CHICAGO, June 8, 2023 /PRNewswire/ — The aircraft seals market size is projected to grow from an estimated USD 3.1 billion in 2023 to USD 3.8 billion by 2028, at a CAGR of 4.1% during the forecast period according to a new report by MarketsandMarkets™. This growth can be attributed to the increasing aircraft fleets globally and increasing passenger comfort and experience.
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Browse in-depth TOC on “Aircraft Seals Market”
403 – Tables
43 – Figures
288 – Pages
Aircraft Seals Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$3.1 billion |
|
Estimated Value by 2028 |
$3.8 billion |
|
Growth Rate |
Poised to grow at a CAGR of 4.1% |
|
Market Size Available for |
2019–2028 |
|
Forecast Period |
2023–2028 |
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Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Type, Application, Material, End Use, Aircraft Type and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Key Market Challenge |
Issues associated with quality accreditations |
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Key Market Opportunities |
Developments in additive manufacturing technology |
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Key Market Drivers |
Increase in global aircraft fleet size to increase demand for seals from OEM & Aftermarket |
The Aftermarket segment accounts for the largest market size during the forecast period.
The lifespans of the primary components they are put on, like engines or landing gear, and the lifespans of aircraft seals frequently diverge. In some cases, seals need to be replaced more frequently than the primary components they seal because of wear, exposure to harsh environments, or adjustments in operational needs. As a result, throughout an aircraft’s lifespan, there is a continuing need for seals, which keeps the aftermarket industry busy.
The commercial aviation segment is projected to grow at the highest CAGR during the forecast period.
Commercial aviation makes for a significant sector of the worldwide aerospace industry, with passenger aircraft in great demand. As more people fly for business, pleasure, and tourism, there is an ongoing demand for new commercial aircraft to accommodate the increasing passenger traffic. This increases the demand for aircraft seals in the commercial aviation industry.
The composite segment accounts for the largest market size during the forecast period.
Based on material, the aircraft seals industry is segmented into composites, polymers, and metals. The aircraft seals market is estimated to be dominated by the composites segment, with a market share of 51.8% in 2023. Composite materials are well-known for having a high strength-to-weight ratio. They have high strength and rigidity while being much lighter than typical materials like metals. The use of composite materials in aircraft seals can lower overall weight, resulting in fuel savings and increased aircraft performance.
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Asia Pacific is projected to grow at the highest CAGR during the forecast period.
The aircraft sector in the Asia-Pacific area has grown significantly, propelled by reasons like rising disposable incomes, increased air travel demand, growing middle-class population, and continued urbanization. This expansion has raised the region’s need for aircraft seals and led to higher aircraft manufacturing and fleet expansion.
Major players operating in the aircraft seals companies include Saint Gobain (France), Trelleborg AB (Sweden), Parker Hannifin (US), SKF (Sweden), and Eaton Corporation (Ireland), among others.
These key players offer aircraft seals across regions and have well-equipped and strong distribution networks across the North American, European, Asia Pacific, Middle East, African, and Latin American regions.
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