DUBLIN, Aug. 11, 2023 /PRNewswire/ — The “Global Aircraft Seals Market Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global aircraft seals market is projected to experience substantial growth over the forecast period, with an expected CAGR of 4.1%. The market is predicted to expand from USD 3.1 billion to reach USD 3.8 billion by 2028. The growth can be attributed to several factors, including increased aviation traffic, a focus on fuel efficiency, technical advancements, and regulatory regulations. Manufacturers, OEMs, MRO service providers, and other stakeholders need to strategize effectively to capitalize on the expanding opportunities in this evolving aircraft seals market.
Increase in Global Aircraft Fleet Size Driving Demand for Seals
With the rise in global air passenger traffic, the number of aircraft is increasing steadily. Airbus, for instance, plans to augment production of its A320 aircraft family to 45 per month by the end of 2021, and further increase it to 64 per month by the 2nd quarter of 2023 and 70 per month by 2024. Additionally, there has been an increase in the production of military aircraft as countries like the US, China, India, Russia, and the UK ramp up their military expenditure. Moreover, the growth in international trade between countries has led to an increase in the frequency of cargo airplanes. As aircraft fleets grow, the demand for seals, which play a crucial role in various systems and aerostructures, will also rise. Consequently, the OEM market for aircraft seals is expected to witness substantial growth in tandem with the increasing demand for new aircraft.
Engine Seals Segment Dominates the Market
The aircraft seals market is segmented based on applications into engine systems, landing gear systems, airframes, avionics & electrical system, and flight control & hydraulic system. Among these, the engine systems segment is projected to hold the largest market share during the forecast period. Aircraft seals are integral components in engine systems, used in various engine components like fan blades, fan cowl/thrust reverser doors, heat exchangers, driveshafts, fuel management systems, and air intakes. The smooth operation of aircraft engines relies on these critical engine systems, and the use of aircraft seals is crucial to maintaining system integrity and preventing oil leakages.
Composites Segment Shows High Growth Potential
The market is segmented by material into composites, polymers, and metals. The composites segment is expected to lead the aircraft seals market during the forecast period due to the growing demand for lightweight seals in new aircraft. Composite materials offer high resistance to heat, robustness, and excellent tensile strength, making them a preferred choice for seal manufacturers. On the other hand, the metals segment is projected to register the highest CAGR during the forecast period, attributed to the increasing use of aircraft seals in aircraft engines and other high-temperature applications.
Dynamic Seal Segment Dominates the Market
Based on type, the aircraft seals market is segmented into dynamic seals and static seals. The dynamic seals segment is estimated to account for a larger share of the market in 2028. These seals find application in various aircraft components and systems and play a critical role in maintaining system integrity and preventing leakages.
Asia Pacific Emerges as a Key Growth Region
The Asia Pacific (APAC) region is anticipated to witness the highest CAGR in the aircraft seals market. Countries like China and India are making significant investments in aircraft seals to enhance their technological capabilities. With projected GDP growth, these developing countries offer considerable potential for the market. China, in particular, has attracted substantial foreign investments due to its stable growth and robust economic developments.
Major Players in the Market
The major players operating in the aircraft seals market include SKF (Sweden), Parker Hannifin Corporation (US), Trelleborg Sealing Solutions (Sweden), Eaton Corporation PLC (Ireland), and Saint-Gobain (France).
Conclusion
The aircraft seals market is set for significant growth due to increased air passenger traffic, rising global aircraft fleet size, and advancements in materials and technology. The engine systems segment and composites material segment are likely to dominate the market. Asia Pacific is expected to be a key growth region. Stakeholders in the aviation sector need to strategize and align their efforts to capitalize on the expanding potential in the aircraft seals market.
Market Dynamics
- Drivers
- Increase in Global Aircraft Fleet Size
- Frequent Replacement of Aircraft Seals
- Restraints
- High Manufacturing Costs of Aircraft Seals
- Opportunities
- Rising Adoption of Lightweight and Durable Seals
- Developments in Additive Manufacturing Technology
- Challenges
- Issues Associated with Quality Accreditations
Premium Insights
- Increase in Global Aircraft Fleet Size to Drive Market from 2023 to 2028
- Commercial Aviation to Dominate Market During Forecast Period
- Aftermarket End-Use to Dominate Market During Forecast Period
- China to be Fastest-Growing Market from 2023 to 2028
Other Key Insights
- Value Chain Analysis
- Volume Analysis
- Ecosystem Mapping
- Trends/Disruptions Impacting Customer Business
- Porter’s Five Forces Analysis
- Trade Data Analysis
- Tariff and Regulatory Landscape
- Case Study Analysis
- Technology Analysis
- Key Conferences and Events, 2023
- Tariff and Regulatory Landscape
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Aircraft Seals Market, by Type
8 Aircraft Seals Market, by Material
9 Aircraft Seals Market, by Aircraft Type
10 Aircraft Seals Market, by Application
11 Aircraft Seals Market, by End-Use
12 Aircraft Seals Market, by Region
13 Competitive Landscape
14 Company Profiles
- Brown Aircraft Supply
- DP Seals
- DuPont
- Eaton Corporation PLC
- Emi Seals & Gaskets
- Freudenberg Sealing Technologies
- Hutchinson
- Icon Aerospace Technology
- Jacottet Industrie
- Kirkhill, Inc.
- Nicholsons Sealing Technologies Ltd.
- Northwest Rubber Extruders, Inc.
- Parker Hannifin Corporation
- Performance Sealing Inc.
- PPG Aerospace
- Precision Polymer Engineering Ltd.
- Rexnord Corporation
- Saint-Gobain
- Seal Science, Inc.
- SKF
- Stacem
- Stein Seal Company
- Technetics Group
- Trelleborg Sealing Solutions
- W. L. Gore & Associates, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xzy9gn
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