Aircraft Blind Fasteners Market Growth Analysis | 2023-2028

Market Insights

The aircraft blind fasteners market was estimated at USD 354.5 million in 2022 and is likely to grow at a promising CAGR of 8.7% during 2023-2028 to reach USD 628 million in 2028.

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Market Dynamics

Introduction

Blind fasteners are the most talked about subject among the family of fasteners deployed in aircraft manufacturing/assembly. Blind fasteners are preferably used where the design of the structure or assembly sequence does not grant access from both sides. These fasteners have been gaining a fair share in the overall aircraft fasteners market, owing to the changing preferences of OEMs from permanent fasteners to blind fasteners. Blind fasteners are gradually replacing traditional fasteners because of rapid automation, which is of paramount importance as it reduces the lead time of aircraft assembly.

COVID-19 Impact

The COVID-19 pandemic had a significant impact on the aircraft blind fastener market. It caused a sharp decline in air travel, which in turn led to a decline in the demand for new aircraft. This had a knock-on effect on the demand for aircraft blind fasteners, as these are primarily used in the manufacturing of new aircraft. Moreover, supply chain disruptions made it difficult for manufacturers to obtain the raw materials needed to produce blind fasteners. As a result, the market witnessed consecutive declines of double digits in 2020 and 2021. Despite facing setbacks during the pandemic, the market started to recover with a double-digit growth rate in 2022 with the help of the revocation of air travel restrictions.

Market Drivers

The major factors driving the growth of the aircraft blind fasteners market are:

• An increase in air passenger traffic
• Increasing production rates of the key aircraft programs, such as the A320neo, B737 Max, A220, B787, and A350XWB
• Emerging aircraft OEMs, which include COMAC and Irkut
• Rising global aircraft fleet size
• Increasing preference for blind fasteners for assembling critical aerospace parts and superior benefits of blind fasteners, including ease of installation over permanent fasteners.

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

• In December 2021, TriMas Corporation acquired TFI Aerospace, a manufacturer of 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) entered into an agreement 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.

Segment Analysis

By Aircraft Type

Based on the aircraft type, the aircraft blind fasteners 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 of a large number of fasteners owing to its larger and more complex structure. The increasing production rate of key programs such as B737 and A320, the expected entry of new aircraft programs (C919, B777x, and MC-21), and the rising fleet size of commercial aircraft are further expected to drive market growth during the forecast period.

By Product Type

Based on the product type, the market is segmented into blind bolts, blind rivets, and other blind fasteners. Blind rivets are likely to remain the dominant as well as the fastest-growing product type in the market during the forecast period. Key advantages of blind rivets include vibration resistance, fast installation, reliability, and easier inspection and maintenance properties. They are a great alternative to solid rivets in many applications.

By Application Type

Based on the application type, the aircraft blind fasteners market is segmented into the airframe, engine, flight control surfaces, interiors, and others. Airframe is projected to remain the biggest demand generator for blind fasteners in an aircraft during the forecast period. The airframe is the largest structure in the aircraft, where blind fasteners are used in a wide array of applications, including wings and fuselage, leading to their dominance in the market.

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By Material Type

Based on the material type, the aircraft blind fasteners market is segmented into titanium, steel, aluminum, and others. Titanium is likely to remain the dominant and fastest-growing material type in the aircraft blind fasteners market over the next five years. Titanium blind fasteners 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 Insights

In terms of region, Europe is projected to remain the largest market for aircraft blind fasteners during the forecast period, driven by the presence of one of the leading aircraft OEMs, Airbus. The company has committed to raising the production rates of its key aircraft programs, such as the A320, A330, and A350, to meet the huge order backlog, which stood at 7,967 aircraft on 30th June 2023. Moreover, another leading aircraft OEM, Boeing, has already set up its production plant in the region and is investing in its new facilities.

Asia-Pacific is likely to depict the highest growth during the same period owing to the growing demand for blind fasteners fueled by the opening of assembly plants by Boeing and Airbus in China for the B737, A330, and A320. China and India are the growth engines of the Asia-Pacific’s aircraft blind fasteners market. These economies keep on generating high demand for commercial aircraft to support the rising passenger traffic.

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Key Players

The market is moderately concentrated, with the presence of some key regional and global players. The following are the key players in the aircraft blind fasteners market.

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

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

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft blind fasteners 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 blind fasteners market is segmented into the following categories:

By Aircraft Type

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

By Product Type

• Blind Bolts
• Blind Rivets
• Other Blind Fasteners

By Application Type

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

By Material Type

• Titanium
• Steel
• Aluminum
• Other

By End-User Type

• OE
• Aftermarket

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)

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

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.