New aerospace fasteners’ market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads. The aerospace fasteners market will grow by US$ 2.51 billion from 2020-2024, according to the analyst. The aerospace fasteners market is expected to post a year-over-year growth rate of 5.89%. Around 36% of growth will originate from the North America region.
The UK Government and industry has confirmed new aerospace research and development projects, supported by £400 million public and private sector funding projects. These include developing high-performance engines, new wing designs and ultra-lightweight materials to reduce fuel consumption.