Ironic to a layman’s perception, screws are one of the critical components of an aircraft. Screws, on an average, constitute around 5% of the total aircraft parts, which is a big percentage for a single component and indicates their significance.
With the handsome growth in the aircraft industry, the growth of the aircraft screws market is also expected to be impressive. The Stratview Research analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2019-2024. The report details the market in the most intelligent way to bring out the best actionable market intelligence for interested firms.
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Aircraft screws are a very essential part of an aircraft, perfectly exemplified by Boeing’s loss of USD 85 million in 2008, due to the shortage of screws. Boeing had to delay the deliveries of its aircraft along with the cancellation of orders in 2019.
In order to bring forth a clear picture of the market, Stratview Research has dissected the market in the most meaningful way so that all aspects of the market, which are of interest to firms across the value chain, are properly highlighted.
Stratview Research estimates that the market of Aircraft Screws shall grow at a healthy rate of over 5% to reach the market size of over US$ 650 million by 2024.
The aircraft industry is highly regulated and all parts go through rigorous quality checks. The suppliers have to undergo many certifications and must have a great track record. As a result, the screws market is highly consolidated. At the top of the ladder are three firms, Precision Castparts Corp. (PCC) Fasteners, Arconic Fastening Systems and LISI Aerospace, which together command over half of the market in 2018.
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A variety of materials are used in making aircraft screws. Titanium, Stainless Steel, Aluminium and Nickel Alloys are used in making screws. Titanium dominates the market and stainless steel trails far behind.
Stainless steel screws are used in engines, landing gears and heavier structural applications because of their capacity to bear heavy loads and tolerate high temperatures.
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The excellent compatibility of Composite Parts & Titanium Screws:
The rise of Titanium is also on account of its excellent compatibility with composites. The proportion of composites in modern aircraft has already spiked up (over 50% in B787, A350XWB etc.) and the Titanium screws which are their most compatible partner shall grow consequently.
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