Press release
Aircraft Seals Market is Expected to Generate a revenue of $3.16 Bn by 2028, surging at a CAGR of 9.0% over the Forecast Period 2024-2033
Aircraft Seals Market Report
The Business Research Company offers in-depth market insights through Aircraft Seals Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The aircraft seals market size has grown strongly in recent years. It will grow from $2.05 billion in 2023 to $2.24 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to rise in air travel, increase in demand for hybrid and electric propulsion aircraft, increasing military spending and rising disposable income.
The aircraft seals market size is expected to see strong growth in the next few years. It will grow to $3.16 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to growing demand for small aircraft, increase in passenger air traffic, growing demand for new fighter jets in developing countries and growing urbanization. Major trends in the forecast period include focusing on the advance sealing products, developing low temperature fluoroelastomer sealing, developing ultra-high temp seal, undergoing partnerships and collaborations, innovation through research and development and strategic investments.
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Market Segmentation:
The aircraft seals market covered in this report is segmented -
1) By Type: Dynamic Seals, Static Seals
2) By Material: Composites, Polymers, Metals
3) By Distribution: OEM, Aftermarket
4) By Application: Engine System, Airframe, Avionics And Electrical System, Flight Control And Hydraulics System, Landing Gear System
5) By End User: Commercial Aircraft, Military Aircraft
Major Driver - Elevated Demand For Hybrid And Electric Propulsion Fuels Growth In Aircraft Seals Market
The increased demand for hybrid and electric propulsion is expected to propel the demand for the aircraft seals market. Aircraft seals are used as a component that fills gaps between mating surfaces on civilian, military, and commercial aircraft. The innovation of modern aircraft configurations with hybrid-electric propulsion reflects the growing demand for environmentally friendly aviation and shorter travel times. These modern aircraft use hybrid and electric aircraft seals to bind assembly applications, which helps reduce the overall weight of aircraft and fuel consumption while ensuring safety. For instance, in April 2021, Airbus created the Ascend program to demonstrate electric or hybrid-electric propulsion, combining liquid hydrogen and superconductive technologies targeting a minimum of 50% reduction in powertrain weight and electrical losses while increasing efficiency by 5-6% compared to conventional technologies. Therefore, the increase in demand and development of hybrid and propulsion aircraft will drive the aircraft seals market.
Competitive Landscape:
Major companies operating in the aircraft seals market report are Parker Hannifin Corporation, Meggitt Plc, Trelleborg Sealing Solutions, Saint Gobain S.A., Eaton Corporation, TransDigm Group Incorporated, Freudenberg Group, Hutchinson SA, SKF Group, Technetics Group, Xiaogan Ruisheng Mech Elec Mfg Ltd, Sealtech.com Aviation Seals Mfg. Ltd, Sealcon, Sujan Industries, EagleBurgmann India, Eagle Industry Co., Precision Polymer Engineering, Safran SA, Micro Seals, International Seal Co Australia (ISCA) Pty Ltd, DuPont de Nemours Inc, Bal Seal Engineering Inc, Regal Rexnord Corporation, PPG Industries Inc, Embraer S.A, LASSAC AERO, Servicio De Mantenimiento Del Peru, Performance Sealing Inc, Advanced Aircraft Seal, SEAL Aviation LLC, Airbus, Bombardier Inc, MDA Corporation, Collins Aerospace, CAE Inc, Rockwell Collins, Eaton Aerospace, Goodrich Aerospace, Parker Industrial, Al Ashrafi Trading Llc, Global Seals Ghana Ltd, Acme Seals Group, GOLDEN SEAL, Erith Group, Arabian Seals Co. Ltd, Al Khobar.
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Top Trend - Rising Popularity Of Advanced Sealing Solutions Shapes Aircraft Seals Market Trends
The use of advanced sealing solution products is a key trend gaining popularity in the aircraft seals market. Major players in the market are focusing on advanced sealing products to improve their product portfolio. For instance, in March 2021, Trelleborg, a Sweden-based engineering group focused on polymer technology, launched Turcon VL Seal II. It provides high-performance sealing in flight control actuators and landing gear shock absorbers. This new generation seal provides improved sealing efficiency, simplified installation, and increased reliability. The product has a unidirectional rod seal for reciprocating movements that is powered by an O-ring. Its novel design combines the Turcon VL Seal's unique back pumping capability by entailing zero' leakage performance, extending service life, and minimizing planned maintenance.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aircraft Seals Market Characteristics
3. Aircraft Seals Market Trends And Strategies
4. Aircraft Seals Market - Macro Economic Scenario
5. Aircraft Seals Market Size And Growth
…..
27. Aircraft Seals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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