Aerospace Riveting Equipment Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Product Type (Pneumatic Riveting Tools, Hydraulic Riveting Tools, Battery-Powered Riveting Tools, Handheld Riveting Tools, and Robotic Riveting Systems), By Application (Commercial Aircraft Manufacturing, Military Aircraft Manufacturing, General Aviation, Spacecraft Manufacturing, and Maintenance, Repair, and Overhaul (MRO) Operations), By End-User (Original Equipment Manufacturers (OEMs), Tier 1, Tier 2, and Tier 3 Suppliers, MRO Service Providers), By Technology (Conventional Riveting, Self-Pierce Riveting, Solid Riveting, Blind Riveting) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global Aerospace Riveting Equipment Market was valued at USD 104.3 Million in 2022 and is anticipated to reach a value of USD 148.2 Million by 2030 expanding at a CAGR of 4.6% between 2023 and 2030.

A rivet is a mechanical tool used as a fastener to hold surfaces adjacent to each other. It is composed of two parts: a cylinder head and a tail that rests on the other side of the cylindrical shaft. Certain tools and rivets, which are all together referred to as rivet guns, are needed to put rivets.  The rivet finds extensive application in diverse end-user industries, including but not limited to automotive and aerospace, building and construction, transportation, carpentry, and decorative applications. The factors such as the time and efficiency both is the basic constituent for production industry to generate revenue and attain profit, this germinates the enhanced requirement of portable riveting tools has resulted in growth in the market. In the aviation sector, rivets are utilized to join and fix various components. Specialized tools called aerospace riveting machines are employed for this purpose. These devices are essential for guaranteeing the safety and structural soundness of different aircraft components. Precise and reliable riveting operations are made possible by their efficient automation.

Aerospace Riveting Equipment Market Major Driving Forces

Growing Demand for Aircraft: The market is expanding due to the rising demand for aircraft on a worldwide scale as well as the growing requirement for lightweight and fuel-efficient aircraft constructions. The number of airplanes produced is increasing in the aviation sector, which is increasing the need for aerospace riveting machines.

Technological Advancements: The aerospace manufacturing processes' technical advances are also driving the market's expansion. Advanced features such as faster cycle times, enhanced precision, and smarter automation are now present in newer machines. These characteristics boost output and shorten the time it takes to assemble an airplane, which is essential for satisfying the increasing demand and cutting expenses.

Maintenance, Repair and Overhaul (MRO) of Aircrafts: The aerospace industry's maintenance, repair, and overhaul (MRO) sector is anticipated to propel market expansion as well. MRO activities become more and more necessary as the number of aircraft in service climbs. For MRO operations involving the replacement and repair of rivets in aircraft structures, aerospace riveting machines are required.

Government Policies: Government programs and expenditures on aircraft infrastructure are boosting the sector's expansion, which would subsequently help the market for aerospace riveting machines.

Aerospace Riveting Equipment Market Key Opportunities

Expanding Air-Traffic: In the upcoming years, the aerospace sector is anticipated to experience significant expansion due to the growing demand for new aircraft to accommodate the expanding air passenger traffic. As a result, there will be more opportunities for aerospace riveting machines, which are essential to the assembly of aircraft structures.

Demand in Space Vehicle and Guided Missile Industry: In the space vehicle and guided missile industries, riveting machines help construct strong, dependable structures that can survive the harsh environments encountered in space missions and flight. Therefore, offering a further opportunity.

Growing Need for Lightweight Aircraft: The aviation sector is putting more and more effort into creating lightweight aircraft in order to cut emissions and increase fuel efficiency. When putting together structures composed of cutting-edge materials including lightweight metals and composite composites, aerospace riveting equipment is essential.

Aerospace Riveting Equipment Market Key Trends

·         Automated riveting equipment combined with robotic systems improves assembly operations' accuracy, speed, and overall efficiency.

·         Advanced materials such as titanium, lightweight alloys, and composite materials are being used by the aerospace industry more and more.

·         The development of smart riveting tools is being influenced by the aerospace manufacturing sector's embrace of Industry 4.0 ideas.

·         Aiming for fuel economy and sustainability, the aerospace sector is looking for methods to lighten aircraft structures.

·         The design and production of aircraft structures are impacted by the trend toward electrification in aviation, which includes the development of hybrid and electric propulsion systems.

·         Developing robust, regional supply chains is gaining importance in the aerospace sector.

Region-wise Market Insights

North America accounted for the largest market share at 40.2% in 2022 whereas, Asia Pacific is expected to register the fastest growth, expanding at a CAGR of 5.1% between 2023 and 2030.

North America is the region which has registered the largest market share of 40.2%, accounting USD 41.9 Million in the global aerospace riveting equipment market. The market in this region is driven by robustness of the aerospace industry in this region, increasing aircraft production rates, technological advancements in aircraft manufacturing, greater emphasis on the research and development of lightweight materials, modernization programs of military aircraft, presence of key aerospace clusters in the region, R&D and innovation investments in the aerospace sector. Asia-Pacific is the region which has registered the highest compound annual growth rate (CAGR) of 5.1% in the global market of aerospace riveting equipment. The Asia-Pacific region is seeing a shift in manufacturing activities due to cost advantages and market demand. Additionally, investments in research and development are helping to adopt innovative manufacturing processes. The region's market is driven by a surge in demand for air travel, which has resulted in the expansion of commercial aviation fleets and the rise of low-cost carriers, which has led to increased aircraft orders and a focus on cost-effective manufacturing.

Market Competition Landscape

The competitive environment of the aerospace riveting equipment market is defined by the existence of both domestic and international rivals. The aerospace riveting equipment sector has consolidated as a result of mergers and acquisitions, wherein larger companies have acquired smaller firms in order to strengthen their market position and expand their capabilities. Due to this trend, notable companies with a wide range of products and services and a global presence have emerged. Innovative technologies are being quickly adopted by businesses in the aerospace riveting equipment market in order to improve project efficiency, safety, and environmental sustainability. Businesses having a wide geographic reach are better able to access a variety of markets and possibilities. They can increase their market share and diversify their project portfolio by utilizing their regional or worldwide footprints. Prominent players in the market include:

·         Boeing Aerospace

·         Airbus Group

·         Alcoa Fastening Systems & Rings (AFSR)

·         Chicago Pneumatic

·         Gesipa Blindniettechnik GmbH

·         Huck International (Arconic)

·         Avdel (Stanley Engineered Fastening)

·         Emhart Teknologies (STANLEY Engineered Fastening)

·         KUKA AG

·         Desoutter Industrial Tools

·         Hi-Shear Corporation (TriMas Aerospace)

·         Henrob (Atlas Copco)

·         Sherex Fastening Solutions

·         Cooper & Turner Aerospace

·         Stanley Black & Decker (STANLEY Engineered Fastening)

Boeing is a significant participant in the aerospace sector and offers a variety of options for the manufacture of aircraft. They provide riveting tools and equipment as part of their extensive offering for the aircraft manufacturing industry. Airbus is one of the world's top producers of airplanes. The business develops and produces both military and commercial aircraft, in conjunction with its subsidiaries. Airbus works with a number of businesses that supply riveting equipment for its manufacturing processes.