Saudi Arabia Aerospace Fasteners Market Size & Outlook, 2025-2033

Saudi Arabia Aerospace Fasteners Market Size

The Saudi Arabia Aerospace Fasteners Market revenue was valued at USD 426.2 million in 2024 and is projected to grow from USD 488.87 million in 2025 to reach USD 846.27 million by 2033, exhibiting a CAGR of 7.1% during the forecast period (2025-2033). 

Saudi Arabia's aerospace and military business is rapidly expanding, with large expenditures in the aviation sector as part of the country's Vision 2030 project. This strategy plan seeks to diversify the economy and lessen reliance on oil revenues by expanding other sectors, such as aerospace and defense. The country aims to modernize its military capabilities by growing and updating its fleet of aircraft. Furthermore, Saudi Arabia's market is likely to profit from the country's strategic location as a Middle Eastern air transport and logistics hub. The ongoing expansion of airport infrastructure and the growth of commercial aviation are other factors boosting the need for aerospace fasteners.

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Saudi Arabia Aerospace Fasteners Market Growth Factors

Military Modernization Program

Saudi Arabia was rated as the world's fifth-largest defense spender in 2022, trailing only the United States, China, Russia, and India. According to the Saudi Ministry of Finance's 2023 budget, revealed in December 2022, Saudi Arabia's military spending will increase by 50% to USD 69 billion in 2023, accounting for nearly 23% of the entire budget.

For example, in December 2021, the Royal Saudi Air Force (RSAF) AWACS Modernization Program Phase 2 granted Boeing a USD 397.9 million contract to modernize its fleet of Boeing E-3 Sentry Airborne Warning and Control System (AWACS) aircraft. According to the contract, the business will modernize five aeroplanes by 2026. The massive rise in the defense budget is part of Saudi Arabia's Vision 2030 plans, which include localizing 50% of government spending in the defense industry. The country's defense budget funds the acquisition of modern military aircraft and the development of local manufacturing capabilities, increasing demand for aerospace fasteners.

Moreover, the government is working to establish its defense manufacturing capabilities. It is concentrating on enacting rules to ensure that its publicly traded defense firms account for over half of its defense revenue share by 2030. As a result, Saudi Arabia's military modernization efforts, fueled by significant defense spending and strategic ambitions, create enormous prospects for the aerospace fasteners industry.

Market Restraint

Shortage of Skilled Workforce

The need for more skilled workers is a severe impediment to expanding Saudi Arabia's aerospace fasteners sector. Saudi Arabia is experiencing a skilled worker shortage, which might cost the government USD 206.77 billion by 2030. The advanced manufacturing processes in making aircraft fasteners necessitate highly specialized skills, which currently need more supply in the country.

According to the General Authority for Statistics (GASTAT), Saudi Arabia's unemployment rate in Q4 2023 was 4.4%. This underlines the importance of targeted efforts to upskill and equip the local workforce for professions in high-demand industries such as aerospace manufacturing. Thus, the need for more skilled labor can cause production bottlenecks and delays in reaching industrial deadlines. Aerospace industries may need more trained workers to operate at total capacity.

Market Opportunity

Expansion of the Civil Aviation Sector

The expansion of civil aviation infrastructure in Saudi Arabia represents a substantial opportunity for the aerospace fastener market. With rising air travel demand and the establishment of new airports and airlines, there is a greater demand for aerospace fasteners to support aircraft manufacturing, maintenance, and repair activities. Universal Weather and Aviation have signed an agreement with Altanfeethi to explore prospects for modernizing Saudi Arabia's general aviation infrastructure, the firms stated at EBACE 2024. The move comes a week after the Saudi General Authority of Civil Aviation (GACA) released a general aviation roadmap to increase the sector's GDP to USD 2 billion by 2030, in line with the country's overall Vision 2030 strategy and the Saudi Aviation Strategy.

Regional Insights

Saudi Arabia's aerospace fasteners market varies by area, owing to variables such as industrial infrastructure, proximity to significant aviation hubs, and government investments in regional development initiatives. King Abdulaziz International Airport (KAIA) in Jeddah is one of the Middle East's busiest airports. The airport is a vital transportation center for local and international flights, increasing demand for aerospace fasteners used in aircraft maintenance and operations. Last year, passengers flew on 250,000 flights, up from 200,000 in 2022, representing a 25% increase. Jeddah Airports Company (Jedco) intends to transform King Abdulaziz International Airport (KAIA) into one of the world's largest airports with an SR115 billion (USD 31 billion) expansion plan that will increase its capacity to 114 million passengers per year. This is expected to boost passenger capacity and drive demand for aerospace fasteners in airport infrastructure construction.

Material Insights

The market is divided into distinct segments by material into aluminum, titanium, and alloy steel. Aluminum dominates the aerospace fasteners market and is estimated to grow at a CAGR of 6.5%. The popularity of aluminum can be attributed to its exceptional characteristics, such as its low weight, high strength-to-weight ratio, and corrosion resistance, making it an ideal choice for aircraft applications. These characteristics contribute to the total reduction in the weight of the aircraft, enhanced fuel efficiency, and lowered operating expenses.

Products Insights

The market is divided into three segments based on products into Nuts and Bolts, Rivets, and Screws.Rivets are extensively utilized in the aviation industry due to their remarkable durability, strength, and ability to create long-lasting and robust connections. Their role in aircraft building is vital, particularly in ensuring safety and performance by maintaining structural integrity.

Application Insights

Based on its application, the market can be divided into Military Aviation, Commercial Aviation, and Civil Aviation. The aerospace fastener market is primarily driven by commercial aviation and is estimated to increase at a CAGR of 6.9% over the forecasted period. The dominant position of this industry is attributed mainly to a significant surge in demand for new aircraft, driven by the continuous growth of global air traffic, the expansion of fleets, and the replacement of aging aircraft. The constant expansion in passenger and freight movement requires the development of new commercial aircraft, hence increasing the need for aerospace fasteners.

List of key players in Saudi Arabia Aerospace Fasteners Market

1. Prince Fastener Manufacturing Co. Ltd
2. Arconic Fastening Systems
3. Precision Castparts Corp. (PCC)
4. Stanley Black & Decker
5. LISI Aerospace
6. Alcoa Fastening Systems & Rings
7. SKF Group
8. Safran Group

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Recent Developments

• May 2024- Embraer collaborated in developing the aerospace ecosystem in Saudi. Embraer, in collaboration with the Kingdom of Saudi Arabia's National Industrial Growth Center (NIDC) and AHQ Group, will contribute to the growth of the Saudi aerospace ecosystem.