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Aircraft Gaskets Market to Reach US$ 249.5 million in 2024

11-22-2018 01:24 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Stratview Research

Aircraft Gaskets Market to Reach US$ 249.5 million in 2024

Stratview Research announces the launch of a new research report on Aircraft Gaskets Market by Aircraft Type (Commercial Aircraft, Regional Aircraft, Helicopter, Military Aircraft, and General Aviation), by Application Type (Airframe, Landing Gear, Wheels & Brakes, Engine, and Others), by Material Type (Polymer Gaskets, Metal Gaskets, Composite Gaskets, and Conductive Gaskets), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024

This report, from Stratview Research, studies the Aircraft Gaskets Market over the trend period of 2013 to 2018 and the forecast period of 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The Aircraft Gaskets Market: Highlights

The aircraft industry represents less than 1% of the total gaskets market but is expected to be one of the fastest-growing markets for gaskets in the coming five years. The Aircraft Gaskets Market is projected to grow at a healthy rate over the next five years to reach US$ 249.5 million in 2024. Increasing production rates of key aircraft programs, such as B737, B787, A320, and A350XWB; increasing demand for fuel-efficient aircraft; advancement in gasket materials; and rising global aircraft fleet size are the major factors mushrooming the growth of the market. The market for aircraft gaskets is gradually consolidating as the major companies are performing mergers & acquisitions to quickly gain the leading position in the market. For instance; TransDigm Group Incorporated, a leading global designer, producer, and supplier of highly engineered aircraft components, acquired the Kirkhill Elastomers business of Esterline Technologies at a total purchase price of US$ 50 million in cash. Kirkhill Elastomers is one of the leading companies in the aircraft gaskets market.

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A gasket is a mechanical seal that fills the space between two mating surfaces that seals and isolates an enclosure. The shape of a gasket depends on its application like it is cut down in such a way to match the shape of the matt surface. Gaskets are used in the multiple areas of an aircraft in order to serve a wide array of functions, such as environmental sealing purposes, pressure retaining, vibration damping, fire-resistant or fireproof, and EMI/RFI shielding. Gaskets in the aircraft industry are exposed to a wide range of challenging and operating conditions, such as high-temperature and -pressure, aggressive chemicals, weightlessness, high frequency of oscillation, threat of fire and explosion. Hence, it becomes necessary to select a sealing material that can handle such harsh and extreme environment. The most commonly used materials for making gaskets in the aircraft industry are metals, composites, conductive, and polymers. The latter one comprises elastomers, such as silicone, fluorosilicone, polytetrafluoroethylene (PTFE), rubber, and thermoplastics.

Increasing production rates of key commercial aircraft programs are primarily driving the demand for aircraft gaskets. Both major commercial aircraft OEMs, Airbus and Boeing, are incessantly increasing the production of their best-selling aircraft programs in order to meet huge order backlogs of 13,315 commercial aircraft as of September 30, 2018. Irkut and COMAC, the newcomers in the commercial aerospace industry, also hold excellent order backlogs of their upcoming commercial aircraft programs, which is likely to further substantiate the demand for gaskets in the coming years. Also, aircraft OEMs have been introducing the fuel-efficient variants of their best-selling aircraft programs with the purpose to address the biggest requirement of the airline industry, which is the fuel-efficient aircraft. Introduction of lightweight, leakage prevention, and durable gaskets are the focal points of gasket manufacturers, helping them to gain momentum in the market.

The market is segmented based on the aircraft type as commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. Commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period. Increasing demand for commercial aircraft to support rising air passenger traffic, increasing production rates of key programs, such as B737, A320 family, B787, and A350XWB; market entry of new players, such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs, such as B737 max, A320neo, and B777X; and rising commercial aircraft fleet size across regions are the key factors propelling the demand for gaskets in the commercial aircraft segment.

Based on the application type, the market is segmented as airframe; landing gear, wheels, and brakes; engine; and others. Airframe is expected to remain the most dominant segment of the market during the forecast period. Gaskets are used in a wide array of airframe applications including fairings, antennas, wings, doors, windows, hatches, fuselage, canopies, and access panel, leading to its dominance in the market.

Based on the material type, the market is segmented as polymer gaskets, metal gaskets, composite gaskets, and conductive gaskets. Polymer gasket is expected to remain the largest segment of the market during the forecast period, whereas composite gasket is expected to witness the highest growth in the same period. There has been an incessant replacement of metal gaskets with composite gaskets, owing to their excellent strength-to-weight ratio at a relatively lower weight.

Based on the end-user type, the market is segmented as OE and aftermarket. The OE segment is projected to maintain its dominance over the next five years. Increasing production rates of key programs, such as B737 and A320 family; market entry of new players, such as COMAC; and upcoming aircraft programs are likely to create a strong demand for gaskets in the OE segment. The aftermarket segment, a relatively smaller segment, is likely to grow at a higher rate during the forecast period, owing to rising commercial aircraft fleet size and increasing demand for advanced lightweight gaskets, in order to achieve fuel efficiency.

In terms of regions, North America is expected to remain the largest market for aircraft gaskets during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, gasket suppliers, and airlines. All the major gasket manufacturers have presence in the region to address the emergent needs of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of the existing aircraft programs.

Asia-Pacific is expected to experience the highest growth in the global market during the forecast period. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ).

The supply chain of this market comprises raw material suppliers, aircraft gasket manufacturers, distributors, tier players, aircraft OEMs, airline companies, aircraft leasing companies, and MRO companies. The key players in the aircraft gasket market are Eaton Corporation Plc., Esterline Technologies Corporation, Freudenberg Group, Hutchinson SA, Meggitt Plc, Parker Hannifin Corporation, Compagnie de Saint-Gobain S.A., and SKF Group. Development of optimized aircraft gaskets, regional expansion, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

The aircraft gaskets market is segmented into the following categories:

Aircraft Gaskets Market, By Aircraft Type
• Commercial Aircraft
• Regional Aircraft
• Helicopter
• Military Aircraft
• General Aviation
Aircraft Gaskets Market, By Application Type
• Airframe
• Landing Gear, Wheels & Brakes
• Engine
• Others
Aircraft Gaskets Market, By Material Type
• Polymer Gaskets
• Metal Gaskets
• Composite Gaskets
• Conductive Gaskets
Aircraft Gaskets Market, By End-User Type
• OE
• Aftermarket
Aircraft Gaskets Market, By Region
• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences and Oil & Gas.

Stratview Research
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Detroit, Michigan, MI 48243
United States of America
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