Aircraft Seals Market Report
Aircraft Seals Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026 See less
Aircraft Seals Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026
Aircraft Seals Market is Segmented by Aircraft Type (Commercial Aircraft, Regional Aircraft, Helicopters, Military Aircraft, and General Aviation), by Application Type (Airframe, Nacelles & Engines, Interiors, Landing Gear Wheels & Brakes, Flight Control Actuation and Hydraulics, and Others), by Function Type (Aerodynamic Surface Sealing, Air & Fluid Management Seals, Fire Seals, Conductive Seals, Insulative Seals, and Others), by Material Type (Elastomer Seals, Thermoplastic Seals, and Metal Seals), by Motion Type (Static Seals and Dynamic Seals), and by Region (North America, Europe, Asia-Pacific, Rest of the World)
Aircraft Seals Market is Segmented by Aircraft Type (Commercial Aircraft, Regional Aircraft, Helicopters, Military Aircraft, and General Aviation), by Application Type (Airframe, Nacelles & Engines, Interiors, Landing Gear Wheels & Brakes, Flight Control Actuation and Hydraulics, and Others), by Function Type ...
Seals are used across aircraft systems to prevent any leakage of fluids and to keep air and dirt out of the systems where they are used. They are critically required to be resistive against high temperature and pressure and corrosion effects. The selection of material is dependent on several parameters including temperature resistance, pressure resistance, lightweight, flexibility, durability, strength, etc. Elastomer, thermoplastic, and metal are the major materials used for seals constructions.
The aircraft industry had been flourishing for the past 16 years. The grounding of B737 max across regions in 2019 put a break in the industry’s growth acceleration, whose adverse impact was particularly felt in the North American market. Then, the outbreak of the pandemic deepened the industry challenges with several bankruptcies, huge COVID-related costs leading to negative cash flows, and supply-chain sabotage. All the leading industry stakeholders started focusing on liquidity management by leveraging their available short- as well as long-term cash avenues.
Seals represent a fraction of the total aircraft value but witnessed a massive decline of over 27% in their demand amid the pandemic, crashing the market to well below its 2014-market levels. It is anticipated that the seals market for the aircraft industry is expected to rebound at a healthy pace of over 8% over the next five years to reach an estimated value of US$ 1.7 Billion in 2026.
Boeing anticipated that there would be total deliveries of 43,110 commercial aircraft along with a service market of US$ 9.0 trillion value in the global marketplace during 2020-2039. Asia-Pacific and Europe would be the biggest demand generators with a combined share of 63.9% of the total commercial aircraft deliveries during 2020-2039. An expected recovery in air passenger traffic after the monstrous decline of 65.9% in RPKs globally in 2020 due to the pandemic. The long-term outlook of the aircraft industry still seems propitious with the global RPK is projected to reach 12.2 trillion by 2029 and 18.7 trillion by 2039. This factor will create a sustainable demand for aircraft seals globally in the foreseeable future.
In addition to that, Boeing and Airbus had a combined total order backlog of 11,091 commercial aircraft by the end of June 2021. This huge pile of order backlogs of commercial aircraft will allow both airframers to roll out their aircraft continuously for the next eight to ten years at current build rates. To cope with such huge order backlogs, they have strategically been raising the production rates of their key commercial aircraft programs to deliver aircraft to their widespread clients in a shorter period. Also, they have been introducing the fuel-efficient variants of their best-selling aircraft programs with the purpose to address the biggest requirement of the airline industry, which is the fuel-efficient aircraft. This factor will further assure a sustainable demand for aircraft seals in the foreseeable future.
Based on the aircraft type, the aircraft seals market is segmented as commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. Despite taking a nosedive in 2020, commercial aircraft is expected to remain the largest and the fastest-growing segment of the market during the forecast period. Increasing demand for lightweight yet durable components and parts, market entry of new players, such as COMAC and Irkut, rebounding aircraft deliveries, and restart of B737Max are some of the key factors propelling the demand for seals in the commercial aircraft segment.
Based on the application type, the market is segmented as airframe; nacelles & engines; aircraft interiors; landing gear, wheels & brakes; flight control actuation and hydraulics; and others. Airframe is expected to remain the largest segment of the market during the forecast period. Seals are used in a wide spectrum of airframe applications including aerodynamic sealing of doors, windows, ailerons, spoilers, canopies, hatches, and panels.
Based on the function type, the market is segmented as aerodynamic surface sealing, air & fluid management seals, fire seals, conductive & insulative seals, and others. Aerodynamic surface sealing is expected to remain the most dominant segment, whereas fire seals to be the fastest-growing segment of the market during the forecast period. Aerodynamic surface sealing is used to fill gaps between flight control surfaces and wings of the aircraft where it improves aerodynamics by reducing air friction. Fire seals are used in aircraft nacelle where it contains the fire within an immediate area by denying oxygen entry. Prioritization of the safety and reduction of CO2 emission are some of the key factors, will continue boosting aerodynamics surface sealing and fire sealing markets over the forecast period.
Based on the material type, the market is segmented as elastomer seals, thermoplastic seals, and metal seals. Elastomer is expected to remain the most dominant as well as the fastest-growing material type during the forecast period. An Elastomer is a polymer with viscoelasticity i.e. both viscosity and elasticity. Elastomers are gaining traction in the aircraft industry due to their lightweight, high-temperature resistance, and greater flexibility. High demand for lightweight aircraft is the key factor for the major use of elastomer seals in the aircraft industry.
North America is expected to remain the largest market for aircraft seals during the forecast period in terms of regions. The USA is leading ahead in the market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators in the region. The aerospace industry has most of the suppliers in this region to fulfill the growing demand of OEMs and also to be the partner of upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Asia-Pacific is likely to recoup at the fastest rate, witnessing 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 raw material suppliers, aircraft seal manufacturers, distributors, aircraft OEMs, tier players, airline companies, aircraft leasing companies, and MRO companies. The following are the key players in the Aircraft seals market-
The development of lightweight seals for critical applications, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft seals market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our overall seals market report from the industry stakeholders, we have tried to further accentuate our research scope to the aircraft 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 as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate 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 1000 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 seals market is segmented into the following categories.
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Aircraft seals are components that are used in different parts of the aircraft to prevent leakage of fluid or other substance. It is also used to keep away dirt and air from entering a particular joint. Aircraft seals can be elastomer, thermoplastic, and metals. Engine, Airframe, Interiors, Flight Control Surfaces, Landing Gear, Wheels & Brakes, and Hydraulics, and Actuation are some of the common applications where these seals are used.
Driven by a number of factors like expected recovery in the production rates of the key aircraft programs, the aircraft seals market is projected to reach an estimated value of US$ 1.7 billion in 2026.
Hutchinson SA, Trelleborg AB, Meggitt Plc, TransDigm Group Incorporated (Kirkhill), and Freudenberg Group are the leading players in the aircraft seals market.
North America is estimated to remain dominant in the aircraft seals market in the foreseen future.
Commercial aircraft is expected to remain the largest aircraft type in the aircraft seals market in the coming years.
Airframe is expected to remain the largest segment in the aircraft seals market during the next five years.
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