Market Insights
The market for aircraft rivets is likely to grow at a healthy 8.3% CAGR over the next five years to reach an estimated value of US$ 388.9 Million in 2028.
Aircraft rivets are specialized mechanical fasteners used in the aerospace industry to join and secure various components of an aircraft. They are an essential part of the aircraft's construction, ensuring the structural integrity and safety of the aircraft during operation. Rivets are cylindrical metal pins with a head on one end and a tail on the other. During the installation process, the rivet is inserted into pre-drilled holes in the substrate to be joined. The tail end of the rivet is then deformed or bucket to create a second head, forming a permanent bond between the joined materials.
The COVID-19 pandemic has had a significant impact on the aircraft rivets market. The aircraft rivets market witnessed double-digit decline in 2020. The market further declined in 2021 and registered a steep recovery in 2022.
Key factors accelerating the growth of the aircraft rivets market are rising aircraft deliveries fueled by increasing passenger traffic, the introduction of variants of existing programs, increasing the production rate of key aircraft programs, such as the A320neo, B737 Max, A220, B787, and A350XWB; and expanding fleet size, the development of lightweight and corrosion-resistant rivets, and changing OEMs preferences from permanent fasteners to blind fasteners.
Recent Market JVs and Acquisitions:
The aircraft fastener business is gradually consolidating with major players are acquiring small- to mid-sized companies.
- For instance, in December 2021, TriMas Corporation acquired TFI Aerospace, a manufacturer and supplier of specialty fasteners used in a variety of applications. This acquisition will further expand TriMas Aerospace’s fastener product lines by adding complementary niche products with an exciting growth trajectory resulting from TFI’s new program wins and overall market recovery.
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 likely to remain the dominant as well as fastest-growing platform type in the market by 2028.
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Application-Type Analysis
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Airframe, Flight Control Surfaces, Interiors, Engine, and Others
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Airframe is estimated to remain the dominant as well as fastest-growing application type during the forecast period.
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Material-Type Analysis
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Titanium, Aluminum, Steel, and Others
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Titanium is anticipated to remain the dominant material in the years to come, propelled by its weight-saving advantage along with excellent corrosion-resistant properties.
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End-User- Type Analysis
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OE and Aftermarket
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OE is likely to remain the dominant and faster-growing end-user type.
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Product-Type Analysis
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Blind Rivets and Solid Rivets
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Blind rivets are likely to remain the dominant and faster-growing rivet type by 2028.
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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 estimated to dominate the market in the foreseeable future, whereas Asia-Pacific is likely to grow at the fastest rate.
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Aircraft Type
The aircraft rivets 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. The requirement of a large number of rivets owing to their larger structure than other aircraft types, 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 key growth factors fueling the market growth.
Product Type
The market is segmented into blind rivets and solid rivets. Blind rivets are expected to remain the dominant as well as the faster-growing rivet in the market during the forecast period. Key advantages of blind rivets include vibration resistance, fast installation, reliability, and easier inspection and maintenance. Also, their ability to be installed from one side only makes them more accessible and easier to install in tight spaces. They are a great alternative to solid rivets in many applications.
Application Type
The market is segmented into airframe, flight control surfaces, interiors, engine, and others. Airframe is expected to remain the dominant application type in the market during the forecast period. The airframe is the largest structure in the aircraft, where rivets are used in a wide array, including wings and fuselage, leading to its dominance in the market.
Material Type
The market is segmented into titanium, aluminum, steel, and others. Titanium is expected to remain the dominant material type in the market during the forecast period. Titanium rivets offer a host of advantages over competing fasteners, including good compatibility with composite parts, good corrosion resistance, excellent mechanical properties, heat resistance, and a high strength-to-weight ratio, leading to their widespread usage in aircraft.
Regional Analysis
North America is expected to remain the largest market for aircraft rivets 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, rivet manufacturers, and distributors. Asia-Pacific is likely to depict the highest growth during the same period owing to the increasing aircraft fleet to support rising passenger traffic, the opening of assembly plants by Boeing and Airbus for multiple aircraft programs, and the upcoming indigenous aircraft, the C919. China and India are the growth engines of the region.
The aircraft rivets 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 Product Type
- Solid Rivets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Blind Rivets (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)
- Others (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 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 Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Key Players
The market is moderately consolidated with the presence of some 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 rivets market:
- Precision Castparts Corp Co., Ltd.
- Howmet Aerospace
- TriMas Corporation
- LISI Aerospace
- Stanley Black & Decker, Inc.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft rivets 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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