Technological advancements in the aerospace industry resulted in the production of newer and more durable aerospace fasteners. Moreover, the rising adoption of lightweight titanium fasteners in the aerospace industry provides various opportunities for aerospace titanium fasteners market players. For instance, in 2020, TriMas Aerospace was awarded multi-year contracts with Airbus and signed new supply contracts with Airbus, which is increasing the company’s engineered fastener sales in the region. Further, the market players are manufacturing robust titanium fasteners for various applications, such as the airframe, landing gear, engine components, and interiors. Thus, the growing demand for aerospace titanium fasteners is promoting the aerospace titanium fasteners market growth. With the growing emphasis on lightweight aircraft models using composite materials and carbon fiber braking systems, the demand for titanium fasteners will increase over the years. This trend is anticipated to boost the revenues across titanium fastener suppliers, which is fueling the aerospace titanium fasteners market growth.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe aerospace titanium fasteners market at a notable CAGR during the forecast period.
Europe Aerospace Titanium Fasteners Market Segmentation
The Europe aerospace titanium fasteners market is segmented based aircraft type, product type, application, end user, and country. Based on aircraft type, the market is segmented into narrow body aircraft, wide-body aircraft, general aviation aircraft, cargo aircraft, helicopters, and military aircraft. The narrow body aircraft segment dominated the market in 2020 and wide body aircraft segment is expected to be fastest growing during forecast period. Based on product type, the market is segmented into bolts, nuts, screws, rivets, and others. The bolts segment dominated the market in 2020 and others segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into flight control surface, airframe, engine, interiors, and landing gear. The airframe segment dominated the market in 2020 and engine segment is expected to be fastest growing during forecast period. Based on end user, the market is segmented into aircraft manufacturers, MRO services providers, and military forces. The aircraft manufacturers segment dominated the market in 2020 and MRO service providers segment is expected to be fastest growing during forecast period. Based on country, the Europe aerospace titanium fasteners market is segmented into the France, Germany, Italy, UK, Russia, and the Rest of Europe.
Cherry Aerospace (PCC); Leeart Industry Co., Ltd.; LISI Aerospace; Superbti Co., Ltd.; TriMas Corporation; and XOT Metals are among the leading companies in the Europe aerospace titanium fasteners market.