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(Transportation-News.com, February 13, 2019 )
The Aircraft Specialty Fasteners Market: Highlights
Fasteners play a vital role in the aircraft industry and are amongst the most essential hardware components. They are situated across the aircraft and are used not only to join different parts of aircraft together, such as aircraft structure to skin, but are also used to install and affix components, such as seats, stowage bins, and panels to the aircraft body. In terms of numbers, they dominate the aircraft components market. For an instance; An A380 aircraft program is made of six million components, out of which more than three million are fasteners.
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In the aerospace industry, specialty fasteners refer to a specific family of fasteners, whose usage is to address distinct industry requirements. Specialty fasteners address challenging requirements, such as high speed/automated assembly, sandwich panel installation, thin sheet assembly, mounting to surfaces that cannot accept through holes, blind assembly, frequent joint access, and optimization of preload in highly loaded joints. Specialty fasteners often save time in the assembly process and eliminate the need for additional fastening components, which, result in, an overall reduced cost.
The aircraft specialty fasteners market is likely to witness a healthy growth over the next five years to reach an estimated value of US$ 1.3 billion in 2024. The major factors underpinning the growth of aircraft specialty fasteners is an incessant increase in air passenger traffic all around the world, which is triggering an incessant increase in the production rates of the key programs, such as B737, A320 family, B787, and A350XWB; market entry of new players, such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs, such as B737 max, A320neo, and B777x; and increasing aircraft fleet size.
Commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period. Both major commercial aircraft OEMs: Boeing and Airbus, are increasing the production rates of their best-selling aircraft in order to meet a huge pile of order backlogs. Also, COMAC and Irkut are entering the commercial aircraft industry with their C919 and MC-21 aircraft programs. Boeing anticipated that there would be total deliveries of 42,730 commercial aircraft worth US$ 6.3 trillion in the global marketplace during 2018-2037. All these factors are likely to create sustainable demand for specialty fasteners for the commercial aircraft segment in the foreseeable future.
Stratview Research
Ritesh Gandecha
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Source: EmailWire.Com 
Source: EmailWire.com
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