Aircraft Screw Market Size was estimated at 8.38 (USD Billion) in 2022.The Aircraft Screw Market Industry is expected to grow from 8.71(USD Billion) in 2023 to 12.36 (USD Billion) by 2032. The Aircraft Screw Market CAGR (growth rate) is expected to be around 3.96% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Increasing demand for aircraft manufacturing and maintenance is promoting steady growth in the Aircraft Screw Market. Key market drivers include an increase in air travel, commercial and military fleet expansion and the rise of unmanned aerial vehicles (UAVs).
Opportunities also exist in making lightweight and durable screws for next-generation planes as well as the adoption of advanced manufacturing technologies. Furthermore, market growth would be pushed by the demand for corrosion-resistant and high-performance screws.
Other trends include the integration of smart sensors into screws for real-time monitoring and analytics use of composite materials to improve weight reduction. The market is competitive, with a mix of established players and emerging start-ups competing for a wide range of customer segments. Key trends are expected to include the following: automation/robotics, additive manufacturing (AM), and sustainability programs.
The increasing popularity of air travel is a major driver of the growth of the Aircraft Screw Market Industry. As more and more people choose to travel by air, the demand for new aircraft increases, which in turn drives the demand for aircraft screws. Additionally, the growing number of low-cost airlines is making air travel more affordable for a wider range of consumers, further boosting the growth of the market. The growth of the aviation industry is also a major factor driving the demand for aircraft screws.The increasing number of aircraft in operation, as well as the increasing frequency of flights, is leading to a greater need for aircraft maintenance and repair, which in turn drives the demand for aircraft screws. Additionally, the growing number of aircraft manufacturers is also contributing to the growth of the market, as new aircraft designs require new types of screws. The rising demand for air travel is expected to continue in the coming years, which will lead to continued growth in the Aircraft Screw Market Industry.The increasing affordability of air travel, as well as the growing number of aircraft in operation, is expected to drive the demand for aircraft screws, leading to a positive outlook for the market.
The Aircraft Screw Market Industry is also being driven by technological advancements. The development of new materials and manufacturing processes is leading to the production of stronger, lighter, and more durable aircraft screws. Additionally, the development of new aircraft designs is also creating a demand for new types of screws. For example, the growing popularity of composite materials in aircraft construction is leading to a demand for screws that are compatible with these materials.The development of new technologies is also leading to the development of new applications for aircraft screws. For example, the growing use of drones and other unmanned aerial vehicles is creating a demand for screws that are lightweight and can withstand the harsh conditions of these applications.
The growing emphasis on safety in the aviation industry is also leading to an increase in the growth of the Aircraft Screw Market Industry. Aircraft screws are a vital part of all aircraft systems, and their failure can have catastrophic consequences. Therefore, more and more aviation companies are now opting for aircraft screws that are manufactured as per the highest standards of quality and reliability. The growing emphasis on safety also means that many new regulations and standards are being made for aircraft screws.Not only do these regulations and standards ensure that aircraft screws are manufactured according to the highest standards of quality and reliability, but they also ensure that customers are more aware of the importance of these screws.
