Aerospace Riveting Equipment Market

Market Overview

The global Aerospace Riveting Equipment Market size was valued at USD 109.01 billion in 2023 and is predicted to reach USD 144.19 billion by 2030 with a CAGR of 4.08% from 2024-2030. The aerospace riveting equipment is a critical component in the assembly and maintenance of aircraft structures. It encompasses a range of tools and machines essential for fastening or joining metal parts together in aerospace applications. This equipment includes pneumatic, hydraulic, and electric riveting machines, as well as a variety of rivet types such as solid, blind, and semi-tubular rivets. Rivet sets complement rivet guns, holding and shaping rivet heads during installation, while bucking bars provide support on the opposite side of the rivet during the fastening process. Rivet shavers trim excess material from rivet heads for a smooth surface, and rivet squeezers accommodate tight spaces where conventional rivet guns cannot reach. Additionally, rivet removal tools facilitate repairs and adjustments without compromising surrounding structures. Aerospace riveters, meticulously designed to meet rigorous industry standards, plays a vital role in ensuring the precision, reliability, and safety of aerospace structures, including aircraft and spacecraft.

Market Dynamics and Trends

The aerospace riveting equipment market growth is driven by the growing aviation industry around the world, driven by the surging demand for air transportation. According to a report published by International Civil Aviation Organization, the demand for air transport is expected to rise by an average of 4.3% annually over the next 20 years.

This rise in air transport demand significantly rises the airplane manufacturing sector and thereby surging the aerospace riveting equipment market demand. Moreover, the adoption of reverting tools in the space industry propelled by the growing space vehicles, satellites is further driving the growth of the market.

It is widely use within the industry for assembling and maintaining space vehicles, probes, and satellites. According to a report published by Space Foundation, in January 2023, Space programs undergoes a rapid expansion, marked by a 23% annual increase in satellite deployment.

Also, the launch of commercial satellites is witnessing a remarkable year-over-year growth rate of 50%. This increase in space programs fuels the growth of the aviation riveting equipment market. However, the stringent regulatory compliance impedes the market's growth, as riveting equipment must meet rigorous standards for quality, safety, and performance.

On the other hand, the introduction of intelligent riveting systems such as the BR12PP-8 is expected to create future opportunities for the growth of the market. This cordless rivet tool enables manufacturers to minimize waste, streamline assembly areas, and seamlessly integrate real-time process data into their existing plant manufacturing execution systems. Moreover, it boasts error detection functionalities and adjustable force settings, thereby elevating the efficiency and quality control standards within manufacturing operations.

Market Segmentations and Scope of the Study

The aerospace riveting equipment market report is segmented on the basis of equipment, tools type, rivet type, application, end-user, and region. On the basis of equipment, the market is divided into hydraulic riveting equipment, pneumatic riveting equipment, electric riveting equipment, and others. On the basis of tools type, the market is bifurcated into rivet guns, bucking bars, straight rivet squeezers, and others. On the basis of rivet type, the market is segmented into solid rivets, blind rivets, tubular rivets, and others. On the basis of application, the market is further divided into commercial aircraft, military aircraft, spacecraft, and others. On the basis of end-user, the market is bifurcated into maintenance, repair, and overhaul (MRO), original equipment manufacturers (OEMs). Regional breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominates the aerospace riveting equipment market share at present and is expected to continue its dominance throughout the forecast period. This is due to the rise in space exploration programs and launch of satellites backed by companies such as SpaceX and NASA.

According to a report published by Space Foundation, in January 2023, in recent years the U.S. witnessed a total of 33% rise in satellite launch attempts. This rise in attempts expectedly increases the role of launch vehicles, thereby increasing the demand for aerospace riveting equipment.

The equipment plays a crucial role in weight management, structural integrity, and reliability, thereby enhancing the productivity of the space satellites, and launch vehicles. Thus, with the increase in space sector the demand for aerospace riveting equipment is rising significantly.

Furthermore, the aerospace riveting equipment market is witnessing substantial expansion driven by the growing aerospace manufacturing facilities in the region. These facilities aim at increasing the production of small satellites, payload carriers, and commercial aircraft. This surge in production demands advanced riveting equipment to meet the evolving needs of the aerospace industry.

