Aircraft Installation Tools Market is Forecasted to Reach US$ 0.6 billion in 2032 | Stratview Research
The global aircraft installation tools market is projected to witness a growth rate of 1.8% annually from 2024 to 2032, with an anticipated size of US$ 0.6 billion by 2032, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global aircraft installation tools market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights:
Market Size in 2032: US$ 0.6 billion
Growth (CAGR): 1.8% during 2024-2032
Forecast Period: 2024-2032
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Segment Insights on the Aircraft Installation Tools Market:
The global aircraft installation tools market is segmented based on aircraft type, sales-channel type, end-user type, tools type, and region.
Based on aircraft type – The market is segmented into commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation.
Commercial aircraft is forecasted to emerge as the foremost and most tool-consuming category in the market during the forecast period. The commercial aviation industry is rebounding globally. The rise in civil aviation and air cargo transportation is significantly boosting the demand for commercial aircraft. As the fleet size rises, the need for installation tools will become more pronounced. The rising demand for fasteners and fluid fittings in the aircraft industry will fuel the demand for installation tools. Commercial airlines operate under strict safety and regulatory standards, requiring frequent and comprehensive MRO cycles. Airframes have a planned calendar for MRO, generating consistent demand for avionics requirements tools.
Based on the sales-channel type – The market is segmented into indirect sales and direct sales.
Indirect sales constitute the bigger chunk of the pie due to abundant distributors offering a diverse range of tools from multiple manufacturers. The tooling business differs from the fastener business, with a significant dominance of indirect sales, mainly due to the low ticket/order size paired with many MRO providers. Since the start of this decade, distributors and tool manufacturers have strategically collaborated with airlines and military aviation organizations to make the supply chain more resilient. Distributors offer a wide range of variations and custom kitting solutions. They also provide after-sales and repair services.
Based on the end-user type – The market is segmented into OEMs, tier players, and MRO.
Aftermarket sales have dominated in the past few years and will likely maintain dominance by 2032. OEMs strategically collaborate with the tool manufacturers to ensure a smooth and consistent supply. Both civil and military aviation fleets are enormous and have a significant demand for service and repair. This marks the growth of aftermarket sales of these tools. The massive increase in the operating fleets, mainly low-cost carriers, particularly in emerging economies, has also supported the growth of aftermarket services. Sustained improvements in sustainability have seen original equipment manufacturers fit new engines and parts with higher fuel efficiency on aged aircraft, increasing aftermarket tool requests.
Based on the tools type – The market is segmented into fluid fittings tools [kits, hydraulic pumps, standalone tools, and others] and fastener tools [solid rivet tools, torque wrenches, electric/pneumatic screwdriver, drilling tools, blind fastener tools, and others].
Fastener installation tools have massive dominance in the aircraft installation tools market due to their extensive use in the airframe, engine, and other components of an aircraft. Aircraft assembly involves thousands of couplings and joints needed to ensure the safe and reliable operation of the aircraft. Over 6 million parts are required in order to assemble each B747, half of which are fasteners. Due to such widespread use, fasteners create a significant demand for tools. Rivet guns, blind fastener tools, and power drilling tools are in demand for assembly and MRO purposes. Fluid fitting tools are also growing steadily. Waterwaste and fuel systems are common application areas in aircraft. Apart from these, aircraft’s hydraulic and pneumatic components also generate demand for installation tools.
To know the most attractive segments, visit:
https://www.stratviewresearch.com/3881/aircraft-installation-tools-market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America dominated the market. The Asia-Pacific region is set to register the fastest growth in the forecasted period. This growth outlook is majorly attributed to the following-
– Demand has risen significantly due to the extensive purchases of tools for military aircraft by DLA and other government-run bodies in the USA. Private players’ presence in the USA’s aircraft MRO market has expanded this region’s share.
– Europe is currently in second place, owing to the presence of several aircraft manufacturers. These companies follow stringent safety regulations and provide regular service and repair, driving demand for installation tools.
– Asia-Pacific aviation industry is expected to grow at a CAGR of more than 5% during the forecasted period. South Asian nations are increasing their military aircraft fleet, and regional and business jets are growing fast, driving demand for installation tools.
Aircraft Installation Tools Market Drivers:
Some of the key drivers listed in the report are given below.
– The ever-increasing aviation fleet drives the overall aircraft installation tooling market, and increased demand for air travel leads to increased aircraft production and boosts demand for tools. As the number of aircraft in operation increases, the need for maintenance and repair activities rises proportionally.
– Tooling becomes essential for routine inspections, repairs, and overhauls to ensure the aircraft’s safety, reliability, and compliance with regulatory standards. The expanding global aviation fleet catalyzes the sustained demand for various installation tools.
– Technological advancements have made aircraft systems more sophisticated and intricate, and hence, the tools used to install these systems must be produced in compliance with modern systems. Diagnostics, precision measurement, and inspection tools have become increasingly important.
Top Companies in the Aircraft Installation Tools Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Howmet Aerospace
• Precision Castparts Co.
• Stanley Black & Decker
• TriMas Aerospace
• TransDigm Aerospace
• Eaton Aerospace Inc.
• Parker Aerospace
• Swagelok Company
• Snap-On Industrial
• Apex Tools
• Chicago Pneumatic
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Aircraft Installation Tools Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
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