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Aircraft Aerodynamic Seals Market I Stratview Research | Covid-19 Impact Analysis
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy 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.
The strategic assessment report, from Stratview Research, is another flagship research report in the seals family. After publishing a report on the aircraft seals market, Stratview Research has come up with another exclusive market report on the aircraft aerodynamic seals market. The report provides the thoroughgoing market analysis by providing the 12-year analysis (trend period: 2014-2019 and forecast period: 2020-2025) at the global, regional, and country-level. Also, the report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Aircraft Aerodynamic Seals Market: Highlights
Seals are used in the multiple areas of an aircraft in order to serve a wide array of functions including aerodynamics, fire resistance, conduction, insulation, and air and fluid handling. Aerodynamic seals are the most widely used in an aircraft and account for almost half of the total aircraft seals market. Seals have witnessed a remarkable transition in the aircraft industry over the eons concerning materials, designs, processes, certifications, and many other factors. Today, manufacturing seals for the aircraft industry for many functions including aerodynamics is a convoluted job, a key factor limiting the number of companies active in the aircraft seals market.
The aircraft aerodynamic seals market declined marginally from 2018 to 2019, mainly due to the industry concerns including fading air traffic growth, the ongoing 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. The rapid spread of the pandemic entirely flipped the entire market dynamics, deepening the existing industry challenges including delays in B737 max approval and forcing aircraft manufacturers to curtail their key aircraft production. As a result of that Stratview Estimates suggest that the market for aircraft aerodynamic seals register a hefty decline in 2020, taking the market below the level of 2014.
To assess the real impact of the pandemic on the aircraft aerodynamic seals market in short term and long term is extremely challenging at the present scenario as the pandemic is still spreading, taking the major economies in its grip and deteriorating the market conditions. It is difficult to state that when the impact of the pandemic starts to fade away. However, it is anticipated that the aviation industry will log a V-shape curve similar to previous pandemics, such as SARS (2003) and MERS (2015). However, the curve of V-shape would be deeper than the ones registered in SARS and MERS with huge short-term repercussions.
The long-term outlook still seems positive for the industry including the aircraft aerodynamic seals market. The market for aircraft aerodynamic seals is subjected to gradually recover from 2021 onwards, driving the market to the estimated value of US$ 0.44 billion in 2025, with an overall long-term positive growth.
Stratview has firstly segmented the aircraft aerodynamic seals market based on the aircraft type as commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. Commercial aircraft are expected to remain the largest segment of the aircraft aerodynamic seals market in years to come. The aircraft segment registered a huge change in market dynamics in before COVID and post-COVID pandemic conditions.
IATA’s estimates on December 2019 (Pre-COVID 19) suggested a positive 4.1% growth in RPKs in 2020, whereas the latest estimates (April 14, 2020) of the organization address the possible impact of the pandemic in the airline industry and reveal a mammoth decline of 48% in RPKs worth US$ 314 billion in 2020, a clear sign of gloomy market conditions in near future. 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 aerodynamic seals market is segmented as airframe, flight control surfaces, landing gears, wheels, and brakes. The airframe is expected to remain the biggest source of demand for aerodynamic seals in years to come. The large surface area of airframe coupled with a greater need for aerodynamics is manly behind its dominance. Lightweight, low friction, durable, and resistance to hydraulic fluids are key requirements for airframe aerodynamic seals.
Based on the material type, the aircraft aerodynamic seals market is segmented as polymer seals, metal seals, and composite seals. Polymer seals are expected to remain the largest segment of the market over the next five years. Elastomers dominate the polymer seals segment. Key elastomer types are NBR, FKM, EPDM, HNBR, FVMQ, FFKM, and Silicone Rubber (Q); among which silicone rubber is the most widely used elastomeric material for aerodynamic seals.
In terms of regions, North America is expected to remain the largest market over the next five years. Despite a huge decline in the North American market, the worst affected region of the pandemic, the region is estimated to manage its lead in the global market in the coming five years, primarily because of a strong supply chain in the USA. The Asia-Pacific region to record the least decline among all regions in 2020, followed by the quickest recovery from the second half of 2020, driving the highest growth in the coming five years.
The supply chain of this market comprises raw material suppliers, aircraft aerodynamic seal manufacturers, distributors, tier players, aircraft OEMs, and airlines. The key aircraft aerodynamic seals manufacturers are Meggitt PLC, Hutchinson SA, Trelleborg AB, TransDigm Group, Freudenberg Group, Applied Composites Group, Eaton Corporation, Parker-Hannifin Corporation, Saint Gobain, SKF Group, Greene Tweed, and EnPro Industries.
Some of the Recent Merger & Acquisition and Strategic Alliances in the market:
The market’s attractiveness has led to a series of acquisitions by big players acquiring small players leading to greater market consolidation.
This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. About 15 detailed primary interviews with the market players across the value chain in all major regions and industry experts have been executed 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 aerodynamic seals market is segmented into the following categories.
Aircraft Aerodynamic Seals Market, By Aircraft Type
Aircraft Aerodynamic Seals Market, By Application Type
Aircraft Aerodynamic Seals Market, By Material Type
Aircraft Aerodynamic Seals Market, By Motion Type
Aircraft Aerodynamic Seals Market, By Region
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