Aircraft Fabricated Seals Market Report
Aircraft Fabricated Seals Market is Segmented by Aircraft Type (Commercial Aircraft, Regional Aircraft, Helicopters, Military Aircraft, and General Aviation), by Application Type (Airframe, Nacelles & Engines, Landing Gear, Wheels & Brakes, and Others), by Motion Type (Static Seals and Dynamic Seals), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, Rest of the World).
Aircraft Fabricated Seals Market is Segmented by Aircraft Type (Commercial Aircraft, Regional Aircraft, Helicopters, Military Aircraft, and General Aviation), by Application Type (Airframe, Nacelles & Engines, Landing Gear, Wheels & Brakes, and Others), by Motion Type ...
Impact of COVID-19 on Aircraft Fabricated Seals Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Fabricated seals are majorly airframe profile seals fabricated into various shapes and sizes to improve an aircraft's aerodynamic efficiency. These fabricated seals are manufactured through either hand-fabrication, pull-thru, and strip-mold processes with greater precision over detail and quality-assured through 100% inspection to offer reliability in service and efficiency in assembly and maintenance. Advancements in processing technologies, such as increasing usage of advanced finite element analysis combined with product qualification programs, are likely to further create huge potential in the market in the years to come.
The aircraft fabricated seals market blossomed at a healthier pace till 2018. In 2019, the market registered a marginal downfall due to the grounding of the B737 max and delays in market entries of the most awaited programs, such as COMAC C9191, Irkut MC-21, and Boeing B777x. While the industry was expecting a quick recovery in the demand for fabricated seals in 2020; but, the rapid spread of the pandemic entirely flipped the entire market dynamics, deepening the existing industry challenges including delays in B737 max re-approval. Ultimately, the pandemic forced the leading aircraft manufacturers to curtail their key aircraft production rates. As a result of that, Stratview Research estimates that the market for aircraft fabricated seals registered a hefty decline of -27.5% in 2020.
The long-term outlook still seems fruitful, well backed by the industry’s strong fundamentals. The lift of Boeing’s B737Max in October 2020, gradual opening up of travel restrictions, and rebounding aircraft deliveries are among the few key factors signaling towards the industry’s take off to a healthy recuperation, helping the aircraft fabricated market stakeholders to recoup at a propitious rate of 8.8% to reach US$ 0.95 Billion in 2026.
Based on the aircraft type, the aircraft fabricated seals market is segmented as commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. Despite a gradual decline in 2020, commercial aircraft is expected to remain the largest and the fastest-growing segment of the market during the forecast period. Stringent regulations regarding CO2 emission and high demand for fuel-efficient and lightweight aircraft, market entry of new players, such as COMAC and Irkut, rebounding aircraft deliveries, and resumption of B737Max are some of the key factors propelling the demand for fabricated seals in the commercial aircraft segment.
IATA’s estimates on December 2019 (Pre-COVID 19) suggested a positive 4.1% growth in RPKs in 2020, whereas the latest estimates (December 2020) of the organization address the possible impact of the pandemic in the airline industry and reveal a mammoth decline of 66% in RPKs equivalent to a loss of US$ 418 billion of airline passenger revenues in 2020. Despite all breath-taking market conditions, the long-term outlook still seems positive with good opportunities lying in the industry once the headwinds of the pandemic turn into tailwinds. Huge order backlogs of Boeing and Airbus, asserting them to produce aircraft for more than seven years at the current production rate.
Based on the application type, the aircraft fabricated seals market is segmented as airframe, nacelles & engines, landing gear wheels & brakes, and others. The airframe segment is expected to remain most dominant, whereas landing gear wheels & brakes to be the fastest-growing segment of the market during the forecast period. The large surface area of the airframe with the need for better aerodynamics and drag reduction is the major factor behind the dominance of airframe applications in the market.
Based on the motion type, the market is segmented as static seals and dynamic seals. Static seals are expected to remain the larger and faster-growing segment of the market during the forecast period. Frequent overhaul of dynamic seals is the major factor behind the higher growth of dynamic seals in the market.
In terms of regions, North America is expected to remain the largest market for aircraft fabricated seals during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the fabricated seals' suppliers have their presence in the region to address the emergent needs of OEMs for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Asia-Pacific is likely to witness the highest growth during the same period. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus for multiple aircraft programs, increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous aircraft C919.
The supply chain of this market comprises several nodes including raw material suppliers, seals manufacturers, tier players, aircraft and engine OEMs, airlines, aircraft leasing companies, and MRO companies. The following are the key players in the aircraft fabricated seals market.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft fabricated seals market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our Aircraft Seals market report from the industry stakeholders, we have tried to further accentuate our research scope to the aircraft fabricated seals market in order to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants and investors in identifying the low-hanging fruits available in the market and formulating the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The aircraft fabricated seals market is segmented into the following categories.
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The aircraft fabricated seals market is estimated to grow at a healthy CAGR of 8.8% by 2026.
Trelleborg Group, Freudenberg Group, Hutchinson SA, Eaton Corporation, EnPro Corporation, Meggitt Plc, Parker-Hannifin Corporation, Saint Gobain, SKF Group, TransDigm Group are among the key players in the aircraft fabricated seals market.
North America is estimated to remain dominant in the aircraft fabricated seals market in the foreseen future.
The aircraft fabricated seals market size is expected to reach US$ 0.95 Billion in the foreseeable future.
Commercial aircraft is expected to remain the largest aircraft in the aircraft fabricated seals market in the coming years.
The airframe segment is expected to remain dominant application type in the aircraft fabricated seals market in the next five years.
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