Market Insights
It is estimated that the market for aircraft bolts is likely to grow at a significant CAGR of 7.5% to reach US$ 541.9 million during the forecast period.
Aircraft bolts are specialized mechanical fasteners used in the aerospace industry for joining and securing various components of an aircraft. They play a crucial role in maintaining the structural integrity, safety, and reliability of the aircraft during operation. These bolts are designed to meet stringent requirements, ensuring they can withstand the extreme forces, stresses, and environmental conditions experienced during flight. They are manufactured from high-quality materials, such as stainless steel, steel alloys, aluminum, titanium, and other alloys, which offer excellent strength, corrosion resistance, and lightweight properties. Bolts currently account for approximately a fair share of the total aircraft fasteners market and are one of the fastest-growing fasteners in the industry.
In 2020, the pandemic impacted the aircraft bolts market, causing a decline in double digits. The market further declined in 2021 and started recovering from 2022 onwards due to an increase in air travel post-pandemic and a recovery in the economy.
The key factors impacting the growth of the market are the organic growth of the aircraft industry coupled with the development of lightweight and corrosion-resistant bolts, rising aircraft fleet size, an increase in the production rates of the key aircraft programs, including the A320neo, B737 Max, A220, B787, and A350XWB, and the market entry of new players, such as COMAC and Irkut.
Recent Market JVs and Acquisitions:
In recent years, several acquisitions have been performed by companies in the market to expand their product portfolio, regional presence, and leadership in the aircraft bolts market.
- In December 2021, TriMas Corporation acquired TFI Aerospace, a manufacturer of bolts and other fasteners used in a variety of applications for aerospace and other industrial markets. This acquisition helped to expand TriMas Aerospace’s fastener product lines with the addition of complementary niche products.
- In January 2020, Consolidated Aerospace Manufacturing, LLC (CAM) agreed to be acquired by Stanley Black & Decker, Inc. This acquisition helps to further diversify the growth of Stanley Black & Decker, Inc.’s industrial business segment.
Segments' 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 aircraft bolts in the years to come.
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Application- Type Analysis
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Airframe, Flight Control Surfaces, Interior, Engine, and Others
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Airframe is anticipated to remain dominant in the market. Fuselage and wings cover a large surface area and have thousands of bolts deployed in them.
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Material- Type Analysis
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Titanium, Steel, and Others
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Titanium is anticipated to remain the dominant material in the years to come, propelled by the increasing usage of titanium in the manufacturing of bolts by replacing steel.
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End-User- Type Analysis
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OE and Aftermarket
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OE is to remain the dominant and faster growing end-user during the forecast period.
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Bolt Type Analysis
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General Bolt and Blind Bolt
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General bolt to remain the dominant bolt during the forecast period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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North America is expected to remain the dominant market over the next five years, whereas Asia-Pacific is likely to be the fastest-growing market in the forecast period.
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Aircraft Type
The aircraft bolts market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. Commercial aircraft is expected to remain the largest and fastest-growing aircraft type in the market during the forecast period. Both Boeing and Airbus are raising the production rates of their respective best-selling commercial aircraft programs. Further, there is also an increase in the production rate of key aircraft programs B787 and A350XWB, the expected entry of new aircraft programs (C919, B777x, and MC-21), and the rising fleet size of commercial aircraft, which is further expected to spur the growth of the segment.
Application Type
The market is segmented into airframe, flight control surfaces, interior, engine, and others. Airframe is expected to remain the dominant application type in the market during the forecast period. Airframe is the largest structure, and it is made up of a variety of components that are held together with bolts and nuts. Airframe requires frequent inspection and repair, which often involves the replacement of bolts. This ongoing need for maintenance and repair will further contribute to the demand for bolts in the airframe segment.
Material Type
The market is segmented into titanium, steel, and others. Titanium is expected to remain the dominant material type in the market during the forecast period due to its lightweight, high strength-to-weight ratio, and corrosion-resistant properties. This is crucial for aircraft, as reducing weight can improve fuel efficiency and increase payload capacity. Titanium bolts provide reliable and long-lasting fastening solutions, which are further expected to drive market growth during the forecast period.
Bolt Type
The market is segmented into general bolt and blind bolt. General bolt is expected to remain the dominant bolt type in the market during the forecast period. General bolts are versatile fasteners that can be used in a wide range of applications within an aircraft. Their generic design and usability make them suitable for various components and panels. However, blind bolts are likely to experience the fastest growth during the forecast period owing to an increase in the preference for blind bolts over traditional bolts.
Regional Analysis
North America is expected to remain the largest market for aircraft bolts during the forecast period. The region is the manufacturing capital of the aircraft industry, with the presence of several large- to small-sized aircraft OEMs, tier players, bolt manufacturers, and distributors. The USA is the key source of growth.
Asia-Pacific is likely to exhibit the highest growth during the same period. China and India are the growth engines of Asia-Pacific’s aircraft bolts market. These economies keep on generating high demand for commercial aircraft to support the rising passenger traffic.
The aircraft bolts 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 Bolt Type
- General Bolts (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Blind Bolts (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Application Type
- Airframe (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)
- Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Material Type
- Titanium (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 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, The Rest of the Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of the Asia-Pacific)
- Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)
Key Players
The market is moderately concentrated, with the presence of some local, regional, and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the aircraft bolts market.
- Howmet Aerospace
- Precision Castparts Corp.
- TriMas Corporation
- LISI Aerospace
- National Aerospace Fasteners Corporation
- Stanley Black and Decker, Inc.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft bolts 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 market dynamics and will enable strategic decision-making for 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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Company Profiling
- Detailed profiling of additional market players (up to three players)
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Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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