According to our latest study on "Aerospace Stainless Steel and Superalloy Fasteners Market Size and Forecast (2021-2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Material Type, Application, Aircraft Type, Product Type and Geography," the Aerospace Stainless Steel and Superalloy Fasteners Market size was valued at US$ 753.90 million in 2023 and is expected to reach US$ 1,334.44 million by 2031. The Aerospace Stainless Steel and Superalloy Fasteners Market is estimated to record a CAGR of 7.4% from 2023 to 2031.

Surge in Global Aircraft Fleet Size to Provide Lucrative Opportunities for Aerospace Stainless Steel and Superalloy Fasteners Market Growth During Forecast Period

The report includes growth prospects owing to the current Aerospace Stainless Steel and Superalloy Fasteners Market trends and their foreseeable impact during the forecast period. As per Insight Partners analysis and various aerospace industry resources in 2024, the total number of existing commercial aircraft was more than ~28,395 across the globe, including over 17,260 narrow body aircraft; approximately 5,755 widebody aircraft; ~3,040 regional jets; and ~2,334 Turboprop. Furthermore, by 2034, the total number of commercial aircraft is anticipated to be approximately more than 36,400 worldwide, including over 22,974 narrow body aircraft; ~7,400 widebody aircraft; approximately 3,465 regional jets; and ~2,565 Turboprop. China and India are projected to show more than 3.5% growth in air travel from 2023 to 2042. In addition, according to the ch-aviation data on aircraft fleet orders from across the world, as of June 2023, the US accounted for the highest number of aircraft orders (excluding military aircraft and aircraft with unknown operator/engine) worldwide with a total of 3,147 aircraft on order-followed by Ireland, China, and India with 1,247; 1,239; and 888 aircraft orders, respectively. According to the same data, the top five consumers with aircraft orders are United Airlines, IndiGo Airlines, Lion Air, Air Lease Corporation, and AirAsia, among which two are based in Asia Pacific. Further, according to the various aerospace industry sources analysis, the total commercial aircraft fleet size in Asia Pacific stood at 8,653 in 2024, which is likely to reach approximately 11,582 aircraft by the end of 2034. Engine and airframe maintenance and repair appear to be the most prominent in 2024. Thus, the growing global aircraft fleet size is expected to generate new opportunities for aircraft component suppliers, including stainless steel and superalloy fasteners manufacturers, and anticipated to fuel the Aerospace Stainless Steel and Superalloy Fasteners Market growth in coming years.

Aerospace Stainless Steel and Superalloy Fasteners Market Report: Key Findings

The Aerospace Stainless Steel and Superalloy Fasteners Market analysis is based on segmental assessment. Based on material type, the aerospace stainless steel and superalloys fasteners market is divided into stainless steel and superalloy. The superalloy is further segmented into A286, Inconel 718, Waspaloy, and others. Based on application, the aerospace stainless steel and superalloys fasteners market is segmented into airframe, engine, interiors, and others. Based on aircraft type, the aerospace stainless steel and superalloys fasteners market is segmented into fixed wing aircraft and rotary wing aircraft. Based on product type, the market is segmented into screws, rivets, nut/bolts, and others. In terms of geography, the market is categorized into North America, Europe, Asia Pacific (APAC).

The airframe segment held the largest share in the aerospace stainless steel and superalloy fasteners market share in 2023. The airframe primarily implies the mechanical structure of an aircraft. The structure mostly includes several basic components, such as the undercarriage, the fuselage, the empennage, and the wings. The design and structure of fasteners in aircraft are crucial factors for aerodynamic requirements. Fastener design can be altered from countersunk to protruding, liable to the exclusive requirements of the airframe. Additionally, many aerospace fasteners incorporate self-locking mechanisms to inhibit loosening owing to vibrations, which is a usual concern in the aerospace industry. Fasteners play a significant role in confirming the structural reliability and security of the aircraft. Fasteners are fabricated to withstand various environmental conditions, making the components necessary for the operation and longevity of the aircraft.

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