Aircraft Elastomers Market Growth Analysis | 2020-2025

Market Insights

The aircraft elastomers market was estimated at USD 172.2 million in 2019 and is likely to grow at a CAGR of 6.6% during 2020-2025 to reach USD 187.9 million in 2025.

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Market Dynamics

Introduction

Aircraft elastomers are materials used in the aerospace industry for various applications that require high-performance sealing and vibration damping, such as seals, O-rings, gaskets, and hoses, etc. Made of synthetic rubber, this material is designed to withstand extreme temperatures, pressure, and exposure to chemicals and other fluids.

Market Drivers

The major factors driving the growth of the aircraft elastomers market are:

• An expected increase in aircraft fleet size: The aviation sector is on a growth trajectory, with the fleet size at the beginning of the year 2023 counted at ~27,400, and leading OEM, Airbus forecasts demand for 39.490 new passenger and freighter aircraft over the next 20 years.
• Aging aircraft fleet size: The aging aircraft comes with several challenges associated with safety, work conditions, etc. that call for replacement. Also, the newer planes are cheaper (fuel-efficient, etc.) and safer (lightweight, etc.) to operate.
• Increasing demand for high-performance and lightweight materials: The aircraft industry is constantly looking for lightweight materials as lightweight is vital for fuel efficiency and to allow an aircraft to carry more weight. Also, the fire test standards are advancing. Fire retardant material regulations and testing are broadly used today just to ensure the safety of the aircraft, as well as of the onboarded passengers and crew members.

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Key Players

The supply chain of this market comprises raw material suppliers, elastomer manufacturers, seals/gasket 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.
• The Chemours Company.

Note: The above list does not necessarily include all the top players in the market.

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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.

Segment Analysis

By Platform Type

The aircraft elastomers market is sgmented 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 is to witness a huge decline in 2020, mainly due to the pandemic and delays in the approval of the B737 Max.

By Material Type

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; the resistance from aging, ozone, weathering, and sunlight (UV); good oxidative stability; and outstanding low-temperature flexibility. Significant advancements in 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.

By Product Type

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 the airframe, propulsion, interior, and landing gear.

Regional Insights

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 for 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.

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Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are 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.

We leverage the multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Features

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 the pre-COVID and post-COVID scenarios.

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 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, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. 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.

The aircraft elastomers market is segmented into the following categories:

By Platform Type

• Commercial Aircraft
• Regional Aircraft
• General Aviation
• Military Aircraft
• Helicopter

By Elastomer Type

• EPDM
• Silicone
• Fluoroelastomers
• NBR
• CR
• Others

By Product Type

• Seals
• Gaskets
• Others

By Application Type

• Airframe
• Propulsion
• Interior
• Landing Gear, Wheels, and Brakes
• Hydraulic and Actuation

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)

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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 to sales@stratviewresearch.com.