The aerospace titanium fasteners market is projected to grow by U.S. $828.62 million, at a CAGR of over 6% during 2021-2025, per the latest market research report by Technavio. The report offers exclusive analysis on the market drivers, trends, challenges, and opportunities to be leveraged by stakeholders from the aerospace sector for making informed business and investment-related decisions.
Technavio has also monitored the impact and outcome of the COVID-19 pandemic on the aerospace titanium fasteners market during the forecast period.
According to Technavio, the aerospace titanium fasteners market vendors should focus on growing business opportunities from the commercial aerospace segment as it accounted for the largest market share in the base year.
“The sales of titanium fasteners will be driven positively as re-fleeting programs are initiated by airline operators across the globe,” states a spokesperson for Technavio.
Various other factors — including the development of next-generation engines, a growing demand for titanium fasteners, and an increasing interest in emerging economies — are also expected to influence the aerospace titanium fasteners market positively during the next few years.
Additionally, there has been an increase in the use of composite fasteners during the development of aircraft, which has resulted in significant aerodynamic improvements such as reduced fuel consumption, enhanced range, and increased payload capabilities.
A few related market research trends:
- The commercial segment was the largest revenue-generating platform segment of the aerospace titanium fasteners market in 2020. An increase in orders for commercial and business aviation aircraft and associated huge backlogs in deliveries are expected to propel the demand for fasteners and other aircraft components.
- A total of 36% of the aerospace titanium fasteners market growth will be generated from North America. The presence of leading global airlines, aircraft manufacturers, and aircraft component manufacturers present in the U.S. will lead the region to witness such high growth.
The aerospace titanium fasteners market is concentrated. Several players in the market are striving to provide superior products by differentiating them either based on quality or service.
Vendors are deploying various organic and inorganic growth strategies to survive market competition. This report classifies key market players as dominant, pure-play, and industry-focused players to offer effective investment opportunities and allow clients to take informed decisions.
The key markets include:
- United States
- Canada
- China
- France
To learn more or to download the report, click here.
Filed Under: Fastening + joining