Newark, April 30, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 112.9 million aerospace riveting market will reach USD 180.4 million by 2033. In the aerospace industry, riveting machines are specialised tools used to fasten metallic parts of aircraft structures using rivets. Riveting is a crucial process in the aerospace industry because it ensures the reliable and durable attachment of parts, enhancing the structural integrity of the entire aircraft. The need for specialised equipment in the aircraft sector to attach metallic components precisely and effectively through riveting processes defines the aerospace industry's riveting market. The accuracy and dependability of riveting ensure that aircraft manufacturing fulfils high industry requirements. Automated riveting machines reduce manufacturing variability by producing reliable and predictable results. The overall manufacturing efficiency increases when assembly time is greatly decreased using automated riveting machines. As a result, aerospace parts are produced more quickly, with higher output and a quicker time-to-market.
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Key Insight of the Aerospace Riveting Market
North America will account for the largest market size during the forecast period.
Growing per capita income is the main factor driving market expansion, which has raised demand for air travel. As more people can afford to travel by air for business and pleasure, there is a greater need for commercial aircraft. The defence, military, and commercial sectors significantly influence aeroplane demand. Various aircraft types are required due to growing commercial airline fleets and defence modernisation projects, which raises the demand for riveting machines with composite handling capabilities.
The pneumatic riveting equipment segment dominated the market with the most significant revenue of USD 47.4 million.
The pneumatic riveting equipment segment dominated the market, with the most significant revenue of USD 47.4 million. Pneumatic riveting tools use compressed air and are lightweight, economical, and effective. Their natural lightweight benefits the aircraft sector.
The fixed equipment segment dominated the market with the most significant revenue of USD 66.6 million.
The fixed equipment segment dominated the market with the most significant revenue of USD 66.6 million. Fixed riveting equipment is precise and repeatable, so it is employed in aeroplane assembly, which lowers errors and increases productivity.
The original equipment manufacturers (OEM) segment dominated the market with the most significant revenue of USD 62.0 million.
The original equipment manufacturers (OEM) segment dominated the market, with a revenue of USD 62.0 million. Developing and manufacturing specialised systems or components, emphasising elements like type, mobility, riveting, and automation solutions, heavily relies on Original Equipment Manufacturers (OEMs). They create original goods or components and sell them to other businesses, such as aircraft manufacturers or integrators.
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Market Dynamics:
Drivers: Technical advancements in the aerospace manufacturing industries
The aerospace industry is experiencing a surge in demand for advanced riveting equipment due to advancements in production methods. Using lightweight materials and intricate structures in aeroplane designs has made precise component connecting increasingly important. Modern techniques like friction stir welding and laser riveting are increasingly essential for enhancing aircraft structures' strength, durability, and efficiency. This has prompted manufacturers of riveting tools to create innovative solutions that are particularly well-suited to the stringent needs of modern aircraft applications.
Restraint: Lack of qualified professionals
Programming and operating these machines require skill, so a need for more qualified operators for aerospace riveting machines could impede machine adoption. Because of the intricacy of the machinery and the precision needed in aerospace applications, operating riveting machines requires specialised training. A lack of comprehensive, easily available training programmes may reduce the pool of qualified operators. A lack of trained labour may make it difficult for businesses to maximise productivity, uphold quality standards, and promptly address technical issues.
Opportunity: Increasing technological advancement
Aerospace riveting has been a major beneficiary of artificial intelligence. Machine learning algorithms optimise riveting techniques by increasing production processes' accuracy and efficiency, which lowers errors and improves structural integrity. AI-powered predictive maintenance reduces downtime by ensuring equipment reliability. Moreover, large datasets are analysed using AI-driven analytics, which enhances quality control. As the aircraft industry continues to evolve, incorporating AI technology spurs creativity and operational efficiency, propelling breakthroughs in aircraft production.
Some of the major players operating in the aerospace riveting market are:
● Allfast Fastening Systems
● ATF Inc
● Avdel (India) Pvt. Ltd
● Boltun Corporation, Ltd.
● Broetje-Automation GmbH
● Cherry Aerospace
● Goebel Fasteners Inc
● Aircraft Spruce
● Apex Tool Group, LLC
● Atlas Copco AB
● Bay Supply
● Bossard Group
● Brown Aviation Tool Company
● Fastening Systems International, Inc
● Howmet Aerospace Inc
Key Segments cover in the market:
By Equipment:
● Electric Riveting Equipment
● Pneumatic Riveting Equipment
● Hydraulic Riveting Equipment
By Mobility:
● Portable Equipment
● Fixed Equipment
By End-User:
● Maintenance, Repair, and Overhaul (MRO)
● Original Equipment Manufacturers (OEM)
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About the report:
The global aerospace riveting market is analyzed based on value (USD million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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