Detroit, Aug. 17, 2018 (GLOBE NEWSWIRE) -- Stratview Research announces the launch of a new market research report on Aircraft Titanium Fasteners Market by Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Body Aircraft, Regional Aircraft, General Aviation, and Military Aircraft), by Product Type (Screws, Bolts, Nuts, Rivets, and Others), by Application Type (Airframe, Flight Control Surfaces, Interior, Engine, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023
The Global Aircraft Titanium Fasteners Market: Highlights
Titanium fasteners offer significant weight reduction over traditional steel and aluminum fasteners, driving the industry’s switch towards them despite their high cost. As per Stratview Research, the global aircraft titanium fasteners market is likely to witness an impressive CAGR of 6.4% CAGR during the forecast period . Increasing commercial and regional aircraft deliveries, increasing share of wide-body aircraft in commercial aircraft deliveries, increasing aircraft fleet size, advancement in the fastening technologies, compatibility with carbon composites, and rising demand for lightweight and high-corrosion-resistant fasteners are the key factors proliferating the demand for titanium fasteners in the aircraft industry.
Narrow-body aircraft is projected to remain the largest aircraft type segment of the market during the forecast period , propelled by best-selling A320 family and B737 aircraft programs including their fuel-efficient variants. However, wide-body aircraft is expected to grow at the highest CAGR in the forecast period.
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In terms of region, North America is expected to remain the largest market for aircraft titanium fasteners during the forecast period . Whereas, Asia-Pacific is likely to depict the highest growth in the same period with China, Japan, and India being the key sources of growth.
Key aircraft titanium fasteners manufacturers are Arconic Fastening Systems, Cherry Aerospace (a subsidiary of Precision Castparts Corp.), Lisi Aerospace, Stanley Black & Decker Inc., Trimas Corporation, National Aircraft Fasteners Corp., B&B Specialties, Inc., Penn Engineering, and TFI Aircraft Corp.
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