For instance, in August 2024, Lockheed Martin launched a dedicated manufacturing facility aimed at enhancing the production of small satellites. As these manufacturing capabilities continue to expand, the demand for precise riveting equipment becomes increasingly essential, consequently driving the aerospace riveting equipment market growth.

On the other hand, Asia Pacific is showing a steady rise in the aerospace riveting equipment market due to the rise in demand for air transportation. According to a report published by Air Transport Association, in January 2024, the overall domestic traffic in China rises by 138.8% in the year 2023 compared to 2022.

This increase in air traffic indicates the rising number of new built airplanes within the region, thus propelling the demand for the aerospace riveting equipment market. The market, further, plays a crucial role in enhancing the build quality of the aircrafts, with increase in precision and reliability, propelling the growth of the market.

Moreover, the aerospace equipment market is driven by the growing government initiatives in upholding the Maintenance, Repair, and Overhaul (MRO) facilities within the region. According to a report published by India Brand Equity Foundation, in May 2023, the government of India decreased the goods and services tax (GST) by 25%, resulting in increasing MRO facilities from 113 to 140.

The increase in MRO indicates the growing demand for the market, as this equipment play crucial role in structural repairs, component replacement, and rivet inspection and replacement, thereby fuelling the growth of the aerospace riveting equipment market.

Competitive Landscape

Various key players, such as Cherry Aerospace, Brown Aviation Tool Supply, STANLEY Engineered Fastening, LAS Aerospace Ltd, Bollhoff Group, FANUC America Corporation, Rivetwise, Atlas Copco AB, Orbitform, Stanley Black & Decker, Inc., among others, comprise the global aerospace equipment market trends. These market players are adopting various strategies including product launches across various regions to maintain their dominance in the aerospace equipment market.

For instance, in October 2023, DEWALT, a subsidiary under Stanley Black & Decker, launched two new cordless, brushless rivet tools for fastening aluminium, steel, and stainless-steel blind rivets.

The tools are designed to maximize productivity, being lightweight yet powerful. They feature tool-free nose-piece changes for ease of use in various applications such as pre-fabrication, assembly, HVAC, roofing, and automotive applications.

Moreover, in October 2023, Atlas Copco Tools and Industrial Assembly Solutions launched the EBB16 cordless drill specifically tailored for the aerospace sector. This drill is designed to enhance quality and productivity while reducing operator injuries. The EBB16 is lightweight and compact, powered by a Lithium-Ion battery with a double battery position for accessing tight locations within the airframe.

Key Benefits

• The report provides quantitative analysis and estimations of the aerospace riveting equipment market from 2024 to 2030, which assists in identifying the prevailing industry opportunities.

• The study comprises a deep-dive analysis of the current and future aerospace riveting equipment market trends to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the aerospace riveting equipment market is provided in the report. 

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and Porter’s Five Forces model is elaborated in the study.

• Value chain analysis in the aerospace riveting equipment market study provides a clear picture of the roles of stakeholders.

Aerospace Riveting Equipment Market Key Segments

By Equipment

• Hydraulic Riveting Equipment 

• Pneumatic Riveting Equipment

• Electric Riveting Equipment 

• Others

By Tools Type

• Rivet Guns 

• Bucking Bars 

• Straight Rivet Squeezers 

• Others

By Rivet Type

• Solid Rivets

• Blind Rivets

• Tubular Rivets 

• Others

By Application

• Commercial Aircraft 

• Military Aircraft 

• Spacecraft 

• Others

By End-User

• Maintenance, Repair, And Overhaul (MRO)

• Original Equipment Manufacturers (OEMs)

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2023	USD 109.01 Billion
Revenue Forecast in 2030	USD 144.19 Billion
Growth Rate	CAGR of 4.08% from 2024 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	Growing aviation industry is propelling the growth of the market. Rising space sector and programs is driving the growth of the market.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.

Key Players

• Cherry Aerospace

• Brown Aviation Tool Supply

• STANLEY Engineered Fastening.

• LAS Aerospace Ltd

• Bollhoff Group

• FANUC America Corporation

• Rivetwise

• Atlas Copco AB

• Orbitform.

• Stanley Black & Decker, Inc.