The aerospace titanium fasteners market size is projected to reach US$ 1.36 billion by 2031 from US$ 0.72 billion in 2023. The market is expected to register a CAGR of 8.2% during 2023–2031. Increasing adoption of military UAVs is likely to remain a key trend in the market.
Some of the key players operating in the global aerospace titanium fasteners market includes LISI Aerospace, Apollo Aerospace Components Limited, Howmet Aerospace Inc, KLX Inc, and 3V Fasteners. The market is fragmented with a large number of players catering to domestic and international demand. The companies constantly cater to the demand generated from their respective regional fleets which further driving the growth for titanium fasteners in te aerospace industry.
The aerospace titanium fasteners market ecosystem is diverse and evolving. Its stakeholders are raw material providers, aerospace titanium fastener manufacturers, and end-users. Major players occupy places in various nodes of the market ecosystem. Raw material suppliers provide materials to fastener manufacturers, who then utilize it to manufacture and design the final products. The final product is then supplied to aircraft manufacturers, component manufacturers, and MRO vendors through different mediums, such as direct sales through company distributors or third-party sales through third-party distributors. Aircraft OEMs or component manufacturers then integrate fastener products to their respective assembly products.
The maintenance, repair, and overhaul (MRO) operations consist of periodic inspection, defect rectification, overhaul, replacement, and the embodiment of aircraft modification for continuous airworthiness of an aircraft and its parts. Aircraft are periodically serviced that help replaces and repair various aerospace parts, such as landing gear and engine, for optimal functioning of aircraft. Thus, the increasing MRO spending for military and commercial aircraft is subsequently driving the growth of the aerospace titanium fasteners market. For instance, In March 2021, Sichuan Airlines awarded a five-year MRO services contract to MTU Maintenance for its A319, A320, and A321 aircraft. In April 2021, IndiGo Airlines extended its MRO contract with Air France Industries KLM Engineering & Maintenance for its A320 fleet. Moreover, other developments in the years 2022 and 2023 related to the contract based MRO activities across different regions have driven the market for aerospace fasteners across different regions in the past. Moreover, the growth in the aircraft MRO sector is another major factor likely to drive the market for aerospace titanium fasteners in the coming years as well.
The global aviation industry players emphasize manufacturing, integration, or mounting lightweight materials on aircraft models. The aviation authorities, aircraft manufacturers, aircraft component manufacturers, MRO service providers, and military forces seek lightweight materials for each component to extend the aircraft's flying range and increase fuel efficiency. Titanium alloy has become essential structural material for civil aviation as advanced civil aircraft manufacturers widely use it. Also, currently there are a lot of applicatios of titanium fasterens in the production of an aircraft. For instance, the applications of titanium fasteners in an aircraft include landing gears, jet engines, fan blades, wings, propellers, airframe, and different types of shafts. Further, the expected future deliveries of commercial aircraft of around 40,000 units by the end of 2042, is also likely to generate new opportunities for market vendors in the coming years.
Key segments that contributed to the derivation of the aerospace titanium fasteners market analysis are aircraft type, product type, application, and end user.
The geographic scope of the aerospace titanium fasteners market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the market in 2023 followed by Europe and Asia Pacific regions. Further, Asia Pacific is also likely to witness highest CAGR in the coming years. The US dominated the North America aerospace titanium fasteners market in 2023. The US has the largest aerospace industry across the globe. Based on the Federal Aviation Administration (FAA) statistics, between 2022 and 2043 the number of jets in the US mainline carrier fleet is forecast to grow from 3,915 to 5,925, attributing to the growth in air travel. Some of the world’s largest manufacturers of aircraft, namely Boeing, Lockheed Martin, Textron, Gulfstream, and Airbus have their manufacturing bases established in the US. Moreover, fasteners and other aircraft components are likely to be in high demand due to an increase in the orders for commercial and business aviation aircraft, which leads to eventually driving the aerospace titanium fasteners market.
The regional trends and factors influencing the Aerospace Titanium Fasteners Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aerospace Titanium Fasteners Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 0.72 Billion |
| Market Size by 2031 | US$ 1.36 Billion |
| Global CAGR (2023 - 2031) | 8.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Aircraft Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Aerospace Titanium Fasteners Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Aerospace Titanium Fasteners Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The aerospace titanium fasteners market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the aerospace titanium fasteners market are listed below:
The “Aerospace Titanium Fasteners Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America region dominated the aerospace titanium fasteners market in 2023.
Increasing adoption in military aircraft; rising developments by aerospace titanium fastener manufacturers; and increasing demand from MRO service providers are some of the factors driving the growth for aerospace titanium fasteners market.
Growing adoption in military UAVs is one of the major trends of the market.
XOT Metals, Leeart Industry Co Ltd, B&B Specialties Inc, 3V Fasteners, LISI Aerospace, Cherry Aerospace, Ferralloy Inc, Superbti Co Ltd, TFI Aerospace Corporation, and Torqbolt Inc are some of the key players profiled under the report.
The estimated value of the aerospace titanium fasteners market by 2031 would be around US$ 1.36 billion.
The aerospace titanium fasteners market is likely to register of 8.2% during 2023-2031.