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    Aircraft Elastomers Market | Covid-19 Impact Analysis

    Aircraft Elastomers Market | Covid-19 Impact Analysis

    Aircraft Elastomers Market | Covid-19 Impact Analysis
    Report code - SRAD178 Published On : Jul,2020 No. of Pages: 230
    Aircraft Elastomers Market Size, Share, Trend, Forecast, & Competitive Analysis: 2020- See more...
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    Impact of COVID-19 on Aircraft Elastomers Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Aircraft Elastomers Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. 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.

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Aircraft Elastomers Market realities and future market possibilities for the forecast period of 2020 to 2025. After a continuous interest in our aircraft aerodynamic seals, aircraft engine seals, and aircraft seals market report from the industry stakeholders, we have tried to further accentuate our research scope to the Aircraft Elastomers Market in order to provide the most crystal-clear picture of the market.

    The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for aircraft elastomers at the global, regional, as well as country level. Also, the report provides the possible loss that the industry may register by comparing pre-COVID and post-COVID scenario.

    The report segments and analyzes the market in the most detailed manner 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.

    The Aircraft Elastomers Market: Highlights

    Loosely cross-linked polymers which possess the property of elasticity are called elastomers. The significant property that sets them apart is their ability to recover after deformation in compression or tension. They have a low Young’s modulus and high yield strain as compared to other materials. Elastomers are relatively soft and deformable at ambient temperatures owing to their amorphous nature. They can exist above their glass transition temperature, resulting in a possibility of considerable segmental motion. Elastomers can be thermosets (requiring a form of crosslinking called vulcanization) or thermoplastic (called TPE or thermoplastic elastomer). In the aircraft industry, elastomers are majorly used in the form of seals, gaskets, and hoses & tubes for applications such as airframe; propulsion; interior; landing gear, wheels, and brakes; and hydraulic and actuation.

    The aircraft industry was hoping to recover from some of its existing burning challenges (such as B737 Max grounding, P&W 1100G engine series failure, and delayed deliveries of upcoming aircraft programs), but the rapid spread of COVID-19 exacerbated the situation, negatively impacting the entire supply chain. The year 2020 is likely to be unsettling for the aircraft industry with the reduction in aircraft demand, order cancellations, temporary production halts, and huge revenue losses. However, the industry is well acquainted with managing crisis and is likely to emerge from the current grim situation, by adopting pragmatic strategies and a robust business approach.

    Despite the current prevailing adversity, the long-term outlook still seems favorable with rebounding growth opportunities across regions. The market for aircraft elastomers is likely to reach a value of US$ 186.0 million in 2025. Post taking a nose-dive in 2020, the demand for elastomers is likely to plateau in 2020, followed by sequential growth till 2025, assisting the market to hit back its 2019-market by value within the forecast period.

    Boeing in its 2019-2038 outlook, anticipated the total new commercial and regional aircraft deliveries to be 44,040 aircraft units during 2019-2038. Similarly, Airbus anticipated the 39,210 commercial and regional aircraft deliveries during the same period. Also, with rapidly changing requirements and regulations for fuel efficiency, there has been increasing pressure on aircraft OEMs as well as tier players from airlines to act at the root cause and opt for lightweight and durable materials. Hence, aircraft OEMs along with tier players are advancing different structures and parts by either improving the design or incorporating lightweight materials in order to make the aircraft lighter resulting in less fuel consumption. Elastomers prove to be an excellent choice for manufacturing seals and gaskets as they offer excellent properties such as lightweight, moldability, and low-temperature performance, which align with the current market requirements.

    Numerous other factors would further substantiate the demand for aircraft elastomers in the long run such as an expected increase in commercial aircraft fleet size coupled with aging aircraft fleet size and advancing fire test standards. According to the fire test requirements in FAA Advisory Circular 20-135, a part or material must withstand fire at 2,000°F (1,093°C) for fifteen minutes. In order to better align with the actual conditions in an aircraft fire, test procedures are changing for the better. The market players need to pull up their socks, keeping up with the rapidly advancing flammability testing standards for aerospace applications.

    The aircraft elastomers market is segmented based on the platform type as commercial aircraft, regional aircraft, general aviation, military aircraft, and helicopter. Commercial aircraft is expected to remain the largest as well as the fastest-growing segment of the market during the forecast period, well backed by strong order backlogs of the best-selling aircraft programs, such as B737 and A320 including their variants and upcoming aircraft programs, such as C919 and MC-21. The commercial aircraft segment to witness a huge decline in 2020, mainly due to the pandemic and delays in approval of the B737 Max.

