Aircraft Seals Market is estimated to reach US$ 1,107.2 million in 2024

Launching announcement of a new research report on Aircraft Seals Market which is projected to reach US$ 1,107.2 million in 2024- forecasted by Stratview Research. The study provides an in-depth analysis by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, and Military Aircraft), by Application Type (Engine, Airframe, Interior, Flight Control Surfaces, Landing Gear, Wheels & Brakes, and Others), by Motion Type (Static Seals and Dynamic Seals), by Function Type (Aerodynamic Surface Seals, Air and Fluid Handling Seals, Fire Seals, Conductive Seals, Insulative Seals, and Others), by Material Type (Polymer Seals, Metal Seals, and Composite Seals), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

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Aircraft Seals Market: Highlights

The growth of the aircraft seals market will continue to be resilient with attractive opportunities for the market participants situated across the value chain. Undoubtedly, aircraft is one of the fastest-growing applications in the overall seals market; however, it is not that easy for seal manufacturers to serve the aircraft industry as the industry demands players to be exceptionally innovative with excellent product development capabilities and having eons of excellent track record. Also, it is paramount importance for seal manufacturers to remain proximal to tier players as well as aircraft OEMs in order to address their emergent needs.

The market for seals in the aircraft industry is estimated to reach US$ 1,107.2 million in 2024. Several factors bolstering the demand for seals in the aircraft industry in which some of them are driving the overall aerospace industry with a positive impact on the demand for seals and some of them are driving seals only. Among all, the key growth factors are increasing production rates of the key aircraft programs, such as B737, B787, A320, and A350XWB; introduction of the fuel-efficient aircraft variants, such as B777x and A330neo; increasing demand for lightweight aircraft seals; and rising global aircraft fleet size.

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Major seal manufacturers serving the aircraft industry have been reinforcing their share by performing both organic as well as inorganic growth strategies. For instance; TransDigm Group Incorporated acquired Kirkhill Engineered Elastomer Business of Esterline Corporation for a total purchase price of US$ 50 million.

The aircraft seals 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 growth engine of the aircraft seals market during the forecast period of 2019 to 2024. Increasing commercial aircraft deliveries to support rising passenger traffic, the introduction of fuel-efficient next-generation aircraft (B777x, A330neo, B737 Max, and A320ne0), increasing demand for lightweight seals, and rising commercial aircraft fleet size across regions are the key factors propelling the demand for seals in the segment.

Boeing anticipated that there would be total deliveries of 40,410 commercial aircraft worth US$ 6.25 trillion in the global marketplace during 2018-2037. Asia-Pacific and Europe would be the biggest demand generators with a combined share of 64.7% of the total commercial aircraft deliveries during 2018-2037. An expected healthy CAGR of 4.7% in air passenger traffic during 2018-2037 will chiefly drive the demand for commercial aircraft. This factor will create sustainable demand for aircraft seals globally in the foreseeable future.

In addition to that, Boeing and Airbus had a combined total order backlog of 13,048 commercial aircraft by the end of 2018. These huge pile of order backlogs of commercial aircraft will allow both airframers to roll out their aircraft continuously for the next eight to ten years at current build rates. To cope with such huge order backlogs, they have strategically been raising the production rates of their key commercial aircraft programs in order to deliver aircraft to their widespread clients at a shorter period of time. Also, they 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. This factor will further assure sustainable demand for aircraft seals in the foreseeable future.

Based on the application type, the global aircraft seals market is segmented as Engine, Airframe, Interior, Flight Control Surfaces, Landing Gear, Wheels & Brakes, and Hydraulics and Actuation. Engine System is expected to remain the most dominant application segment of the aircraft seals market during the forecast period of 2019 to 2024. Seals are used in a wide spectrum of engine applications including engine and pylon seals, thrust reverser seals, bleed air seals, fire seals, air inlet screens, vane grommets elastomeric gaskets, shaft seals, and O-rings.

Based on the material type, the aircraft seals market is segmented as Polymer Seals, Composite Seals, and Metal Seals. The polymer seal is expected to remain the largest segment of the global aircraft seals market during the forecast period, whereas composite seal is expected to witness the highest growth during the same period. There has been an incessant replacement of metal seals with composite seals, owing to their excellent strength-to-weight ratio at a relatively low weight.

Based on the regions, North America is expected to remain the largest aircraft seals market during the forecast period, whereas Asia-Pacific is expected to experience the highest growth during the same period. The highest growth of aircraft seals in Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; opening of assembly plants of Boeing and Airbus for the 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). China, Japan, and India will be the growth engines of the region’s market in coming years.

The supply chain of this market comprises raw material suppliers, aircraft seal manufacturers, distributors, aircraft manufacturers, airline companies, aircraft leasing companies, and MRO companies. The key aircraft seal manufacturers are Hutchinson SA, Trelleborg AB, Meggitt Plc, TransDigm Group Incorporated (Kirkhill), and Freudenberg Group. Development of optimized aircraft seals, regional expansion, and mergers & acquisitions are the key strategies adopted by the key players to gain a competitive edge in the market.

Report Features

The report provides diverse market intelligence with maximum business value. It gives a condemnatory understanding of the market dynamics and enables strategic decision making for the existing market players as well as those willing to enter the market. The key features include the
->industry life cycle and the supply chain analysis of the market structure.
->SWOT analysis, Porter's five forces analysis and Growth Drivers and constraints.
->Market trend and the forecast analysis.
->Forecast of the market segment trend.
->Competitive landscape and dynamics of Market share, product portfolio, product launches, etc.
->Emerging trends of attractive market segments and associated growth opportunities
->Strategic growth opportunities for the existing and new players.
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This release was published on openPR.