Aircraft Gaskets Market In-dept Analysis & key growth drivers| Forecast To 2024, Prominent players Meggitt, Esterline Technologies Corporation, SKF Group, Eaton corporation, Freudenberg Group, Hutchinson

Asia Pacific will showcase significant growth rate over the projected timeframe. This growth is attributed to the increasing prevalence of low-cost airliners across the region. The proliferating tourism sector along with increasing disposable income will further support the aircraft gaskets market expansion till 2024.

Increasing MRO activities offering periodic maintenance and replacement components for complying with stringent regulations for airworthiness is providing a positive outlook for the industry growth.

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Based on aircraft, the industry is classified as military aircraft, general aviation, regional aircraft, helicopter, and commercial aircraft. The commercial aircraft is expected to showcase significant growth rate due to the increase in aircraft deliveries across the globe to support rising passenger traffic. For instance, in 2017, Boeing accounted for 763 commercial aircraft deliveries with 912 net orders and 5,864 backlogs, positively influencing the aircraft gaskets market penetration till 2024.

Based on material, the aircraft gaskets market place is categorized into conductive, polymer, composites, and metal. The increasing adoption of composites for aircraft gaskets is attributed to the enhanced benefits offered by the material including lower weight and improved durability. Further, the lower thermal conductivity of the material along with superior corrosion resistance over the counterparts is further proliferating the segment share over the study timeframe.

Based on distribution channel, the aircrafts gaskets market place is segmented into OEM and MRO. The increasing MRO activities owing to replacements and maintenance of ageing fleet is supporting the industry growth over the forecast timeframe. Improvements in supply chain management along with easier availability of spare components owing to multiple sourcing alternatives is further augmenting the market proliferation over the forecast timeframe.

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Industry participants are continuously investing in R&D for introducing gaskets with advanced features including improved fireproofing and reduced component weight, positively influencing the aircraft gaskets market expansion till 2024. For instance, in 2015, Freudenberg-NOK launched an innovative material for gaskets with weight savings up to 20 percent compared to the existing materials.

Advancements in gasket manufacturing techniques owing to the requirement for producing reliable and durable components for usage across diversified and extreme situations is providing a positive outlook for the industry expansion. Requirement for high precision and lean manufacturing techniques along with higher costs associated with machineries for gasket production may hamper the industry growth till 2024. However, industry participants are continuously engaged in R&D for manufacturing gaskets with 3D printing technologies, positively influencing the aircraft gaskets market penetration over the projected time period.

Stringent government regulations mandating the regulation inspection of the aircraft components for ensuring aircraft safety is providing a positive outlook for the aircraft gaskets market augmentation over the projected timeframe.

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Few aircraft gaskets market players include Meggitt Plc, Esterline technologies corporation, compagnie de Saint-Gobain S.A., SKF Group, Eaton corporation, Freudenberg Group, and Hutchinson SA. Industry participants are engaged in agreements and strategic partnerships with aircraft manufacturers for improving their market share.

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