Market Analysis Of Aerospace Fasteners, Worth Collecting!
Dec 15, 2022
01
Introduction to Aerospace Fasteners
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Fasteners refer to the general term for a class of mechanical parts used to fasten two or more parts (or components) into a whole. It is widely used in various industries such as electronics, electrical appliances, machinery, chemicals, molds, etc., and is called "industrial rice".
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Specific fastener products mainly include bolts, studs, screws, nuts, self-tapping screws, wood screws, retaining rings, washers, pins, rivets, assemblies and joints, welding studs, etc. twelve categories.
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Aerospace fasteners are mainly divided into rivets, bolts (screws), nuts, single-sided fasteners, special fasteners, and other types. Widely used in aircraft, ballistic missiles, rockets, and other aircraft, it is an important market segment for fasteners.
The important role of aerospace fasteners
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The total weight of fasteners used in a modern aircraft can account for 5%-6% of the total weight of the aircraft, and the number of various fasteners on a medium-sized aircraft can reach 2-3 million. Moreover, these screws and nuts must withstand extreme temperature differences, high cycle loads, and repeated vibration and pressure. The materials used include high-strength steel, alloy steel, titanium, and superalloys.
Materials for Aerospace Fasteners
◉Titanium alloy has the advantages of good corrosion resistance, non-magnetism, and high specific strength, and is currently the commonly used raw material for aerospace fasteners. The practice has proved that aerospace fasteners made of titanium alloy materials can greatly reduce the weight of aircraft, and can also meet the requirements of the aviation industry for raw materials such as high-temperature resistance, elasticity, and non-magnetic properties.
◉Commonly used titanium alloy materials include: Ti-45Nb alloy, TB2 titanium alloy, TB5 titanium alloy used in rivet fasteners, TC4 titanium alloy, TC6 titanium alloy, TB3 titanium alloy used in bolt fasteners, etc. In addition, nickel-based alloys, silicon-copper alloys, stainless steel, etc. are also commonly used aviation fastener materials. In the selection of fastener materials, the most suitable material can be selected according to the actual situation.
Common aerospace fastener application scenarios and available materials
|
Application Scenario |
Applicable Fastener Materials |
| Consider only the strength of the connection | Steel |
| Corrosive application environment | Coating treatment on the surface of steel |
| Extremely corrosive environments | Stainless steel or non-ferrous metal alloy |
| Involving magnetic permeability issues | Austenitic Stainless Steel / Aluminum / Copper |
| Consider the issue of resistance insulation | Non-metal material |
| Reduce weight | Aluminum Alloys |
| Not only to reduce weight but also to achieve high mechanical strength | Titanium Alloys |
02
Analysis of the Aerospace Fastener Industry
Vol.1/ Market Overview
◉At present, the global demand for aviation fasteners is mainly concentrated in the three major markets of North America, Europe, and Asia. The United States and Europe will remain the two major markets for the aerospace industry in the future, and the United States is the largest distribution center and user country for aerospace fasteners.
◉Propelled by the strong development of the Asian market, the Asia-Pacific region has maintained a relatively high growth rate in recent years. The development of the Asia-Pacific region and the rise of the Chinese market will promote China to take advantage of its low-cost and raw materials to become the largest net exporter of high-end industrial fasteners.
Vol.2/ Market Size
◉2011-2020 China's metal fastener output CAGR reached 2.42%. From 2012 to 2020, China's fastener industry revenue increased from 111.5 billion yuan to 121.2 billion yuan, an increase of 8.68%, and the compound annual growth rate was 1.05%. Therefore, China has become the world's largest producer of fasteners.
◉From the perspective of downstream demand industries for fastener products, fasteners are currently mainly used in the automotive industry, maintenance and construction industry, electronics industry, construction machinery, etc. The amount of fasteners used in the aerospace field is small, but the added value of the product is high, which is a more important segmented application field.
◉ From the perspective of international market sales, the market size of aerospace fasteners in 2016 was US$5.49 billion, and it is expected to rise to US$7.37 billion by 2021, with a compound growth rate of 6.07%. In the domestic market, the rising demand for commercial aircraft is the main reason for the growth of my country's aerospace fastener market.
Distribution of Downstream Demand Industries for China's Fastener Products
◉In recent years, the number of civil aviation passenger aircraft in China has increased, driving the increase in maintenance demand, and the domestic aerospace fastener market is also growing steadily.
According to the data of the 59th issue of "Fastener Quarterly", from 2012 to 2018, China's aerospace fastener production increased from 9,500 tons to 15,800 tons, with a compound annual growth rate of 8.85%; the demand increased from 9,700 tons to 15,500 tons, with a compound annual growth rate of 8.13%. From 2012 to 2018, the scale of China's aerospace fastener industry increased from 11.92 billion yuan to 21.050 billion yuan, with a compound annual growth rate of 9.94%.
◉In terms of production and sales, with the vigorous development of the national defense industry and the civil aviation industry, the number and output of military aircraft and civil airliners continue to increase, aerospace engineering continues to advance, and the demand for equipment updates increases, thus maintaining the growth in demand for aerospace fasteners. Since 2014, the production and sales of aerospace fasteners in China have maintained continuous growth. In 2020, the domestic output of aerospace fasteners will be about 1,375 tons, a year-on-year increase of 4.8%; sales volume will be 3,003 tons, a year-on-year increase of 4.5%.
According to the new machine market and maintenance market estimates, the annualized demand data of China's aerospace fastener increment and stock market are summarized as follows:
| Product | Incremental market (100 million yuan) | Inventory market (100 million yuan) |
| Military Aerospace Fasteners | 74-198 | 24-158 |
| Civil Aerospace Fasteners | 300 | 32-64 |
| Total | 374-498 | 56-222 |
Vol.3/ Competitive landscape
◉Due to the stringent requirements for fastener materials, manufacturing processes, tolerances, etc. of aerospace vehicles, and the wide variety of products, the order volume of complete machine manufacturers is relatively large, and the requirements for product types of enterprises are large, the aerospace fastener industry has significant scale barriers, qualification barriers, and technical barriers. At present, domestic high-end aerospace fasteners still mainly rely on imports. From 2012 to 2018, the import scale of domestic aerospace fasteners accounted for more than 50%. The price difference between imported products and domestic products is significant, which has also led to the fact that imported products have always occupied a large share of the domestic aerospace fastener industry.
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AYA has been deeply involved in the Fastener industry with a single-minded and dedicated attitude, devoted itself to providing our customers with more industry-specific, professional, standardized, and precise Fastener solutions. If you want more information, please contact AYA FASTENERS for the details.
