Global Aerospace Riveting Equipment Industry Research 2023-2024 And 2028 - Growing Emphasis On Lightweight Materials And Rising Focus On Precision And Quality In Manufacturing Aerospace Components


(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 04, 2024 (GLOBE NEWSWIRE) -- The "Global Aerospace Riveting Equipment Market by End Use (OEM, MRO), Equipment Type (Pneumatic, Hydraulic, Electric), Mobility (Fixed, Portable), Technology (Automated, Manual), Rivet Type (Solid, Blind, Semi-tubular) and Region - Forecast to 2028" report has been added to ResearchAndMarkets's offering.
The Aerospace Riveting Equipment market is valued at USD 109 million in 2023 and is projected to reach USD 134 million by 2028, at a CAGR of 4.3% from 2023 to 2028

This market study covers the Aerospace Riveting Equipment market across various segments and subsegments. It aims to estimate this market's size and growth potential across different parts based on Rivet Type, End Use, Equipment Type, Mobility, Technology and region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.

Over the last few years, the Aerospace Riveting Equipment industry has continued to evolve with expanding use cases, better cost efficiencies, and a more significant impact of new technological developments in the aerospace industry. The Aerospace Riveting Equipment market is experiencing growth driven by rising demand for commercial aircraft and an increase in aircraft fleet modernization programs.

Based on Equipment type, the Pneumatic Rivet Equipment segment is estimated to have the largest market share in 2023
The Pneumatic Rivet Equipment segment in the Aerospace Riveting Equipment market is being driven due to its efficiency, versatility, and widespread adoption in aircraft manufacturing processes. Pneumatic riveters utilize compressed air to drive rivets, offering a lightweight and agile solution to enable precise and rapid riveting, contributing to increased production rates. The Pneumatic Rivet Equipment offers cost-effectiveness, reliability, and ease of maintenance which contributes to its widespread adoption by both original equipment manufacturers (OEMs) and aerospace suppliers.
Based on mobility, the Portable Equipment is estimated to have the largest market share in 2023
The Portable Equipment segment within the Aerospace Riveting Equipment market is being driven due to its flexibility, mobility, and adaptability to diverse aerospace manufacturing environments. The demand for on-the-go repairs, maintenance tasks, and scenarios where flexibility in aerospace manufacturing processes is paramount are driving factors for portable equipment. Portable tools play a vital role in facilitating dynamic aerospace operations, ensuring adaptability in various work environments.
Based on technology, the Manual Riveting Equipment is estimated to have the largest market share in 2023
The Manual Riveting Equipment segment within the Aerospace Riveting Equipment market is being driven due to its, its advantages in simplicity, flexibility, and suitability for specialized aerospace scenarios. Manual riveting allows for hands-on precision which ensures rivets are accurately placed and secured. Manual riveting equipment is cost-effective for smaller-scale operations, maintenance tasks, or in situations where automation may not be practical. The flexibility of manual riveting equipment makes them valuable for addressing specific needs in the aerospace industry.
Based on End User, the OEM is estimated to have the largest market share in 2023
The End User segment in the Aerospace Riveting Equipment market is being driven by the OEM segment. Original equipment manufacturers (OEMs) for the Aerospace Riveting Equipment market rely heavily on construction of airframes, fuselages, and other critical components. These OEMs play a crucial role in providing the essential systems that contribute to the safe and efficient operation of aerospace assets. The OEMs offer high-quality standards for their products through rigorous testing, quality control measures, and adherence to industry standards, which results in the growth of OEMs.
Based on regions, the North America region is estimated to have the largest market share in 2023
The North America region is witnessing robust growth in the Aerospace Riveting Equipment market, driven by the presence of various aerospace companies. The US is a global leader in aircraft production, and its commitment to military and commercial aviation drives the demand for aerospace riveting equipment. Governments in the region are making substantial investments in advanced technological-based aerospace systems. Additionally, the North America focus on research and development, and collaborations between industry stakeholders contributes to grow the market growth.

Key Attributes:

Report Attribute Details
No. of Pages 182
Forecast Period 2023 - 2028
Estimated Market Value (USD) in 2023 $109 Million
Forecasted Market Value (USD) by 2028 $134 Million
Compound Annual Growth Rate 4.3%
Regions Covered Global


Premium Insights

  • Increasing Demand for Aircraft Deliveries and Development of Innovative Riveting Technologies to Drive Market
  • Manual Riveting Equipment Segment to Have Largest Market Share in 2023
  • Solid Rivet to Register Highest CAGR During Forecast Period
  • Saudi Arabia to be Fastest-Growing Market During Forecast Period

Market Dynamics

Drivers

  • Growing Emphasis on Lightweight Materials
  • Increasing Complexities in Aircraft Designs
  • Rising Focus on Precision and Quality in Manufacturing Aerospace Components

Restraints

  • Stringent Regulatory Compliance and Certification Standards
  • Limited Adoption of Advanced Technologies

Opportunities

  • Innovations in Materials and Joining Techniques
  • Integration of Smart Riveting Technologies
  • Aftermarket Services and Maintenance Contracts

Challenges

  • High Initial Investment and Certification Challenges
  • Cyclical Demand Dependent on Aircraft Production Cycles
  • Limited Availability of Skilled Workforce
  • Market Scenario Analysis

Value Chain Analysis

  • Raw Materials
  • Research & Development
  • Component Manufacturing
  • OEMs
  • End-users
  • Aftersales Services

Technology Analysis

  • Auto-Feed Riveting Tools
  • Battery-Powered Rivet Guns

Industry Trends

Technology Trends

  • Advanced Automation and Human-Robot Collaboration
  • Advanced Materials Solution
  • Additive Manufacturing
  • Energy-Efficient Riveting Process

Impact of Megatrends

  • Industry 4.0
  • 3D Printing
  • Artificial Intelligence and Machine Learning
  • Predictive Maintenance

Company Profiles

Key Players

  • Stanley Engineered Fastening
  • Cherry Aerospace
  • Brown Tool
  • Las Aerospace Ltd.
  • Ingersoll Rand
  • Fastening Systems International
  • Broetje-Automation
  • Atlas Copco Ab
  • Aircraft Spruce
  • Gemcore Ascent
  • Kuka Systems
  • Avdel
  • Cleco Tools
  • Sioux Tools

Other Players

  • Bay Supply
  • Aircraft Tool Supply Company
  • Skyshop Australia
  • Monroe Aerospace

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