The Aircraft Screw Market is segmented based on material into Steel, Titanium, Aluminum, and Composite Materials. Among these, the Steel segment held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period. The growth of this segment can be attributed to the high strength, durability, and affordability of steel screws. Steel screws are commonly used in aircraft structural components, such as wings, fuselage, and landing gear, due to their ability to withstand high loads and stresses. The Titanium segment is expected to witness significant growth over the forecast period due to the increasing demand for lightweight and high-performance materials in the aerospace industry.Titanium screws offer a combination of high strength-to-weight ratio, corrosion resistance, and biocompatibility, making them suitable for use in critical aircraft components, such as engines and landing gear. The Aluminum segment is also expected to grow at a steady pace during the forecast period. Aluminum screws are lightweight and corrosion-resistant, making them ideal for use in aircraft interiors and non-structural components. The growing demand for fuel-efficient aircraft is expected to drive the demand for aluminum screws, as they contribute to the overall weight reduction of the aircraft.The Composite Materials segment is expected to gain traction over the forecast period due to the increasing adoption of advanced composite materials in aircraft manufacturing. Composite materials offer a unique combination of high strength, lightweight, and design flexibility, making them suitable for use in various aircraft components, such as wings, fuselage, and tail assemblies. The growing focus on reducing aircraft weight and improving fuel efficiency is expected to drive the demand for composite screws. Overall, the Aircraft Screw Market is expected to witness steady growth over the forecast period, driven by the increasing demand for lightweight, high-performance, and durable materials in the aerospace industry.The market is expected to benefit from the growing production of commercial and military aircraft, as well as the increasing adoption of advanced manufacturing technologies.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Due to its adaptability and strong grip, the hexagonal head screw segment of the Aircraft Screw Market is estimated to dominate, with a revenue of USD 1.93 billion in 2023. Its widespread application in aircraft structural components and engine assemblies drives this segment's success. The Torx head screw segment is projected to grow significantly at a CAGR of 4.2%, owing to its ability to withstand higher torque and reduce cam-out, making it ideal for critical aircraft applications. The Phillips head screw segment, known for its simple design and ease of use, is expected to hold a steady market share, while the slotted head screw segment is likely to experience a gradual decline due to its lower efficiency compared to other head types.These insights highlight the evolving preferences and technological advancements shaping the Aircraft Screw Market landscape, providing valuable guidance for market participants and investors seeking growth opportunities.
The Aircraft Screw Market is segmented by Drive Mechanism into Manual, Electric, and Hydraulic. The Electric segment is projected to grow at the highest CAGR during the forecast period, owing to the increasing demand for electric aircraft screws due to their advantages such as reduced weight, lower noise levels, and improved efficiency. The Hydraulic segment held the largest market share in 2023, accounting for over 50% of the Aircraft Screw Market revenue. The Manual segment is expected to witness a steady growth rate during the forecast period, as it is still widely used in smaller aircraft and for maintenance purposes.
The Diameter segment of the Aircraft Screw Market is expected to witness significant growth over the forecast period, owing to the increasing demand for aircraft and the need for lightweight and durable fasteners. The M2, M3, M4, and M5 diameter screws are widely used in aircraft manufacturing due to their small size and high strength. The M2 and M3 screws are typically used in electronic components and small assemblies, while the M4 and M5 screws are used in larger structural applications. The Aircraft Screw Market segmentation is based on the diameter of the screw, which plays a crucial role in determining its application.The market growth is attributed to the rising production of new aircraft and the increasing need for maintenance and repair services. The Aircraft Screw Market data shows that the M4 diameter segment is expected to hold the largest share of the market, followed by the M3 and M5 segments. The increasing demand for lightweight and fuel-efficient aircraft is driving the growth of the M4 segment.
The application segment of the Aircraft Screw Market offers valuable insights into the diverse usage of aircraft screws across various aircraft components. The fuselage, wings, engines, and landing gear represent the key application areas in this market. Fuselage accounts for the largest revenue share due to the extensive use of screws in assembling and reinforcing the aircraft's main body. Wings, with their complex structure and need for secure fastening, also contribute significantly to market growth. Engines, being critical components requiring high precision and reliability, drive the demand for specialized screws in this segment.Landing gear applications focus on heavy-duty screws capable of withstanding high loads and ensuring safe aircraft operation. Understanding these application-specific requirements enables manufacturers to tailor their products and services to meet the evolving needs of the industry.
