The Brainy Insights forecasts that the global aerospace fastener market will grow from $6.17 billion in 2021 to $11.31 billion in 2030. For the forecast period 2022-2030, the CAGR is 6.96%.
Increasing aircraft modernization programs in various countries and an increasing number of passengers willing to fly are expected to drive the demand for aerospace fasteners.
In addition, growing import and export business is contributing to more frequent air traffic, and the exploration of 3D and robotics technology is driving the market growth during the forecast period. The increasing demand for aerospace fasteners for defense systems for military helicopters and fighter jets is also expected to boost the growth of the aerospace fastener market.
(Credit: Huida)