Of the six million parts that are used to make a Boeing 747-800, aircraft fasteners contribute to half of that number. Fasteners play a vital role in the overall construction and completion of aircraft. They are used to assemble and hold together various parts of an aircraft in primary structure areas, pressurized/non pressurized applications, and to transfer loads from one part to another. A wide variety of fasteners are used in the build of an aircraft such as nuts, bolts, screws, clamps, rivets, and many more.
Seat installation is the most prevalent application of fasteners used in the build of aircraft interiors. The fasteners used in aircraft interiors are constructed from an array of materials: steel, aluminum, plastics, alloys, composites, and others. Aluminum alloys have been the standard, preferred material for fasteners because of their strength, lightweight construction, and superb heat and corrosion resistance. Plastic and composite fasteners are also on the rise due to bettering technology that has improved their strength and lightweight properties. The development of lightweight fasteners has created strategic partnerships between some manufacturers and aircraft companies, allowing them to gain a competitive edge in the market.
The market for fasteners is growing at an incredible pace and is projected to be worth $2.8 billion by 2023. A ceaseless increase in air passenger traffic globally throughout the world is triggering the rising production rates of aircraft. Accordingly, the need for expansion in fleet size is a key factor contributing to the sustainable growth for the aircraft fasteners market. During the five-year forecast period, commercial aircraft are expected to be the driving force behind this healthy growth. Boeing and Airbus are currently developing and fulfilling orders for commercial aircraft in order to meet the ever-growing demand of air travel.
North America is anticipated to remain the largest market for interior fasteners through 2023. This region is the leading manufacturing hub of the aerospace industry with many high tier fastener manufacturers. China and India are also experiencing substantial growth in the air passenger and freight traffic industry. This is attractive to fastener manufacturers as some corporations are looking to open manufacturing plants in those regions. The two nations have also increased their defense budgets, which will create a steady demand for fasteners in these countries in the coming years.
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