The regional segmentation of the Aircraft Screw Market offers insights into the market's geographic distribution and growth potential. North America held a significant share of the market in 2023, owing to the presence of major aircraft manufacturers such as Boeing and Airbus. Europe is another key region, driven by the growing demand for commercial and private aircraft. The Asia-Pacific region is projected to witness substantial growth over the forecast period, with countries like China and India expected to contribute significantly to market expansion.South America and the Middle East and Africa (MEA) regions are also expected to contribute to the overall market growth, albeit at a slower pace.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Major players in Aircraft Screw Market are leveraging strategic collaborations, acquisitions, and partnerships to enhance their market presence and offerings. Leading Aircraft Screw Market players are focusing on expanding their distribution networks across key regions to reach a wider customer base. The Aircraft Screw Market industry is expected to witness significant growth, driven by rising demand from the aerospace and defense sector. Technological advancements, such as the development of lightweight and durable materials, are expected to drive Aircraft Screw Market development further.Stanley Engineered Fastening is one of the leading players in the Aircraft Screw Market, offering a wide range of solutions for the aerospace and defense industries. The company has a global presence with state-of-the-art manufacturing facilities and distribution centers. Stanley Engineered Fastening is continuously investing in research and development to enhance its product offerings and meet the evolving needs of customers. The company's commitment to quality and customer service has earned it a strong reputation in the industry.Another prominent player in the Aircraft Screw Market is Micro-Fasteners UK Limited. The company is known for its high-quality products and exceptional customer service. Micro-Fasteners UK Limited has a strong focus on providing customized solutions to meet the specific requirements of its customers. The company's products are manufactured using advanced technology and undergo rigorous testing to ensure reliability and performance. Micro-Fasteners UK Limited is committed to sustainability and actively works to reduce its environmental impact throughout its operations.
The Aircraft Screw Market is projected to grow from USD 8.71 billion in 2023 to USD 12.36 billion by 2032, at a CAGR of 3.96% during the forecast period. The increasing number of aircraft deliveries and the growing demand for lightweight and efficient fasteners are driving the growth of the market.Recent news developments in the market include: In March 2023, Airbus announced a partnership with Collins Aerospace to develop and produce a new line of high-performance aircraft screws. In April 2023, Boeing launched a new line of titanium aircraft screws, which are lighter and more durable than traditional steel screws.These developments indicate that the aircraft screw market is poised for continued growth in the coming years.
| Report Attribute/Metric | Details |
| Market Size 2022 | 8.38(USD Billion) |
| Market Size 2023 | 8.71(USD Billion) |
| Market Size 2032 | 12.36(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 3.96% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2022 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | United Technologies Corporation, L3 Technologies, Dassault Aviation, Safran S.A., Triumph Group, Honeywell Aerospace, Lockheed Martin Corporation, Aviall, Anixter International, TR Fastenings, ITT Inc., Helicopters Maintenance Limited, Boeing Company |
| Segments Covered | Material, Head Type, Drive Mechanism, Diameter, Application, Regional |
| Key Market Opportunities | Growing demand for commercial and military aircraft Increasing aircraft maintenance and repair activities Technological advancements in screw design and materials Expansion of the aerospace industry in emerging markets |
| Key Market Dynamics | Growing demand for fuel-efficient aircraft Increasing use of composite materials Rising adoption of unmanned aerial vehicles Technological advancements in screw manufacturing Expansion of the aerospace industry in emerging markets |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Aircraft Screw Market is expected to reach a valuation of 8.71 billion USD in 2023.
The Aircraft Screw Market is expected to reach a valuation of 12.36 billion USD in 2032, exhibiting a CAGR of 3.96% from 2024 to 2032.
The growth of the Aircraft Screw Market is primarily attributed to the increasing demand for aircraft, rising air passenger traffic, and growing investments in the aerospace industry.
North America is expected to hold the largest market share in the Aircraft Screw Market due to the presence of major aircraft manufacturers and a large commercial aviation sector.
Aircraft screws are primarily used in the assembly and maintenance of aircraft, including applications such as engine mounting, wing attachment, and fuselage construction.
Key competitors in the Aircraft Screw Market include Alcoa Fastening Systems, Arconic, Precision Castparts Corp., and SPS Technologies.
The Aircraft Screw Market faces challenges such as stringent regulatory requirements, the need for high-quality and precision manufacturing, and fluctuations in raw material prices.
Emerging trends in the Aircraft Screw Market include the adoption of lightweight materials, the use of automation and robotics in manufacturing, and the development of innovative screw designs.
The COVID-19 pandemic had a negative impact on the Aircraft Screw Market due to the decline in air travel and disruptions in the supply chain. However, the market is expected to recover as the aviation industry rebounds.
Growth opportunities for the Aircraft Screw Market include the increasing demand for fuel-efficient aircraft, the expansion of the commercial aviation sector in emerging economies, and the development of new aircraft designs.
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
