Aerospace Fastener Industry Development Stages, Downstream Applications and Entry Barriers

Release time:

2021-03-03

There is still a gap between China's aviation fasteners and the world's advanced countries in terms of variety, grade and production capacity, which seriously hinders the development of new aircraft.

Core reminder: my country's aviation fasteners still have a gap with the world's advanced countries in terms of variety, grade, and production capacity, which seriously hinders the development of new aircraft.

　　1. Global aerospace fastener market development analysis

From the perspective of the world's fastener manufacturers, aerospace fastener companies mainly include American Aluminum (Alcoa), American Precision Casting (SPS), France's Reese Aerospace Group (LisiHi-shear), and American Boeing (Boeing) Company. Its fastener companies and American Monogram companies and other professional companies; Russian aerospace fasteners are self-contained systems for their domestic use. The above fastener companies have a series of products that they are good at, and at the same time cover most of the products, thus forming a supply network of aviation and aerospace fasteners to meet the needs of major aircraft manufacturers. Among them, American Arconic (Alcoa's split company), American Precision Metal Parts Company (Precision CastpartsCorp) and French LISI have a market share of more than 50%.

From the perspective of the world fastener market, the United States and Europe will remain the two main markets for the aerospace industry in the future. Driven by the strong development of the Asian market, the Asia-Pacific region has great potential for the development of its aerospace industry and has maintained a relatively high growth rate in recent years. The development of the Asia-Pacific region and the rise of the Chinese market will promote China to become the largest net exporter of high-end industrial fasteners by taking advantage of its low cost and raw materials.

From the point of view of the demand for fasteners, technical tough, high-performance special aerospace fasteners, special purpose fasteners and standard fasteners will flourish in the next few years. The use of these fasteners in emerging markets such as non-military and nano-aerospace will also grow. In addition, the rapid development of the aircraft manufacturing industry and the increase in military expenditures will further promote the development of the aerospace fastener market. At the same time, the demand for high-performance fasteners, especially large-diameter, high-strength fasteners used on turbines, is also growing rapidly in the wind power industry.

2. Analysis of the development of China's aerospace fastener market

Fasteners have experienced 5 generations from the beginning to the present, and the overall trend is that the structure is developing towards light and small, combined development, and the performance is innovating towards high strength and high reliability. Fastener development stages are shown in the following figure:

Development stage of fasteners in China

jzz

At present, the fasteners produced by many enterprises in China's industry are at the level of the first generation of general fasteners, with low strength, large structure, difficult price increase, overcapacity and fierce market competition. High-end fasteners used in automobiles, ships, wind power, nuclear power and other fields are in the second and third generations, and their materials have high technological content, strength and fatigue resistance are greatly enhanced. The high-end fasteners used in aerospace and other fields have basically reached the level of the third generation fasteners, and are gradually transitioning to the fourth and fifth generations.

There is still a gap between China's aviation fasteners and the world's advanced countries in terms of variety, grade and production capacity, which seriously hinders the development of new aircraft. Therefore, accelerating the transformation of existing equipment, reasonable reorganization of institutions, the introduction of the necessary international advanced manufacturing technology and equipment and direct adoption of international technical standards and inspection standards, can make China's aviation standard parts reach the world advanced level. In this regard, the Ministry of Industry and Information Technology issued the "Mechanical Basic Parts Industry Revitalization Plan", and proposed to focus on the development of aviation titanium alloy, aluminum-magnesium alloy fasteners in the supporting field of high-end equipment manufacturing.

　3, aerospace fasteners market downstream applications.

Aerospace fasteners are mainly used in electronic systems, engines, structures, etc. Sales orders for such products usually include product sales and after-sales maintenance. Therefore, aerospace fastener marketing projects are very comprehensive.

Aerospace fasteners are widely used in commercial and military aircraft, ballistic missiles, rockets, and are also supplied to the aftermarket. The development of tourism and the rising demand for commercial aircraft are the main reasons for the growth of China's aerospace fastener market. The higher the degree of industrialization, the stricter the market, the higher the quality requirements and market value of fasteners. Compared with the automotive fastener market, the industrial fastener market such as electronic and communication equipment, the aerospace fastener market is the market with the highest added value and the most stable price. In order to ensure the safety and operability of aircraft, aerospace manufacturers continue to invest in technological innovation and fastener upgrades, which also plays a positive role in promoting the entire aerospace market.

4, aerospace fasteners market entry barriers.

The aerospace fastener industry has high requirements for technology and capital, and the technology monopoly of this industry is high. Enterprises must improve production efficiency, improve product quality, and meet the individual needs of different customers for products through continuous research and development. Enterprises that have accumulated rich production experience in long-term production practice and have mature technology and reliable production processes can maintain their dominant position for a long time. The aerospace fastener industry has high technical requirements, which also means that companies in the industry need to invest a lot of money in technology research and development, coupled with the high price of production equipment in the aerospace fastener industry, so the aerospace fastener industry has high financial barriers.

(Source: PwC)