According to a recent report by Markets N Research, the global aerospace fastener market, which is currently valued at $7.2 billion in 2022, is expected to grow to $9.9 billion by 2030.
In the aerospace industry, aerospace fasteners play a key role in defining aircraft durability, reliability, structural integrity, and design.
The COVID-19 pandemic has significantly reduced civil and commercial air travel, made the supply of raw materials difficult, and slowed down aircraft fastener manufacturing and transportation operations in several locations around the world.
However, the air and space transport sector is on the upswing: aircraft orders are growing worldwide, partly due to infrastructure investments made by governments around the world to improve air transport facilities.
Consequently, the market for aerospace fasteners is expanding, with companies focusing on improving the efficiency of assembly processes. However, aircraft manufacturers are still struggling to keep up with demand.
Factors that can increase production capacity and market growth include the increasing use of robotics and 3D printing technology.
However, growth is being held back by t
According to a recent report by Markets N Research, the global aerospace fastener market, which is currently valued at $7.2 billion in 2022, is expected to grow to $9.9 billion by 2030.
In the aerospace industry, aerospace fasteners play a key role in defining aircraft durability, reliability, structural integrity, and design. The COVID-19 pandemic has significantly reduced civil and commercial air travel, made the supply of raw materials difficult, and slowed down aircraft fastener manufacturing and transportation operations in several locations around the world.
However, the air and space transport sector is on the upswing: aircraft orders are growing worldwide, partly due to infrastructure investments made by governments around the world to improve air transport facilities. Consequently, the market for aerospace fasteners is expanding, with companies focusing on improving the efficiency of assembly processes. However, aircraft manufacturers are still struggling to keep up with demand.
Factors that can increase production capacity and market growth include the increasing use of robotics and 3D printing technology. However, growth is being held back by the increasing use of composite materials in the production of aircraft parts. Demand for composite materials has grown globally due to their characteristics, including high strength, corrosion resistance, light weight, design flexibility, and low thermal conductivity.
Given all these factors, according to Markets N Research, the growth prospects for aerospace fasteners remain positive, with a compound annual growth rate (CAGR) of 5.50% percent over the forecast period.. Demand for composite materials has grown globally due to their characteristics, including high strength, corrosion resistance, light weight, design flexibility, and low thermal conductivity.
Given all these factors, according to Markets N Research, the growth prospects for aerospace fasteners remain positive, with a compound annual growth rate (CAGR) of 5.50% over the forecast period.
