“The aircraft installation tools market size was estimated to be US$ 0.4 billion in 2023 and is likely to grow at a modest CAGR of 1.8% in the long run to reach US$ 0.6 billion in 2032.”
Market Dynamics
Introduction
Installation tools are vital in the aviation industry's safe and efficient aircraft assembly. This market mainly incorporates specialized fasteners and fluid-fittings installation tools. Apart from assembly, these tools also play a critical role in MRO activities, which helps extend the aircraft's overall lifespan. The commercial aviation industry is expanding significantly, particularly in emerging economies, driving the demand for installation tools. Research & development in this market is leading the industry towards predictive maintenance and the use of IoT and robotics, which will enhance efficiency and reduce costs. The market presents an optimistic scenario for players involved in manufacturing as well as service & repair of the tools.
Recent Market JVs and Acquisitions:
The aircraft installation tools market has not experienced many mergers & acquisitions in recent years. However, some of the M&A and JVs are:
- Howmet Aerospace, formerly part of Arconic, was separated in 2020. Since then, it has been working as an independent entity focusing on engineered products. Howmet has become a major force in the market, with a significant share.
- In 2019, Stanley purchased Consolidated Aerospace Manufacturing (CAM Aerospace), expanding its fasteners and aerospace components division and diversifying its tools and industrial equipment portfolio.
Market Drivers:
The ever-increasing aviation fleet drives the overall aircraft installation tooling market, and increased demand for air travel leads to increased aircraft production and boosts demand for tools. As the number of aircraft in operation increases, the need for maintenance and repair activities rises proportionally. Tooling becomes essential for routine inspections, repairs, and overhauls to ensure the aircraft's safety, reliability, and compliance with regulatory standards. The expanding global aviation fleet catalyzes the sustained demand for various installation tools. Technological advancements have made aircraft systems more sophisticated and intricate, and hence, the tools used to install these systems must be produced in compliance with modern systems. Diagnostics, precision measurement, and inspection tools have become increasingly important.
Challenges:
Due to strict compliance regarding aircraft safety and reliability, the aircraft installation tools market faces tough challenges in fulfilling stringent regulatory requirements from agencies such as the FAA, IATA, and EASA. Cost pressures and budget constraints also challenge the tooling market, forcing manufacturers to balance competitive pricing with high-quality advanced products amid intense competition among airlines and MRO providers.
Market Segments' Analysis
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Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Aircraft-Type Analysis
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Commercial Aircraft, Regional Aircraft, Helicopter, Military Aircraft, and General Aviation.
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Commercial aircraft is dominant and the most rapidly expanding market.
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Sales Channel-Type Analysis
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Direct Sales and Indirect Sales.
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Indirect sales are more significant than direct sales and are likely to remain so in the forecast period.
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End-User Analysis
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OEMs, Tier Players, and Aftermarket.
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In the end-user category, the aftermarket is dominant and is growing at a modest pace.
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Tools-Type Analysis
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Fastener Tools and Fluid Fittings Tools
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Fastener tools have a larger share of tool types.
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Region Analysis
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North America, Europe, Asia-Pacific, and ROW
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Asia-Pacific is growing fastest, and North America has the largest share of the installation tools market.
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By Aircraft Type
“Commercial aircraft is forecasted to emerge as the foremost and most tool-consuming category in the market during the forecast period.”
- The commercial aviation industry is rebounding globally. The rise in civil aviation and air cargo transportation is significantly boosting the demand for commercial aircraft. As the fleet size rises, the need for installation tools will become more pronounced.
- The rising demand for fasteners and fluid fittings in the aircraft industry will fuel the demand for installation tools.
- Commercial airlines operate under strict safety and regulatory standards, requiring frequent and comprehensive MRO cycles. Airframes have a planned calendar for MRO, generating consistent demand for avionics requirements tools.
By Sales-Channel Type
“Indirect sales constitute the bigger chunk of the pie due to abundant distributors offering a diverse range of tools from multiple manufacturers.”
