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Global Market for Aerospace Fasteners to Reach US$6.8 Billion by 2018, According to New Report by Global Industry Analysts, Inc.
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2012-07-23
GIA announces the release of a comprehensive global report on Aerospace Fasteners market. Sales in the global market for Aerospace Fasteners is projected to reach US$6.8 billion by the year 2018, encouraged by increased shipments of Aerospace Equipment and the growing trend towards large sized Aircrafts. Revival in the growth of Air Travel, and the resultant increase in Aircraft Maintenance is expected to make the aftermarket segment one of the strongest demand generators for Aerospace Fasteners over the next few years.
The economic recession within the aerospace industry prolonged for three full years and weighed down significantly on several manufacturing industries, triggering a period of serious downslide in air travel and aircraft delivery volumes. Major airline companies including Boeing and Airbus recorded a sharp decline in aircraft manufacturing and resultantly a decline in demand for aerospace grade fasteners. Even as the industry staged a gradual recovery, the Euro sovereign crisis upset the already fragile stabilization process, particularly in several key European countries. Dwindling passenger volumes, higher fuel prices, carbon taxes, user fee and stringent regulations continue to be some of the other issues of immediate concern within the aerospace industry. However, after a depressed North American market in 2010, the fastener OEM sales witnessed a slow turnaround in 2011, although the growth remained largely below average.
The economic recession within the aerospace industry prolonged for three full years and weighed down significantly on several manufacturing industries, triggering a period of serious downslide in air travel and aircraft delivery volumes. Major airline companies including Boeing and Airbus recorded a sharp decline in aircraft manufacturing and resultantly a decline in demand for aerospace grade fasteners. Even as the industry staged a gradual recovery, the Euro sovereign crisis upset the already fragile stabilization process, particularly in several key European countries. Dwindling passenger volumes, higher fuel prices, carbon taxes, user fee and stringent regulations continue to be some of the other issues of immediate concern within the aerospace industry. However, after a depressed North American market in 2010, the fastener OEM sales witnessed a slow turnaround in 2011, although the growth remained largely below average.
