Aerospace Fastener Market At CAGR 7% Through 2020 – Global Fastener News – USA
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Aerospace Fastener Market At CAGR 7% Through 2020
The global aerospace fasteners market will steadily increase through 2020, posting a CAGR of more than 7%, according to a report by Technavios market research analysts.
“The growing demand for air travel worldwide has resulted in an increased demand for commercial aircraft fleet, which is a major driver stimulating the growth of the aerospace fasteners market globally,” Technavios stated in a press release.
“Many countries are investing in the acquisition of military planes, helicopters, and transport aircraft.”
Analysts found that aerospace fastener manufacturers are focusing on emerging regions like Mexico, Brazil, India, and North Africa, because of their high demand for aircraft. This offers opportunities for third-party companies to collaborate with OEMs and open MRO service centers in these regions.
With a market share of more than 59%, the commercial aerospace segment holds the largest share of the global aerospace fasteners market in 2015, reaching approximately $5 billion in revenue and “continue(ing) its dominance until 2020.”
At present, the Americas dominates the aerospace fasteners market with many attractive investments contributing to its growth.
“The mergers of major airlines in the US is one of the main reasons driving the growth of the market as these airlines are investing in advanced technology and upgrading fasteners to enhance their flight safety and operations.”
The report is available for $2,500. Web: reportlinker.com
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