    Based on the material type, the market is segmented as ethylene propylene diene monomer (EPDM), silicone, fluoroelastomers, nitrile rubber (NBR), polychloroprene or neoprene (CR), and others. Silicone is expected to remain the most dominant material type in the market during the forecast period, propelled by its outstanding properties. Silicones possess excellent properties such as high heat tolerance; resistance from aging, ozone, weathering, and sunlight (UV); good oxidative stability; and outstanding low-temperature flexibility. Significant advancements in the silicone polymer technology have resulted in the development of lighter grades as compared to existing ones. Silicone elastomers are replacing neoprene in many aviation seals as they are up to 15% lighter as compared to neoprene.

    Based on the product type, the market is segmented as seals, gaskets, and others. Seals are likely to remain the most dominant product type in the market, whereas gaskets are likely to remain the fastest-growing product type for the same period. Seals are used across the aircraft in applications such as airframe, propulsion, interior, and landing gear.

    In terms of regions, North America is expected to remain the largest market for aircraft elastomers during the forecast period. The USA is the growth engine of the region’s market with one of the largest fleets of commercial aircraft in the world and the presence of major companies across the supply chain, being the hub of the aerospace industry as well as aircraft elastomers. The region is the early go-getter concerning technology and material adoption. The opening of assembly plants of the A320 and A220 aircraft programs by Airbus in the USA further assures a healthy growth of the market in the region.

    Despite enduring a severe blow in 2020, Asia-Pacific is likely to remain the fastest-growing market during the forecast period. There has been a gradual shift of manufacturing location from the developed regions; North America and Europe, to the developing region, mainly Asia, a prime factor fueling the long-term growth of the market.

    The supply chain of this market comprises raw material suppliers, elastomer manufacturers, seals/gaskets manufacturers, tier players, aircraft OEMs, airlines, aircraft leasing companies, and MRO companies. The key players in the aircraft elastomers market are Trelleborg AB, Meggitt PLC, Kirkhill, Inc., Freudenberg Group, Hutchinson SA, The Dow Chemical Company, Wacker Chemie AG, Solvay SA, Saint Gobain S.A., and The Chemours Company.

    All the major elastomer suppliers have different growth strategies based on their synergies, product portfolio, market reach, geographical presence, and market positioning. However, a high level of forward integration, new product developments, and strategic alliances are some of the key strategies adopted by major players to gain a competitive edge in the market.

    The aircraft elastomers market is gradually heading towards consolidation as the industry recorded a good number of mergers & acquisitions to tap growing opportunities in this briskly expanding market. For instance, in 2018, TransDigm, Inc. acquired Kirkhill, Inc. to enhance its position in the elastomers business. Similarly, in 2016, Trelleborg AB, one of the leading suppliers of elastomer and elastomer seals, acquired a subsidiary of CoorsTek, Inc., expanding its presence in the North American market.

    Research Methodology

    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 2,000 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. 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.

    Report Features

    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:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    The aircraft elastomers market is segmented into the following categories. 

    Aircraft Elastomers Market, by Platform Type

    • Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Elastomers Market, by Elastomer Type

    • EPDM (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Silicone (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Fluoroelastomers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • NBR (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • CR (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Elastomers Market, by Product Type

    • Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Gaskets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Elastomers Market, by Application Type

    • Airframe (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Propulsion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Interior (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Landing Gear, Wheels, and Brakes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Hydraulic and Actuation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Elastomers Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    Frequently Asked Questions (FAQs)

    What will be the growth of the Aircraft Elastomers Market in the foreseeable years?

    Driven by a number of factors like increased production of commercial aircraft & introduction of fuel-efficient aircraft, the aircraft elastomers market is expected to witness an impressive growth of 6.7% CAGR During 2020-25.

    Who are the key players in the Aircraft Elastomers Market?

    Trelleborg AB, Dow Corning Corporation, Shin-Etsu Chemical Co. Ltd., Greene Tweed & Co. Inc., TransDigm Group, Solvay S.A., Lanxess Aktiengesellschaft, Momentive Performance Materials Inc., Saint-Gobain, The Chemours Company, and Wacker Chemie AG. are among the key players in the aircraft elastomers market.

    Which region/country is expected to remain dominant in the Aircraft Elastomers Market?

    North America is likely to remain the most dominant market during the forecast period of 2020-25, driven by the USA.

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