Aircraft Blind Fasteners Market to reach US$ 698.8 million in 2024

Posted by Stratview Research on October 4th, 2019

Aircraft Blind Fasteners Market: Highlights

Blind fasteners are the most talked subjects among the family of fasteners deployed in aircraft manufacturing/assembly. These fasteners have been gaining a fair share in the overall aircraft fasteners market, owing to changing preferences of OEMs’ from permanent fasteners to blind fasteners. Blind fasteners are gradually replacing traditional fasteners on account of rapid automation, which is of paramount importance as it reduces the lead time of the aircraft assembly.

Blind fasteners currently represent less than 12% of the total aircraft fasteners market and projected to grow at an impressive rate over the next five years to reach US$ 698.8 million in 2024. Increasing production rates of the next-generation composite-rich aircraft A350XWB, B787, and F-35; introduction of fuel-efficient variants of the best-selling aircraft with a greater composites content: A320neo and B737 max; upcoming aircraft programs, such as C919 and MC21; increasing preference of blind fasteners for assembling critical aerospace parts; and superior benefits of blind fasteners including ease of installation over the permanent fasteners are giving an impetus to the growth of blind fasteners in the aerospace industry.

Blind fasteners play a vital role in an aircraft assembly and are essential hardware components. They are used to affix and hold various parts and components of the aircraft together in applications, such as airframe, flight control surfaces, engine and interiors, to the aircraft structures. Blind fasteners are preferably used where the design of the structure or assembly sequence does not grant access from both sides. Blind fasteners can be broadly classified into blind bolts, blind rivets, blind nuts, and one-sided temporary fasteners.

Aircraft Blind Fasteners Market, by Aircraft Type

The aircraft blind fasteners market is segmented based on the aircraft type as commercial aircraft, regional aircraft, helicopter, military aircraft, and general Aviation. Commercial aircraft is likely to remain the growth engine of the market during the forecast period. Increasing production rates of the key programs, such as B737, B787, A350XWB, and A320 family; market entry of new players, such as COMAC and Irkut; and introduction of variants of existing and upcoming aircraft programs, such as B737 max, A320neo and B777x, are likely to create a strong demand for blind fasteners in the commercial aircraft segment. Further, Boeing in its commercial market outlook anticipated that there would be total deliveries of 42,730 commercial and regional aircraft worth US$ 6.3 trillion in the marketplace during 2018-2037. All these factors are likely to provide sustainable demand for blind fasteners in the commercial aircraft segment in the foreseeable future.

Aircraft Blind Fasteners Market, by Application Type

Based on the application type, the aircraft blind fasteners market is segmented as airframe, engine, flight control surfaces, interiors, and others. Airframe is likely to remain the most dominant segment during the forecast period, whereas flight control surfaces are likely to remain the fastest-growing segment during the same period. Airframe is the largest structure in the aircraft, where blind fasteners are used in a wide array of applications including wings and fuselage, leading to their dominance in the market.

Aircraft Blind Fasteners Market, by Material Type

Based on the material type, the aircraft blind fasteners market is segmented as titanium fasteners, steel fasteners, aluminum fasteners, and other fasteners. Titanium is projected to remain the most dominant as well as fastest-growing material type in the aircraft blind fasteners market over the next five years. Titanium blind fasteners offers a host of advantages over competing fasteners including good compatibility with composite parts, good corrosion resistance, excellent mechanical properties, heat resistance and high strength-to-weight ratio; leading to its widespread usage in the aircraft.

Aircraft Blind Fasteners Market, By Region

In terms of region, Europe is projected to remain the largest market for aircraft blind fasteners during the forecast period, driven by the world’s leading aircraft OEM, Airbus. The company has constantly been raising the production rates of key aircraft programs, such as A320 and A350XWB, to meet huge order backlog which stands at 7,287 jets on 30th April 2019. Airbus has a massive plan for its newly launched A350XWB program. The company is likely to raise the production rate from 6 aircraft per month in 2017 to 13 aircraft by 2019. Similarly, the company is also likely to raise the production rate of its best-selling program (A320 family including neo) from 46 aircraft per month in 2017 to 63 aircraft by 2019. The company is in process of contemplation to further raise the production rate to 70 aircraft per month in future.

Asia-Pacific is expected to witness the highest growth during the forecast period driven by opening of assembly plant of Boeing and Airbus in China for B737, A330, and A320; upcoming indigenous aircraft program i.e. COMAC C919 and Mitsubishi MRJ; and offset policies in military aircraft programs in countries such as India and South Korea. Further, key economies in the region are incessantly increasing their defense budget with the purpose to acquire the latest military aircraft to solidify their defense capabilities. All these factors are like to contribute significantly towards the growth of blind fasteners market in the region

TOP market players & the supply chain of this market

The supply chain of this market comprises raw material suppliers, blind fastener manufacturers, distributors, tier player, aircraft OEMs, and MRO companies. Some of the key players in the aircraft blind fasteners market are TriMas Corporation; Arconic Fastening Systems; PCC Fasteners; Lisi Aerospace; Stanley Black & Decker, Inc.; and Kwikbolt Limited. The key aircraft OEMs include Boeing, Airbus, Bombardier, Embraer, COMAC, Lockheed Martin Corporation, Dassault Aviation, and Gulfstream Aerospace.

Source:- https://www.stratviewresearch.com/484/aircraft-blind-fasteners-market.html