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Aircraft Blind Bolts Market to Reach US$ 306.5 million in 2024

 


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The Aircraft Blind Bolts Market: Highlights

Blind bolts currently account for less than 5% of the total aircraft fasteners market. However, the bolt type is expected to be one of the fastest-growing fastener types in the aircraft industry in the coming five years to reach an estimated value of US$ 306.5 million in 2024. The market for aircraft blind bolts is gradually consolidating as the major companies are performing mergers & acquisitions to quickly gain the leading position in the market. For instance; TriMas Corporation, a leading global manufacturer of highly engineered aircraft products, acquired the Allfast Fastening Systems at a total purchase price of approximately US$ 360 million. After the acquisition of Allfast Fastening Systems; TriMas Corporation has become a leader in the aircraft blind bolts market.

Aircraft Blind Bolts Market, by Aircraft Type:

The market is segmented based on the aircraft type as commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. Commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period. Increasing demand for blind fasteners over traditional fasteners; increasing production rates of key programs, such as B737, A320 family, B787, and A350XWB; market entry of new players, such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs, such as B737 max, A320neo, and B777X; and rising commercial aircraft fleet size across regions are the key factors propelling the demand for blind bolts in the commercial aircraft segment.

Aircraft Blind Bolts Market, by Application Type

Based on the application type, the market is segmented as airframe, control surfaces, interior, engine, and others. The airframe application is expected to remain the most dominant segment of the market during the forecast period. The airframe is the largest structure in the aircraft where blind bolts are used in a wide array of applications including wings and fuselage, leading to its dominance in the market.

Aircraft Blind Bolts Market, by Material Type

Based on the material type, the market is segmented as titanium blind bolts, aluminum blind bolts, steel blind bolts, and other blind bolts. Titanium blind bolts are expected to remain the largest segment of the market during the forecast period and is also expected to witness the highest growth during the same period. There has been an incessant replacement of steel and other heavy metal-based blind bolts with titanium blind bolts, owing to their excellent performance at a relatively low weight.

Aircraft Blind Bolts Market, by Region

In terms of regions, North America is expected to remain the largest market for aircraft blind bolts during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, blind bolt suppliers, and end users. All the major blind bolt manufacturers have their presence in the region to address the emergent needs of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

Asia-Pacific is expected to experience the highest growth in the market during the forecast period. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; increasing procurement of military aircraft owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ).

The supply chain of this market comprises raw material suppliers, blind bolt manufacturers, distributors, tier players, aircraft OEMs, airline companies, aircraft leasing companies, and MRO companies. The key players in the aircraft blind bolts market are TriMas Corporation, Arconic Inc. , PCC Fasteners, LISI Aerospace, Stanley Black and Decker, and Kwikbolt Limited. Development of lightweight and durable aircraft blind bolts and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

SOURCE: https://www.stratviewresearch.com/460/Aircraft-Blind-Bolts-Market.html

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