Aircraft Screws Market Analysis | 2023-2028

Market Insights

The aircraft screws market was estimated at USD 357 million in 2022 and is likely to grow at a CAGR of 6.6% during 2023-2028 to reach USD 552.2 million in 2028.

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Market Dynamics

Introduction

A screw is an essential member of the fastener family that helps to hold two or more parts together to form part of a larger structure in the aircraft. Due to its versatility, it is the most common threaded fastener used in aircraft manufacturing. Screws used in the aircraft industry are of very high quality as compared to those used in general industries. They come in different types, materials, sizes, and head shapes depending on the purpose and strength required. Screws currently account for a sizeable share of the total aircraft fasteners market but are one of the fastest-growing fastener types in the industry.

COVID-19 Impact

The COVID-19 pandemic had a negative impact on the aircraft screws market, as it did on the whole aviation industry. Low demand for new aircraft and the cancellation of aircraft orders by airlines due to reduced air travel compelled the aircraft manufacturers to cut down their production output. Due to the low demand for screws, the market witnessed consecutive declines of over 20% and 15% in 2020 and 2021, respectively. However, post-pandemic, the revocation of the air travel restrictions helped the market recover with a double-digit growth rate in 2022.

Market Drivers

The major factors driving the growth of the aircraft screws market are:

• Placement of a large number of aircraft orders fueled by an incessant increase in air passenger traffic.
• Increasing production rates of the key aircraft programs, such as the A320neo, B737 Max, A220, B787, and A350XWB.
• Rising global aircraft fleet size.
• Increasing demand for lightweight and corrosion-resistant screws.

Recent Market JVs and Acquisitions: In recent years, several acquisitions have been performed by the companies in the market to expand product portfolio, regional presence, and their leadership in the aircraft screws market.

• In December 2021, TriMas Corporation acquired TFI Aerospace, a manufacturer of screws and other fasteners used in a variety of applications for aerospace and other industrial 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.
• In 2020, Avantus Aerospace strategically expanded its product offering and market presence through the acquisitions of California Screw Products and Fastener Innovation Technology, Inc. These additions came after their acquisition of Fastener Technology Corp. in 2019 to enhance their position in the industry.

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Key Players

The market is moderately concentrated, with the presence of some key regional and global players. Development of lightweight and durable screws, 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 screws market.

• Precision Castparts Corp.
• LISI Aerospace
• Howmet Aerospace
• Stanley Black and Decker, Inc.
• TriMas Corporation

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Aircraft Type

Based on the aircraft type, the aircraft screws 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. The dominance of the segment is led by the requirement for the most fasteners in the aircraft type, owing to its larger and more complex structure than other types of aircraft. The increasing production rate of key aircraft programs such as the B737 and A320, the entry of new aircraft manufacturers in the market, which includes COMAC and Irkut, and the rising fleet size of aircraft are expected to drive market growth during the forecast period.

By Material Type

Based on the material type, the aircraft screws market is segmented into titanium, steel, and other materials. Titanium is likely to remain the dominant as well as the fastest-growing material type in the aircraft screws market over the next five years, propelled by the increasing usage of titanium in the manufacturing of screws by replacing traditional steel and aluminum screws. Titanium offers a significant weight-saving advantage along with excellent corrosion resistance as compared to other competing materials.

By Application Type

Based on the application type, the aircraft screws market is segmented into airframe, engine, flight control surfaces, interiors, and others. Airframe is projected to remain the biggest demand generator for screws in an aircraft during the forecast period. The fuselage and wings cover a large surface area and have thousands of screws deployed in them, which makes the airframe the most dominant segment.

By End-User Type

Based on the end-user type, the market is bifurcated into OE and aftermarket sales. OE sales is likely to remain the larger as well as faster-growing segment of the market during the forecast period. A large number of screws are required during the production of aircraft. Increasing aircraft production would contribute to the growth of the market during the forecast period.

Regional Insights

Based on the regions, North America is expected to remain the largest market for aircraft screws 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, screw manufacturers, and distributors. The USA is not only the largest market for aircraft screws in North America but also in the world. Boeing, Lockheed Martin, Bell Helicopter, Gulfstream Aerospace Corporation, and The Cessna Aircraft Company are some of the major OEMs in the USA, which generate a healthy demand for screws in the country.

Asia-Pacific is likely to depict the highest growth during the same period owing to the growing demand for screws fueled by the establishment of new manufacturing sites of aircraft OEM and tier players in the region. China and India are the growth engines of the Asia-Pacific’s aircraft screws market. These economies keep on generating high demand for commercial aircraft to support the rising passenger traffic.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects aircraft screws 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

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The aircraft screws market is segmented into the following categories:

By Aircraft Type

• Commercial Aircraft
• Regional Aircraft
• Helicopter
• Military Aircraft
• General Aviation

By Material Type

• Titanium
• Steel
• Other

By End-User Type

• OE
• Aftermarket

By Application Type

• Airframe
• Engine
• Flight Control Surfaces
• Interiors
• Others

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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