The Aircraft Screws Market report published by Stratview Research offers wide-ranging analysis of key growth strategies, drivers, opportunities, key segments, and competitive landscape, etc. This detailed study is a useful source of information for prominent market players, new entrants, investors, and stakeholders to gain a thorough understanding of the market and determine measures to be taken to gain a competitive advantage.
Market Insights
The aircraft screws market is projected to grow at a healthy CAGR of 4.9% over the next five years to reach US$ 649 million in 2024.
Increasing production rates of the key aircraft programs, such as B737, B787, A320, and A350XWB; introduction of variants of the best-selling aircraft programs (A320 neo, B737 Max, B777x, and A330 neo); market entry of new aircraft (C919 and MC-21), rising global aircraft fleet size, and increasing demand for lightweight and corrosion-resistant screws are the major growth drivers of the global aircraft screws market.
Over the past five years, the market for aircraft screws has been recording various strategic initiatives, which are changing market dynamics and competitive landscapes. For instance; in 2016, Precision Cast Parts Corp. (PCC), the leading supplier of aircraft fasteners including screws, was acquired by Berkshire Hathaway Inc., a leading American Holding company, for a deal value of US$ 37.2 billion.
Some key takeaways from this report –
The report offers key drivers that trigger the growth in the Aircraft Screws Market. The insights mentioned in this report helps market players in formulating strategies to gain market presence or to sustain during the hard times. The research also mentions restraints of the market. Critical data on growth opportunities, current and upcoming trends are mentioned to assist market players in taking further steps by determining the potential in untapped regions.
The research offers segment wise analysis of the Aircraft Screws Market. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables, graphs, pie charts and more.
The aircraft screws market is segmented based on the aircraft type as Commercial Aircraft, Military Aircraft, Regional Aircraft, General Aviation, and Helicopter. Commercial Aircraft is likely to remain the growth engine of the market during the forecast period. Both, Boeing and Airbus, are raising the production rates of their respective best-selling commercial aircraft programs B737 and A320. Further, there is also an increase in the production rate of next-generation aircraft programs B787 and A350XWB, which is also likely to spur the growth of the segment.
Based on the material type, the market is segmented into titanium screws, stainless steel screws, and other screws. Titanium is likely to remain the most dominant material type in the market over the next five years, propelled by increasing usage of titanium in the manufacturing of screws by replacing steel and aluminum screws. Titanium offers a significant weight-saving advantage along with excellent corrosion resistance as compared to other competing materials.
Based on the application type, the airframe is projected to remain the largest application segment of the market during the forecast. The fuselage and wings cover a large surface area and have thousands of screws deployed in them, which makes the airframe the most dominant segment. The Interior is projected to grow at the highest rate during the forecast period, driven by growing replacement or refurbishment of cabin interiors.
Based on the end-user type, OE sales are likely to remain the larger segment of the market during the forecast period. There are more than 100 aircraft OEMs worldwide, the majority of those have assembly plants located in North America and Europe. This makes these two regions the most dominant OE markets for aircraft screws. The aftermarket segment is likely to witness higher growth in the market during the forecast period.
Based on the regions, North America is expected to remain the largest market for aircraft screws during the forecast period as the region is the manufacturing capital of the aircraft industry with the presence of several large- to small-sized aircraft OEMs, tier players, screw manufacturers, and distributors. The USA is not only the largest market for aircraft screws in North America but also in the world. Boeing, Lockheed Martin, Bell Helicopter, Gulfstream Aerospace Corporation, and The Cessna Aircraft Company are some of the major OEMs in the USA, which generate a healthy demand for screws in the country. Asia-Pacific is likely to depict the highest growth during the same period. China and India are the growth engines of the Asia-Pacific’s aircraft screws market. These economies keep on generating a high demand for commercial aircraft to support the rising passenger traffic.
Key Players
The following are the key players in the Aircraft Screws Market-
- Acument Global Technologies, Inc.
- Arconic Inc.
- B & B Specialties, Inc.
- Consolidated Aerospace Manufacturing LLC
- Lisi Aerospace
- Precision Castparts Corp. (PCC)
- TriMas Corporation.
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