The aerospace fasteners market is projected to grow from $ 5.49 billion in 2016 to $ 7.73 billion by 2021, at a CAGR of 7.08% during the forecast period 2016 to 2021. The market has been segmented on aircraft type, end user type, material type, product type, and application. On the basis of product type, the market is divided into rivets, screws, nuts & bolts, and others. Based on end user, the market is segmented into commercial aviation and defense. With respect to aircraft type, the market is segmented into narrow body aircraft, wide body aircraft, very large aircraft, regional transport aircraft, business jets, and fighter jets. Based on application, the market is segmented into cabin interiors, fuselage, and control surfaces.
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LISI Group is one of the leading players in the aerospace fasteners market. It operates through three business segments: automotive (LISI Automotive), medical (LISI Medical), and aerospace (LISI Aerospace). The company’s aerospace segment is engaged in manufacturing of fasteners which include blind fasteners, externally and internally threaded, sleeved pin, lockbolt, safety locking and tooling. The company has been engaged in various advanced programs, such as the new GE and LEAP engines, or even the structure of the A350 and A320 Neo aircraft, which is expected to gain value in the market. The company’s technological breakthrough is made possible by
Wide body aircraft segment is expected to witness the highest growth in aerospace fasteners market during the forecast period. According to Boeing, the demand for high-speed aircraft is estimated to be high.
New product development is one of the key strategies implemented by the major players to expand their product portfolio with advanced products.
The aerospace fasteners market is expected to witness the highest growth in the Asia-Pacific region during the forecast period. The aerospace fasteners market is on a rise in this region due to aircraft manufacturers in China and Russia. So the rise in component manufacturers in Japan, India and China contribute as major factors for growth in the aerospace fasteners market. Considering the emerging economies, increasing demand for aircraft in the Asia-Pacific region, it is projected to be the fastest growing market during the forecast period.
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