The aerospace titanium fasteners market share is expected to increase by USD 777.21 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6.11%.
This aerospace titanium fasteners market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers aerospace titanium fasteners market segmentation by application (commercial aerospace and military aerospace) and geography (North America, Europe, APAC, South America, and MEA). The aerospace titanium fasteners market report also offers information on several market vendors, including Arconic Inc., B&B Specialties Inc., Berkshire Hathaway Inc., The Boeing Co., Cherry Aerospace, Click Bond Inc., Lisi Aerospace SAS, MinebeaMitsumi Inc., National Aerospace Fasteners Corp., and TriMas Corp. among others.
What will the Aerospace Titanium Fasteners Market Size be During the Forecast Period?
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Aerospace Titanium Fasteners Market: Key Drivers, Trends, and Challenges
The development of next-generation engines is notably driving the aerospace titanium fasteners market growth, although factors such as increased usage of composite fasteners may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the aerospace titanium fasteners industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Aerospace Titanium Fasteners Market Driver
The development of next-generation engines is one of the key factors driving the growth of the global aerospace titanium fasteners market. Commercial aerospace engines and their development have seen extensive investments over the past few years. The GE9X engine (expected to be in service by 2020) is the most fuel-efficient aircraft engine produced by GE Aviation. The leading-edge aviation propulsion (LEAP) engine, which is considered to be the most fuel-efficient engine available in the market, entered into service in mid-2016 and had received more than $100 billion in orders and commitments and had propelled the growth of fuel-efficient aircraft engines. Safran and GE Aviation are developing the new LEAP engine, and it offers better performance than traditional engines. Another development in the field is the evolution of Formula 1 technology in commercial aerospace engines to power aircraft. The F1 engines are engineered to produce 780 horsepower and can operate at 20,000 rotations per minute. These fuel-efficient engines increase the speed of the aircraft considerably by the use of F1 gearbox technology. Similar to the LEAP engines, the F1 engines are manufactured using titanium fasteners to ensure the high durability and efficient performance of the engines.
Key Aerospace Titanium Fasteners Market Trend
The introduction of 3D printing will fuel the global aerospace titanium fasteners market growth. 3D printing or additive manufacturing is an evolving technology that helps users to create and design things in an innovative way and surpasses conventional methods like Computerized Numerical Control (CNC) cutting, mold manufacturing, or canvas printing. It is economical and allows for quick design and rapid changes of internal features in an aircraft, which was not possible in the traditional manufacturing methods. It can print electronics directly onto 3D surfaces, such as on an aircraft wing, which also helps in reducing the size and weight of the aircraft. Moreover, a large aircraft evidently requires almost a million fasteners, which require withstanding extreme and constant forces. Along with the strength, the components should have high flexibility and low weight with appropriate aerodynamic requirements. Components must be flexible, and lightweight, meeting aerodynamic requirements.
Key Aerospace Titanium Fasteners Market Challenge
The increased usage of composite fasteners is a major challenge for the global aerospace titanium fasteners market growth. Recently, there has been an increase in the use of composite fasteners during the development of aircraft, which has resulted in significant aerodynamic improvements such as reduced fuel consumption, enhanced range, and increased payload capabilities. The continued usage of high-performance carbon fibers increases the strength and stiffness of the composite fasteners, which add to the improved aircraft performance. These carbon fibers are equipped with necessary characteristics such as doubled strength and higher resistance to fatigue, as well as they are lightweight as compared to aluminum and steel. As a result of the continued usage of composite fasteners during the assembly and manufacture of an aircraft, it is expected that the demand for titanium fasteners would decline in the forthcoming years. Composite fasteners possess higher strength and are lightweight. They would lead to an increase in an aircraft's resistance to winds, which simultaneously increases the performance of the aircraft and reduce the operating costs.
This aerospace titanium fasteners market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global aerospace titanium fasteners market as a part of the global aerospace & defense market within the global capital goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the aerospace titanium fasteners market during the forecast period.
Who are the Major Aerospace Titanium Fasteners Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Arconic Inc.
- B&B Specialties Inc.
- Berkshire Hathaway Inc.
- The Boeing Co.
- Cherry Aerospace
- Click Bond Inc.
- Lisi Aerospace SAS
- MinebeaMitsumi Inc.
- National Aerospace Fasteners Corp.
- TriMas Corp.
This statistical study of the aerospace titanium fasteners market encompasses successful business strategies deployed by the key vendors. The aerospace titanium fasteners market is concentrated and the vendors are deploying growth strategies such as in-house manufacturing capabilities, a global footprint network, product offerings, R&D investments, and a strong client base to compete in the market.
Product Insights and News
- B&B Specialties Inc. - Some of the aerospace titanium fasteners supplied by the company includes 10-32J X 0.656 6-LOBE WASHER 6AL-4V, 10-32J X 0.781 6-LOBE WASHER
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The aerospace titanium fasteners market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Aerospace Titanium Fasteners Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the aerospace titanium fasteners market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global aerospace & defense market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Aerospace Titanium Fasteners Market?
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37% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for aerospace titanium fasteners market in North America. Market growth in this region will be slower than the growth of the market in regions.
The Development of next-generation engines will facilitate the aerospace titanium fasteners market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The regional market in focus was adversely affected by the COVID-19 pandemic in 2020. The US was the most severely hit economy worldwide owing to the pandemic. The temporary shutdown of manufacturing facilities and disruptions in supply chains affected the production of aircraft and the demand for components that go into them. This resulted in a decline in demand for aerospace titanium fasteners. However, in 2021, the initiation of large-scale vaccination drives has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.
What are the Revenue-generating Application Segments in the Aerospace Titanium Fasteners Market?
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The aerospace titanium fasteners market share growth by the commercial aerospace segment will be significant during the forecast period. With the introduction of more electric aircraft (MEA) such as Boeing 777X, Boeing 787, and Airbus A380, where the traditional hydraulic circuits were replaced by electric ones, there was a growing demand for titanium fasteners to resist the temperature variations (if any) and make the airplane lighter.
This report provides an accurate prediction of the contribution of all the segments to the growth of the aerospace titanium fasteners market size and actionable market insights on post COVID-19 impact on each segment.
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Aerospace Titanium Fasteners Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.11% |
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Market growth 2020-2024 |
$ 777.21 million |
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Market structure |
Concentrated |
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YoY growth (%) |
5.99 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 37% |
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Key consumer countries |
US, France, China, and Canada |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Arconic Inc., B&B Specialties Inc., Berkshire Hathaway Inc., The Boeing Co., Cherry Aerospace, Click Bond Inc., Lisi Aerospace SAS, MinebeaMitsumi Inc., National Aerospace Fasteners Corp., and TriMas Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Aerospace Titanium Fasteners Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive aerospace titanium fasteners market growth during the next five years
- Precise estimation of the aerospace titanium fasteners market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the aerospace titanium fasteners industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of aerospace titanium fasteners market vendors
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