- The tooling business differs from the fastener business, with a significant dominance of indirect sales, mainly due to the low ticket/order size paired with many MRO providers.
- Since the start of this decade, distributors and tool manufacturers have strategically collaborated with airlines and military aviation organizations to make the supply chain more resilient.
- Distributors offer a wide range of variations and custom kitting solutions. They also provide after-sales and repair services.
End-user Analysis
“Aftermarket sales have dominated in the past few years and will likely maintain dominance by 2032. OEMs strategically collaborate with the tool manufacturers to ensure a smooth and consistent supply.”
- Both civil and military aviation fleets are enormous and have a significant demand for service and repair. This marks the growth of aftermarket sales of these tools.
- The massive increase in the operating fleets, mainly low-cost carriers, particularly in emerging economies, has also supported the growth of aftermarket services.
- Sustained improvements in sustainability have seen original equipment manufacturers fit new engines and parts with higher fuel efficiency on aged aircraft, increasing aftermarket tool requests.
Tools analysis
“Fastener installation tools have massive dominance in the aircraft installation tools market due to their extensive use in the airframe, engine, and other components of an aircraft.”
- Aircraft assembly involves thousands of couplings and joints needed to ensure the safe and reliable operation of the aircraft. Over 6 million parts are required in order to assemble each B747, half of which are fasteners.
- Due to such widespread use, fasteners create a significant demand for tools. Rivet guns, blind fastener tools, and power drilling tools are in demand for assembly and MRO purposes.
- Fluid fitting tools are also growing steadily. Waterwaste and fuel systems are common application areas in aircraft. Apart from these, aircraft's hydraulic and pneumatic components also generate demand for installation tools.
Region analysis
“North America dominated the market, capturing ~40% share. The Asia-Pacific region is set to register the fastest growth in the forecasted period.”
- Demand has risen significantly due to the extensive purchases of tools for military aircraft by DLA and other government-run bodies in the USA. Private players' presence in the USA's aircraft MRO market has expanded this region’s share.
- Europe is currently in second place, owing to the presence of several aircraft manufacturers. These companies follow stringent safety regulations and provide regular service and repair, driving demand for installation tools.
- Asia-Pacific aviation industry is expected to grow at a CAGR of more than 5% during the forecasted period. South Asian nations are increasing their military aircraft fleet, and regional and business jets are growing fast, driving demand for installation tools.
Key Players
It would be fair to say that the market is fragmented, with many regional players contributing significantly to it. The leading players in the industry contend with several critical factors, including pricing strategies, service portfolios, regional presence, and other governing parameters. The following are the key players in the aircraft installation tools market. These big players often engage in mergers and acquisitions as a critical strategy to enhance their portfolios and regional presence.
Here is the list of the Top Players (Based on Dominance)
- Howmet Aerospace
- Precision Castparts Co.
- Stanley Black & Decker
- TriMas Aerospace
- TransDigm Aerospace
- Eaton Aerospace Inc.
- Parker Aerospace
- Swagelok Company
- Snap-On Industrial
- Apex Tools
- Chicago Pneumatic
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
Report Features
This report provides market intelligence most comprehensively. 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, Service 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 the existing and new players.
- Key success factors.
The global aircraft installation tools market is segmented into the following categories:
Aircraft Installation Tools Market, 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)
- Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Installation Tools Market, by Sales-Channel Type
- Direct Sales (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Indirect Sales (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Installation Tools Market, by End-User Type
- OEMs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Tier Players (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Installation Tools Market, by Tools Type
- Fastener Installation Tools (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Rivet Tools
- Torque Wrenches
- Electric/Pneumatic Screwdrivers
- Drilling Tools
- Blind Fasteners Tools
- Others
- Fluid Fittings Tools (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Kits (Swaging, Crimping, Flaring)
- Pumps
- Standalone Tools
- Others
Aircraft Installation Tools Market 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)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s aircraft installation tools market realities and future market possibilities for the forecast period.
- The report segments and analyses 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.
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- Detailed profiling of additional market players (up to three players)
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- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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