Market Insights
The aircraft nuts market is likely to rebound at a promising CAGR of 7.1% in the long run to reach US$ 1 Billion in 2028.
Nuts are threaded fasteners that are always used in conjunction with a mating bolt or screw to connect aircraft structures. They are available in a variety of materials, shapes, and sizes. Self-locking and non-self-locking nuts are two types of nuts used in aircraft. They require high tensile and shear strength and are made from high-performance materials such as stainless steel, alloy steel, aluminum, titanium, and other alloys. The use of lightweight materials for new-generation aircraft is among the key trends in the market.
The COVID-19 pandemic posed a huge challenge for the aircraft industry as it caused a reduction in air travel, the grounding of aircraft, a halt in manufacturing plants, and supply chain disruptions. These factors compelled aircraft manufacturers to either halt or reduce the production of aircraft during the pandemic period. As there was low production of aircraft and fewer MRO activities by airlines, the demand for nuts plunged during the period. This caused the aircraft nuts market to suffer consecutive declines of over 20% and 15% in 2020 and 2021.
However, the market witnessed a healthy recovery from the pandemic, with double-digit growth in 2022. The incessant increase in air passenger traffic triggered by the revocation of the air travel ban is the major factor that contributed to the recovery of the market. An increase in the production rates of the key programs, such as the A320neo, B737 Max, A220, B787, and A350XWB; the market entry of new players, such as COMAC and Irkut; and an increasing aircraft fleet size would take off the demand for nuts in the aircraft industry.
Recent Market JVs and Acquisitions:
In recent years, several acquisitions have been performed by the companies in the market to expand their product portfolio, regional presence, and leadership in the aircraft nuts market.
- In June 2022, Böllhoff Group acquired Gillis Aerospace, a French manufacturer of aerospace fasteners, to expand its position in the aerospace industry.
- In June 2021, Böllhoff Group acquired the company SNEP SA, a France-based aerospace fastener manufacturer, to strengthen its position in technical fasteners for the aerospace industry.
- In December 2021, TriMas Corporation acquired TFI Aerospace, a manufacturer of nuts and other fasteners used in a variety of applications for aerospace and other industrial end markets. This acquisition helped expand TriMas Aerospace’s fastener product lines with the addition of complementary niche products.
- In January 2020, Consolidated Aerospace Manufacturing, LLC (CAM) was acquired by Stanley Black & Decker, Inc. This acquisition helped Stanley Black & Decker, Inc. expand its position in the aerospace & defense industry.
Segment Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Aircraft-Type Analysis
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Commercial Aircraft, Regional Aircraft, Helicopters, Military Aircraft, and General Aviation
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Commercial aircraft is anticipated to remain the biggest demand generator for nuts in the years to come.
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Material-Type Analysis
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Titanium, Aluminum, Steel, and Others
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Steel is anticipated to remain the most preferred material, whereas titanium remains the fastest-growing material during the forecast period.
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Application-Type Analysis
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Airframe, Engine, Flight Control Surfaces, Interior, and Others
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Airframe is anticipated to remain the dominant as well as the fastest-growing application during the forecast period.
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End-User-Type Analysis
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OE and Aftermarket
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OE is expected to remain the dominant as well as the faster-growing end-user type in the years to come.
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Nut-Type Analysis
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Wrenchable Nut, Barrel Nut, Nut Plate, and Others
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Wrenchable nuts are likely to remain the dominant as well as the fastest-growing nut type in the years to come.
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Locking-Type Analysis
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Self-Locking Nut and Non-Self-Locking Nut
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Self-locking nuts are likely to remain the larger and faster-growing locking type over the next five years.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.
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Aircraft Type
The aircraft nuts market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. Commercial aircraft is expected to remain dominant as well as the fastest-growing aircraft type in the market during the forecast period. Among all the types of aircraft, commercial aircraft require a large number of fasteners owing to their larger and more complex structure than other types of aircraft. Also, the increasing production rates of key aircraft programs, the entry of new programs (C919, B777x, and MC-21), and the rising fleet size of aircraft are expected to further drive market growth during the forecast period.
Material Type
Aircraft nuts are manufactured using a variety of materials, which mainly include titanium, aluminum, steel, and others. Among all the materials, steel is expected to remain the preferred choice for manufacturing aircraft nuts in the market as it offers high strength, durability, and resistance to wear and fatigue. It is also relatively inexpensive, which makes it a cost-effective option. Titanium is gaining traction in the market due to its high strength-to-weight ratio and corrosion-resistant properties.
Application Type
The market is segmented into the airframe, engine, flight control surfaces, interior, and others. Airframe is expected to remain the biggest demand generator for nuts in the market during the forecast period. The airframe is the largest structure in the aircraft, and it is made up of a variety of components that are held together with bolts and nuts.
End-User Type
The market is segmented into OE and aftermarket. OE sales is likely to remain the larger as well as the faster-growing segment of the market during the forecast period. A large number of nuts are required during the production of aircraft. Increasing production of aircraft would contribute to the growth of the market during the forecasted period.
Nut Type
There are different types of nuts used in the aircraft. These nut types include wrenchable nuts, nut plates, barrel nut, and others. Wrenchable nuts, which include hex nuts, double hex nuts, and spline drive nuts, are expected to remain the dominant as well as the fastest-growing nut type in the market during the forecast period.
Locking Type
The market is segmented into self-locking nuts and non-self-locking nuts. Self-locking nuts are expected to remain the dominant as well as the faster-growing nut type in the market during the forecast period. Aircraft manufacturers prefer self-locking nut as it locks in place and does not get loosed from the vibrations produced in the aircraft.
Regional Analysis
North America is expected to remain the largest market for aircraft nuts during the forecast period. The region is dominated by the USA, due to the presence of significant aircraft OEMs, nut suppliers, airlines, and MRO businesses. During the forecast period, Asia-Pacific is anticipated to grow at the fastest rate, with China, Japan, and India serving as the region's main growth engines.
Aircraft manufacturers and tier players are being compelled to establish their manufacturing facilities in the region due to a growing demand for aircraft from airlines in the region due to a significant rise in aviation passenger and freight traffic in China and India. To address the enormous domestic demand and reduce the level of dependence on Boeing and Airbus, major companies in the Asia-Pacific region are working extremely hard to create commercial and regional aircraft. COMAC C919 is one example of such efforts, which have already been successful in piling up excellent unfulfilled orders.
The aircraft nuts market is segmented into the following categories:
By Aircraft Type
- Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Material Type
- Titanium (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aluminum (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Steel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Application Type
- Airframe (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Flight Control Surfaces (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Interiors (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Nut Type
- Wrenchable Nut (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Barrel Nut (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Nut Plate (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Locking Type
- Self-Locking Nut (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Non-Self-Locking Nut (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By End-User Type
- OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of the Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of the Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Key Players
The market is moderately concentrated, with the presence of some regional and global players. Development of lightweight and durable nuts, forming strategic alliances with aircraft OEMs, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market. The following are the key players in the aircraft nuts market:
- Howmet Aerospace
- Precision Castparts Co.
- Lisi Aerospace
- Stanley Black and Decker, Inc.
- National Aerospace Fasteners Corporation
- Böllhoff Group
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft nuts market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for existing and new players
- Key success factors
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