Feb 12, 2021/IndustryNewsGlobal/ -- This new report from Stratview Research analyses the Aerospace Screws Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Aerospace Screws Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Aerospace Screws Market is no different. Derived from the previous market scenario, the Aerospace Screws Market is projected to grow at a healthy rate over the next five years to reach US$ 649 million in 2024 but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
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Aircraft Screws Market Share Analysis
Aircraft Screws Market Share by Aircraft Type
The global aircraft screws market is segmented based on the aircraft type as Commercial Aircraft, Military Aircraft, Regional Aircraft, General Aviation, and Helicopter. Commercial Aircraft is likely to remain the growth engine of the market during the forecast period. Both, Boeing and Airbus, are raising the production rates of their respective best-selling commercial aircraft programs of B737 and A320. Further, there is also an increase in the production rate of next-generation aircraft program B787 and A350XWB, which is also likely to spur the growth of the segment.
Aircraft Screws Market Share by Material Type
Based on the material type, the aircraft screws market is segmented into titanium screws, stainless steel screws, and other screws. Titanium is likely to remain the most dominant material type in the aircraft screws market over the next five years, propelled by increasing usage of titanium in the manufacturing of screws by replacing steel and aluminum screws. Titanium offers significant weight-saving advantage along with excellent corrosion resistance as compared to other competing materials.
Aircraft Screws Market Share by Application Type
Based on the application type, the airframe is projected to remain the largest application segment of the aircraft screws market during the forecast. Fuselage and wings cover a large surface area and have thousands of screws deployed in them, which make airframe the most dominant segment. Interior is projected to grow with the highest rate during the forecast period, driven by growing replacement or refurbishment of cabin interiors.
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Aircraft Screws Market Share by End-User Type
Based on the end-user type, OE sales is likely to remain the larger segment of the market during the forecast period. There are more than 100 aircraft OEMs worldwide, the majority of those have assembly plants located in North America and Europe. This makes these two regions as the most dominant OE markets for aircraft screws. The aftermarket segment is likely to witness the higher growth in the market during the forecast period.
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. China and India are the growth engines of the Asia-Pacific’s aircraft screws market. These economies keep on generating a high demand for commercial aircraft to support the rising passenger traffic.
The supply chain of this market comprises raw material suppliers, aircraft screw manufacturers, distributors, tier players, aircraft OEMs, airlines, aircraft leasing companies, and MRO companies. Some of the key aircraft screws manufacturing companies are Acument Global Technologies, Inc., Arconic Inc., B & B Specialties, Inc., Consolidated Aerospace Manufacturing LLC, Lisi Aerospace, Precision Castparts Corp. (PCC), and TriMas Corporation.
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