Aircraft O-Rings Market is Forecasted to Reach US$ 174 million in 2032, Says Stratview Research

The global aircraft O-rings market is projected to witness a growth rate of 3.2% annually from 2024 to 2032, with an anticipated size of US$ 174 million by 2032, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global aircraft O-rings market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2032: US$ 174 million
Growth (CAGR): 3.2% during 2024-2032
Forecast Period: 2024-2032
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 6
Number of Tables & Graphs: 100+

Segment Insights on the Aircraft O-Rings Market:
The global aircraft O-rings market is segmented based on aircraft type, application type, material type, motion type, end-user type, and region.

Based on aircraft type - The market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. Commercial aircraft are expected to remain dominant as well as the fastest-growing segment in the coming years. The commercial aircraft segment is being driven by increasing aircraft deliveries, fleet size, and new efficient variants of existing aircraft. Airbus forecasts a demand for 32,630 single-aisle and 8,220 wide-body aircraft over the next 20 years. Military aircraft is the second-largest aircraft category. The aircraft type is driven by increasing defense expenditure. Global defense spending rose to US$ 2.1 trillion in 2023. Large increases were recorded in Europe, Asia Oceania, and the Middle East.

Based on the application type - The market is segmented into nacelles & engines, interiors, landing gear, wheels and brakes, flight control actuation and hydraulics, and others. Interiors is expected to remain the dominant application of the market during the forecast period. High use of static seals in aircraft interiors leads to higher adoption of O-rings. O-rings used for aircraft interiors must address key properties such as fire retardancy and aesthetically pleasantness. Strict fire safety regulations in aircraft interiors necessitate O-rings that meet specific flame retardancy standards. While some elastomers can be treated for fire resistance, other materials like certain thermoplastics might offer inherent fire-retardant properties.

Based on the material type - The market is segmented into elastomeric seals [NBR, FKM, and FFKM], thermoplastic seals [PTFE and PEEK], and metallic seals.
Elastomer seals are expected to remain the most dominant material type in the market during the forecast period. Elastomer O-rings offer a gamut of advantages including high-and-low-temperature operating conditions, greater flexibility, excellent corrosion resistance, and insulative properties. Thermoplastic seals are likely to grow at the fastest pace, driven by their greater acceptance in high-performance applications owing to their excellent resistance against abrasion, wear, extrusion, and temperature. The Russo-Ukrainian war led to several changes in the market dynamics, especially at the raw material level. The ban on imports from Russia after the war led to an acute increase in the price of all Russian-dependent materials, whose tremor was felt across the value chain including aircraft O-rings.

Based on the end-user type - The market is segmented into OE and aftermarket.
OE is expected to hold the larger share of the market, whereas aftermarket is expected to be the faster-growing segment of the market during the forecast period. All the aircraft categories are likely to contribute to the OE segment in the coming years owing to increasing production rates to meet mounting order backlogs.Airbus forecasts demand for freighter aircraft is expected to reach 2,510 over the next 20 years, with ~920 newly built. Higher growth is expected in the aftermarket level in the next two years, driven by higher investments by airlines in MRO activities to bring parked aircraft back into the active fleet. On average, 2% to 3% of the commercial jet fleet is replaced every year.

To know the most attractive segments, visit:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market during the forecast period. This growth outlook is majorly attributed to the following-
- North America has a huge commercial aircraft fleet size. It is the preferred manufacturing hub of the aerospace industry. The presence of many aircraft and engine OEMs, such as Boeing, Bombardier, Gulfstream Aerospace Corporation, GE Aerospace, and Pratt & Whitney.
- The USA drives North America's market, The region's technological advancements, huge R&D investments, and stringent environmental regulations have led to the adoption of sustainable and advanced O-rings.
- Approximately, 80% of the world's regional jet fleet is based in North America. In 2022, +2,100 regional jets were in service in North America and Europe.
- Despite several setbacks faced by Boeing over the past three years, North America still manages its gigantic lead in the market. Airbus has been increasing its supply chain in North America, including a rise in the aircraft assembly. Whereas Boeing is focusing more on its quality.
- China, India, and Japan to impact Asia-Pacific's market. India's fleet will add aircraft at a rate of almost 13% over the first five years and nearly 10% for the 10-year forecast period.

Aircraft O-Rings Market Drivers:

Some of the key drivers listed in the report are given below.
- The expected rise in the production rate of key programs [A220, A320neo family, A350XWB, B737Max, and B787], entry of new programs [C919, B777x, etc.], and growing aircraft fleet.
- Changing geopolitical conditions, supply chain disruptions and labor shortages are affecting the aerospace industry's recovery.
- The impact of this has been felt across the value chain, including in the aircraft O-rings business.

Top Companies in the Aircraft O-Rings Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• EnPro Industries
• Freudenberg Group
• Greene Tweed & Co., Inc.
• Hutchinson SA
• Parker-Hannifin Corporation
• Saint-Gobain S.A.
• Trelleborg AB

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Aircraft O-Rings Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.