The global market of aerospace fasteners has grown steadily over the past few years, with an average growth rate of 7%.
According to Valuates, which offers an extensive collection of market research reports, the market size was valued at USD 5628 million in 2018 and is expected to grow at a CAGR of 5.82% by 2025.
The “Global Aerospace Fasteners Market Insights” report has found that the average cost for aerospace fasteners is on a downward trend, dropping form $9,100/MT in 2012 to $8,600/MT in 2016. With the current global economy, costs are expected to decline further in the next five years.
Threaded fasteners and non-threaded fasteners are included in this aerospace fasteners analysis. The proportion of threaded Fasteners is about 79% and non-threaded fasteners are at 21%. Greater interest in new generation aircraft has led to an increasing number of aircraft orders and deliveries.
Due to high demand from the United States, North America has accounted for the largest market share. The Asia-pacific market is expected to expand during the forecast period, showing the highest growth rate.
The Valuates’ report found that there are certain trends influencing the global aerospace fasteners’ market, including:
- The advent of 3D printing in aerospace manufacturing, which is predicted to generate new growth
- An increasing production rate of new aircraft
- Greater investment by airlines in cabin interior products
The report covers markets in the United States, Europe, China, Japan, and other regions.
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