The Aircraft Screws market is likely to rise at a CAGR of 6.6% during 2023-2028, to reach US$ 552.2 million in 2028, states Stratview Research.
DETROIT, Dec. 12, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global Aircraft Screws Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment and analysis, and competitive landscape.
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Report Highlights
Market Size in 2028 | USD 552.2 million |
Growth (CAGR) | 6.6% during 2023-2028 |
Forecast Period | 2023-2028 |
Trend Period | 2017-2021 |
Base Year | 2022 |
Number of Segments Covered | 5 |
Number of Tables & Graphs | 100+ |
Country-Level Market Assessment | 20 |
Segment Insights on the Aircraft Screws Market
The global Aircraft Screws Market is segmented based on aircraft type, material type, application type, end-use type, and region.
Based on the aircraft type - The aircraft screws market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. Commercial aircraft is expected to remain dominant as well as the fastest-growing aircraft type in the market 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.
Based on the material type - The aircraft screws market is segmented into titanium, steel, and other materials. Titanium is likely to remain the dominant as well as the fastest-growing material type in the aircraft screws market 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.
Based on the application type - The aircraft screws market is segmented into airframe, engine, flight control surfaces, interiors, and others. Airframe is projected to remain the biggest demand generator for screws in an aircraft 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.
Based on the end-user type - The market is bifurcated into OE and aftermarket sales. OE sales are likely to remain the larger as well as faster-growing segment 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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Which Region Offers the Best Opportunity and Growth?
The report suggests that North America is expected to remain the largest market for aircraft screws during the forecast period. 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, the Asia-Pacific is likely to depict the highest growth during the same period, 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.
Aircraft Screws Market Drivers
Some of the key reasons that are propelling the growth of the market include-
- Placement of a large number of aircraft orders fueled by an incessant increase in air passenger traffic.
- Increasing production rates of the key aircraft programs, such as the A320neo, B737 Max, A220, B787, and A350XWB.
- Rising global aircraft fleet size.
- Increasing demand for lightweight and corrosion-resistant screws.
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Top 5 Companies in the Aircraft Screws Market?
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.
- Precision Castparts Corp.
- LISI Aerospace
- Howmet Aerospace
- Stanley Black and Decker, Inc.
- TriMas Corporation
What Deliverables Will You Get in this Report?
Key questions this report answers | Relevant contents in the report |
How big is the sales opportunity? | In-depth Analysis of the Aircraft Screws Market |
How lucrative is the future? | The market forecast and trend data and emerging trends |
Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
Which are the most attractive market segments? | Market Segment Analysis and Forecast |
Which are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
How complex is the business environment? | Porter's five forces analysis, PEST analysis, Life cycle analysis |
What are the factors affecting the market? | Drivers & challenges |
Will I get the information on my specific requirements? | 10% free customization |
Related reports which might be useful:
- Aircraft Specialty Fasteners Market
- Aircraft Plastic Fasteners Market
About us
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. The reliability and insightfulness of the reports enable the readers take convincing business decisions.
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