Aircraft Blind Bolts Market | Global Forecasts 2019-24
This comprehensive 275-page report, from Stratview Research, studies the global aircraft blind bolts, which is a sub-set of blind fasteners market. The report scrupulously studies the past five-year trend, evolving technologies, changing competitive landscapes, and future market possibilities in order to forecast the market for the period of 2019 to 2024 with high veracity. The key purpose of the study is to draw industry stakeholders’ attention towards the changing aerospace fasteners market dynamics in order to prepare themselves for future as well as to assist them in formulating strategies to expediate their growth process.
The Global Aircraft Blind Bolts Market: Highlights
Blind bolts currently account for less than 5% of the total aircraft fasteners market. However, the bolt type is expected to be one of the fastest-growing fastener types in the aircraft industry in the coming five years to reach an estimated value of US$ 238.7 million in 2024. The market for aircraft blind bolts is gradually consolidating as the major companies are performing mergers & acquisitions to quickly gain the leading position in the market. For instance; TriMas Corporation, a leading global manufacturer of highly engineered aircraft products, acquired the Allfast Fastening Systems at a total purchase price of approximately US$ 360 million. After the acquisition of Allfast Fastening Systems; TriMas Corporation has become a leader in the aircraft blind bolts market.
Blind bolts are multi-piece assemblies, capable of being installed from one side of the workpiece. They are typically used in those aircraft structures that require high strength and can be accessed from one side only. Blind bolts are used in the multiple areas of an aircraft such as wings, nacelles, and interiors. Blind bolts provide exceptional strength, vibration resistance, and excellent sheet pull together characteristics. The most commonly used materials for making blind bolts in the aircraft industry are titanium, aluminum, and steel. As the penetration of composites is growing in the aircraft industry, the usage of titanium in the manufacturing of fasteners including blind bolts is also growing. Titanium offers weight-savings advantage along with better corrosion resistance as compared to other metal and metal alloys.
Several factors burgeoning the growth of the market are organic growth of the aircraft industry coupled with an increase in the production rates of the key aircraft programs including B737, B787, A320, and A350XWB, increase in the preference of blind fasteners over traditional fasteners, development of lightweight and corrosion-resistant blind bolts, and rising global aircraft fleet size.
Among all the factors, increasing production rates of key commercial aircraft programs are primarily driving the demand for aircraft blind bolts. Both major commercial aircraft OEMs, Airbus and Boeing, are incessantly increasing the production of their best-selling aircraft in order to meet huge order backlogs of 13,048 commercial aircraft as of 31st December 2018. Irkut and COMAC, the newcomers in the commercial aerospace industry, also hold excellent order backlogs for their upcoming commercial aircraft programs, which is likely to further substantiate the demand for blind bolts in the coming years.
The aircraft blind bolts market is segmented based on the aircraft type as commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. Commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period. Increasing demand for blind fasteners over traditional fasteners; increasing production rates of key programs, such as B737, A320 family, B787, and A350XWB; market entry of new players, such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs, such as B737 max, A320neo, and B777X; and rising commercial aircraft fleet size across regions are the key factors propelling the demand for blind bolts in the commercial aircraft segment.
Based on the application type, the aircraft blind bolts market is segmented as airframe, control surfaces, interior, engine, and others. The airframe application is expected to remain the most dominant segment of the market during the forecast period. The airframe is the largest structure in the aircraft where blind bolts are used in a wide array of applications including wings and fuselage, leading to its dominance in the market.
Based on the material type, the aircraft blind bolts market is segmented as titanium blind bolts, aluminum blind bolts, steel blind bolts, and other blind bolts. Titanium blind bolts are expected to remain the largest segment of the market during the forecast period and are also expected to witness the highest growth during the same period. There has been an incessant replacement of steel and other heavy metal-based blind bolts with titanium blind bolts, owing to their excellent performance at a relatively low weight.
In terms of regions, North America is expected to remain the largest market for aircraft blind bolts during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, blind bolt suppliers, and end users. All the major blind bolt manufacturers have their presence in the region to address the emergent needs of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Asia-Pacific is expected to experience the highest growth in the market during the forecast period. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; increasing procurement of military aircraft owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ).
The supply chain of this market comprises raw material suppliers, blind bolt manufacturers, distributors, tier players, aircraft OEMs, airline companies, aircraft leasing companies, and MRO companies. The key players in the aircraft blind bolts market are TriMas Corporation, Arconic Inc., PCC Fasteners, LISI Aerospace, Stanley Black and Decker, Inc., and Kwikbolt Limited. Development of lightweight and durable aircraft blind bolts and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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:
The global aircraft blind bolts market is segmented into the following categories.
Aircraft Blind Bolts Market, by Aircraft Type
Aircraft Blind Bolts Market, by Application Type
Aircraft Blind Bolts Market, by Material Type
Aircraft Blind Bolts Market, by Blind Bolt Type
Aircraft Blind Bolts Market, by End-User Type
Aircraft Blind Bolts Market, by Region
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