Aerospace Riveting Equipment Market Projected to reach $134 million by 2028

The Aerospace Riveting Equipment Market is projected to grow from USD 109 million in 2023 to USD 134 million by 2028, at a CAGR of 4.3% from 2023 to 2028. Continuous advancements in aerospace manufacturing technologies drive the demand for innovative riveting equipment. As aircraft designs evolve to incorporate lightweight materials and intricate structures, the need for precision in joining components becomes paramount. Technologies such as laser riveting and friction stir welding offer solutions that enhance the strength, durability, and efficiency of aircraft structures. This driver stimulates innovation among riveting equipment manufacturers, fostering the development of cutting-edge solutions to meet the stringent requirements of modern aerospace applications. The increasing emphasis on fuel efficiency and the demand for sophisticated aircraft further fuel the adoption of advanced riveting technologies, positioning the market for sustained growth.

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Based on End Use, OEM Segment is leading the market during the forecast period. OEMs are responsible for the initial manufacturing and assembly of aircraft. As aircraft production has increased globally to meet the growing demand for air travel, OEMs engage in large-scale production, requiring extensive riveting processes for assembling structural components. The sheer volume of production contributes significantly to their dominance in the market.

Based on Equipment Type, the Pneumatic Equipment segment is projected to hold a larger market share during the forecasted period. Pneumatic riveting tools are known for their rapid operation, allowing for faster and more efficient riveting processes. In the aerospace industry, where large-scale production is common, the speed of riveting is a crucial factor in meeting production schedules and timelines.
Based on mobility, Portable mobility equipment have higher growth during the forecast period. Portable and handheld riveting equipment offers enhanced flexibility and maneuverability in aerospace assembly processes. Aircraft structures can be complex, and the ability to easily navigate tight spaces or awkward angles is crucial for efficient riveting. Portable tools provide operators with the flexibility to access challenging areas, contributing to overall assembly precision.

Based on Region, North America accounted for the largest market share in 2023. North America, particularly the United States, is home to some of the world's largest and most influential aerospace manufacturers, including Boeing and Airbus facilities. The region is a hub for aerospace innovation, research, and development, leading to a high concentration of aerospace manufacturing activities.

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Major players operating in the Aerospace Riveting Equipment Market include Chicago Pneumatic (US), Ingersoll Rand (US), Cherry Aerosapce (US), Stanley Engineered Fastening (SEF) (US), LAS Aerospace Ltd. (UK). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific.

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This release was published on openPR.