Aircraft Plastic Fasteners Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027

Market Highlights

Aircraft plastic fastener is a type of temporary joining tool which is used to integrate various aircraft parts. About a million fastener is used in a large aircraft for different applications such as wings, engines, interiors, avionics, and assemblies. Plastic fasteners, now-a-days, qualify several standards to fulfil an aircraft's requirements with additional features such as lightweight, greater tensile strength, corrosion & high-temperature resistance, rigidity, and excellent shear & fatigue strength.

The aircraft plastic fasteners market is quite aligned with the organic growth of the aircraft industry. Due to the sudden outbreak of the pandemic, there was an enormous decline in the aircraft industry across regions. The grave impact of this was registered across the supply chain including all the level of components. Aircraft plastic fasteners, a relatively small but unique market, also could not escape from such trends and witnessed a colossal decline (-41%+ in 2020) amid the pandemic, quite paralleling with the decline in the aircraft industry. The industry was expecting to commence its recovery in 2021, however, due to temporary suspension of B787 deliveries and the postponement of refurbishment orders by several airlines led the industry to suffer a drastic decline again in 2021. The expected recovery in air passenger travel coupled with huge order backlogs of aircraft OEMs and retrofitting plans of older aircraft is likely to boost the demand for plastic fasteners from 2022 onwards. Overall, the aircraft plastic fasteners market is likely to rebound at a promising CAGR of 14.4% in the long run to reach US$ 150 Million in 2027.

Based on the aircraft type, the aircraft plastic fasteners market is segmented into commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. With the highest share of plastic fasteners, commercial aircraft is expected to remain the largest as well as the fastest-growing aircraft type in the market during the forecast period. An expected recovery in air travel is pushing airframers to increase the production rate of key programs by both aircraft giants: Boeing and Airbus. As per the latest Airbus commercial aircraft outlook for 2022-2041, in the next twenty years, 39,490 commercial aircraft are likely to be delivered out of which 80% would be narrow-body aircraft only.

Based on the material type, the market is segmented into composites, high-performance thermoplastics, nylon, and others. Nylon is expected to remain the dominant material type whereas composites are expected to be the fastest-growing material type in the market during the same period. Nylon exhibits several features such as high-tensile strength, electrical insulation, and corrosion resistance, and are strong, lightweight, and versatile. Nylon fasteners are offered by several major players such as Step'n Components, HellermannTyton, and Amphenol with different grades as it is the most suited material for fasteners.

Based on the product type, the market is segmented into plastic clamps, panel fasteners, bonded fasteners, and others. Panel fasteners are expected to maintain their dominance, whereas bonded fasteners are expected to be the fastest-growing product type in the market during the forecast period. Panel fasteners are majorly used in honeycomb sandwich structures which are installed for larger areas, such as floor, walls, and ceiling panels. Bonded fasteners are generally bonded with high-performance adhesives (like epoxy) to eliminate the need to mechanically drill the holes for their insertion and provide clean fittings.

In terms of regions, North America is expected to remain the largest market for aircraft plastic fasteners during the forecast period. The region has the presence of a large number of major OEMs, such as Airbus, Boeing, Bombardier, and Lockheed Martin, as well as tier players, and raw material suppliers; making the region the growth engine of the aircraft industry. The majority of aircraft plastic fastener manufacturers are having presence in the region to meet OEMs' urgent needs and serve as a partner and establish new contracts for early Covid-19 recovery.

Asia-Pacific is likely to grow at the fastest pace in the market over the next five years, driven by an expected rebound in aircraft deliveries to meet the rising air passenger travel, especially in emerging economies: China and India; healthy growth of low-cost carriers by private airlines for the affordable journey, upcoming aircraft program, C919 and expected to return of B737max in China.

Key Players

The aircraft plastic fasteners market is moderately consolidated with the presence of several small and big players across the globe. Most of the major players compete in some of the governing factors including price, product offerings, material used, applications and regional presence. These players either have pre-defined contracts with top tie-players such as Spirit AeroSystems, and Triumph Group and OEMs such as Airbus, Boeing, and Lockheed Martin and have a large number of authorised distributors for the sale of plastic fasteners for wider geographical reach. The following are the key players in the aircraft plastic fasteners market. Most of the major players are providing maximum fastener products with different plastic grades.

• Amphenol Air LB
• Boellhoff Group
• Click Bond Inc
• Howmet Aerospace Inc
• Lisi Aerospace
• Marketing Masters, Inc
• Nyltite™ Corporation of America
• Sky Climber Fasteners, LLC
• Step'n Components, LLC
• Victrex Plc

Research Methodology

This strategic assessment report, from the publisher, provides a comprehensive analysis that reflects today's aircraft plastic fasteners market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with the publisher's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players and those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

The aircraft plastic fasteners market is segmented into the following categories.

Aircraft Plastic Fasteners Market, by Aircraft Type

• Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Helicopters (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aircraft Plastic Fasteners Market, by Material Type

• Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• High-Performance Thermoplastics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Nylon (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aircraft Plastic Fasteners Market, by Product Type

• Plastic Clamps (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Panel Fasteners (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Bonded Fasteners (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aircraft Plastic Fasteners Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)