Aerospace Washers Market Scope
Washer is basically a small circular thin plate, with a hole between the plate for the screw to pass through it. It is used in tightening as it distributes the load of a threaded fastener as well as protect the surface from getting damaged because of fastener. Other uses of washers is to act as a spacer and a locking mechanism holding fastener at its place. Aerospace Washers are specifically designed for aviation needs and is of higher quality than normal washers used in manufacturing or automotive industry. A normal Boeing 787 aircraft has around 2.4 million fastners and almost equal number of washers. The market of aerospace washers is directly dependent on the growth of the aerospace market. The recent pandemic has acted as huge setback to aerospace industry which transcends to aerospace washers industry. Geographically, North America is the biggest market of aerospace washers because of huge civilian as well as defence aerospace industry in the region.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Aero Holding GmbH (Germany), B & B Specialities Inc. (United States), KLX Inc. (United States), TFI Aerospace Corporation (Canada), Wesco Aircraft Holdings Inc. (United States), TPS Aviation Inc. (United States), Allfast Inc. (United States), Cherry Aerospace (United States), Precision Castparts Coporation (United States) and 3V Fasteners Company Inc. (United States) |
CAGR | % |
Aerospace Washers market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Aerospace Washers market throughout the predicted period.
Aero Holding GmbH (Germany), B & B Specialities Inc. (United States), KLX Inc. (United States), TFI Aerospace Corporation (Canada), Wesco Aircraft Holdings Inc. (United States), TPS Aviation Inc. (United States), Allfast Inc. (United States), Cherry Aerospace (United States), Precision Castparts Coporation (United States) and 3V Fasteners Company Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Monogram Aerospace Fasteners (United States), Alco Fastening Systems (United States) and Stanley Engineered Fastening (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Aerospace Washers market by Type , by Application (Helicopter, UAV, Fighter Jets and Aircraft) and Region with country level break-up.
On the basis of geography, the market of Aerospace Washers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In 2019, Quantum Capital Partners, a Germany based Investment Fund announced acquisition of Indraero Siren SAS and Lisi Aerospace Creuzet Maroc SA through its subsidiary Aero Holding GmbH. Both the acquird companies are major manufacturers of aerospace components such as aluminum tubing, complex structural components, tail cones, thrust reversers and other similar parts. Along with the major components the companies also manufacture the minor parts such as fastners, riveters, washers, etc. QCP expects huge potential growth from both the companies because of the potential demand from end use aviation companies such as Airbus, Embraer, Safran, Sabca and others.
In 2020, Trimas Corporation, a diverse manufacturer of aerospace and industrial components and consumer primary products has announced completion of acquisition of RSA Engineered Products which manufactures complex critical components for air management systems. The acquisition was aimed at improving the business standing of Trimas in Aerospace business both in defence and civilian segment. The acquisition primarily expands Trimas portfolio in broader aviation offerings.
Influencing Trend:
Alloys are Mostly Preferred Nowadays in Aviation Industry because of their Lightweight and High Strength
Market Growth Drivers:
Growth in Aerospace Industry and Increased Activities in After Market Industry
Challenges:
Manufacturing Washers with Advanced Alloys or Materials to Provide Greater Strengths and Reducing the Costs of Production
Restraints:
Global Pandemic has Negatively Affected the Aviation Industry which has transcended to Aerospace Washers Manufacturers
Opportunities:
China and India are emerging as New Potential Aerospace Manufacturers
Key Target Audience
Aerospace Washers Manufacturers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, End-Use Industries and Others