others. during the forecast. The fuselage and wings cover a large surface area and have thousands of screws deployed in them, which makes the airframe the most dominant segment.
- The market is bifurcated into OE and aftermarket sales. of the market during the forecast period. A large number of screws are required during the production of aircraft. Increasing aircraft production would contribute to the growth of the market during the forecast period.
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The report suggests that . This growth is majorly attributed to the following –
- The region is the manufacturing capital of the aircraft industry with the presence of several large- to small-sized aircraft OEMs, tier players, screw manufacturers, and distributors.
- The USA is not only the largest market for aircraft screws in North America but also in the world. Boeing, Lockheed Martin, Bell Helicopter, Gulfstream Aerospace Corporation, and The Cessna Aircraft Company are some of the major OEMs in the USA , which generate a healthy demand for screws in the country.
Likewise, owing to the growing demand for screws fueled by the establishment of new manufacturing sites of aircraft OEM and tier players in the region. China and
India are the growth engines of the
Asia-Pacific's aircraft screws market. These economies keep on generating high demand for commercial aircraft to support the rising passenger traffic.
Some of the key reasons that are propelling the growth of the market include-
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The market is moderately concentrated, with the presence of some key regional and global players. Development of lightweight and durable screws, forming strategic alliances with aircraft OEMs, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market. The following are the key players in the aircraft screws market.
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
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