The Aircraft Titanium Fasteners Market: Highlights
The market for titanium fasteners for the aircraft industry is likely to be prosperous in the coming years with significant growth opportunities in the entire market value chain. It is estimated that the Aircraft Titanium Fasteners Market is likely to witness an impressive CAGR of 6.4% CAGR during the forecast period. The growth of titanium fasteners is likely to be much greater (6.4% vs 5.1%) than the overall aircraft fasteners market in the coming five years. This represents an increased preference for titanium fasteners over their counterparts.
Aircraft Titanium Fasteners Market - Insights by Aircraft Type:
The aircraft titanium fasteners market is divided into Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Body Aircraft, Regional Aircraft, General Aviation, and Military Aircraft. Narrow-body aircraft is projected to remain the largest aircraft type segment of the market during the forecast period of 2018 to 2023, propelled by best-selling A320 family and B737 aircraft programs including their fuel-efficient variants. However, wide-body aircraft is expected to grow at the highest CAGR during the forecast period. Increasing production rates of A350XWB and B787 are likely to spur the growth of the segment at a higher pace in the near future. Furthermore, the expected entry of fuel-efficient variants of B777 and A330 (B777x and A330neo) is likely to create an additional demand for titanium fasteners in the coming years.
Aircraft Titanium Fasteners Market - Insights by Region:
North America is expected to remain the largest market for aircraft titanium fasteners during the forecast period. The region is the world’s manufacturing capital of the aircraft industry with the presence of many large-to small-sized aircraft manufacturers, tier players, titanium fasteners manufacturers, distributors, and raw material suppliers. The region is the early innovator and introduces the latest technologies addressing the existing as well as future requirements than these technologies gradually transmitted to other parts of the world like China and India. Asia-Pacific is likely to depict the highest growth during the forecast period with China, Japan, and India being the key sources of growth. Substantial growth in air passenger and freight traffic in China and India are compelling aircraft manufacturers and tier players to open their manufacturing plants in the region.
The supply chain of this market comprises raw material suppliers, aircraft titanium fasteners manufacturers, distributors, tier players, aircraft OEMs, airline companies, aircraft leasing companies, and MRO providers. The key aircraft titanium fasteners manufacturers are Arconic Fastening Systems, Cherry Aerospace (a subsidiary of Precision Castparts Corp. ), Lisi Aerospace, Stanley Black & Decker Inc. , Trimas Corporation, National Aircraft Fasteners Corp. , B&B Specialties, Inc. , Penn Engineering, and TFI Aircraft Corp.