Aircraft Gaskets Market Report
Aircraft Gaskets Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026 See less
Aircraft Gaskets Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026
Aircraft Gaskets Market is Segmented by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, and Helicopter), by Application Type (Airframe, Nacelles & Engines, Landing Gear Wheels and Brakes, and Others), by Material Type (Polymer Gaskets, Metal Gaskets, and Conductive Gaskets), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Gaskets are static seals between flat surfaces and are specially designed to withstand cold temperatures, high speeds, and exposure to fluids. Whether it is used in the wing or window, aircraft gaskets will always provide an effective sealing solution and protect against harsh environmental conditions. Gaskets are used in multiple areas of an aircraft to serve a wide array of functions, such as environmental sealing purposes, pressure retaining, vibration damping, fire-resistant or fireproof, and EMI/RFI shielding.
Gaskets in the aircraft industry are exposed to a wide range of challenging and operating conditions, such as high temperature and -pressure, aggressive chemicals, weightlessness, high frequency of oscillation, the threat of fire and explosion. Hence, it becomes necessary to select a sealing material that can handle such harsh and extreme environments. The selection of material is dependent on several parameters including temperature resistance, lightweight, durability, strength, etc. The most commonly used materials for making gaskets in the aircraft industry are metals and polymers. The latter one comprises elastomers, such as silicone, fluorosilicone, polytetrafluoroethylene (PTFE), rubber, and thermoplastics. The aircraft industry represents less than 1% of the total gaskets market but is undoubtedly one of the most promising markets for gaskets in the coming five years.
The Covid-19 has impacted the market dynamics, competition, and sabotage in the supply chain of almost all industries. However, the aircraft industry proved to be one of its biggest victims. All the aerospace industry stakeholders were struggling in managing their liquidity and optimizing their operation in order to sustain in the market in the trying time. Gaskets represent a diminutive share of the gigantic aircraft industry, but this market followed a similar trajectory with a massive drop of -29.3% in their sales in the year 2020, forced the market to below its 2014 levels. After a colossal decline in the year 2020, the global aircraft gaskets market is set to grow at a healthy rate over the next five years to reach a projected figure of US$ 117.0 million in 2026. The organic growth of the aircraft industry may act as the prime growth engine of the market.
The market for aircraft gaskets is gradually consolidating as the major companies are performing mergers & acquisitions to quickly gain the leading position in the market. For instance, TransDigm Group Incorporated, a leading global designer, producer, and supplier of highly engineered aircraft components, acquired Kirkhill’s elastomers business of Esterline Technologies at a total purchase price of US$ 50 million in cash. Kirkhill Elastomers is one of the leading companies in the aircraft gaskets market.
Based on the aircraft type, the aircraft gaskets market is segmented as commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. Commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period. Expected increase in the production of best-selling commercial aircraft programs, such as B737, A320 family, B787, and A350XWB; market entry of new players, such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs, such as B737 Max, A320neo, and B777X; and rising commercial aircraft fleet size across regions are the key factors rejuvenate the demand for gaskets in the commercial aircraft segment.
Based on the application type, the market is segmented as airframe; landing gear, wheels, and brakes; engine; and others. Airframe is expected to remain the most dominant application segment, whereas nacelles & engines segment is to be the fastest-growing one during the forecast period. Gaskets are used in a wide array of airframe applications including fairings, antennas, wings, doors, windows, hatches, fuselage, canopies, and access panels, driving the dominance of the airframe segment in the market.
Based on the material type, the market is segmented as polymer gaskets, metal gaskets, and conductive gaskets. Polymer gasket is expected to remain the largest most dominant material type in the market. Conductive gasket, a relatively small segment, is likely to be the fastest-growing material category during the forecast period. There has been an incessant replacement of metal gaskets with conductive gaskets, owing to their excellent strength-to-weight ratio at a relatively lower weight. Conductive gaskets are gaining traction in the market driven by their enormous advantages over others.
Based on the end-user type, the market is segmented as OE and aftermarket. The OE segment is projected to maintain its dominance, whereas Aftermarket to be the fastest-growing segment of the market over the next five years. Expected recovery in aircraft production; market entry of new players, such as COMAC; and upcoming aircraft programs are likely to create a strong demand for gaskets in the OE segment. The aftermarket segment, a relatively smaller segment, is likely to grow at a higher rate during the forecast period, owing to expected rise in the commercial aircraft fleet size and increasing demand for advanced lightweight gaskets, to achieve better fuel efficiency. Boeing in its recent outlook estimates that the global commercial and regional aircraft fleets to be around 48,400 units in 2039, almost 2x of its current fleet size (25,900 units), setting the ground for mammoth aftermarket demand in the future.
In terms of regions, North America is expected to remain the largest market for aircraft gaskets during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, gasket suppliers, and airlines. All the major gasket manufacturers have a presence in the region to address the emergent needs of the OEMs. The region is pioneers in the general aviation, military aircraft, and commercial aircraft segments with a strong presence in other segments.
Asia-Pacific is likely to grow at the fastest rate in the post-pandemic market developments. The highest growth of Asia-Pacific is mainly driven by increasing aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; increasing procurement of military aircraft; and upcoming indigenous commercial and regional aircraft (C919 and MRJ). China, Japan, India, and Malaysia remain at the forefront in the generation of demand in the region.
The supply chain of this market comprises raw material suppliers, aircraft gasket manufacturers, distributors, tier players, aircraft OEMs, airline companies, aircraft leasing companies, and MRO companies. The key players in the aircraft gaskets market are
The development of optimized aircraft gaskets, regional expansion, 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 gaskets market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our aircraft seals market, aircraft engine seals market, and aircraft aerodynamic seals market reports from the industry stakeholders, we have tried to further accentuate our research scope to the aircraft gaskets 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 gaskets market is segmented into the following categories.
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The aircraft gaskets market is estimated to grow at a healthy CAGR of 7.5% over the next five years to reach US$ 117 million in 2026.
Eaton Corporation Plc., Esterline Technologies Corporation, Freudenberg Group, Hutchinson SA, Meggitt Plc, Parker-Hannifin Corporation, Saint-Gobain S.A., and SKF Group are some of the leading players in the market.
North America is estimated to remain dominant in the aircraft gaskets market in the foreseen future.
Commercial aircraft is expected to be the largest segment in the aircraft gaskets market in the coming years.
Airframe is expected to remain the most dominant application segment in the aircraft gaskets market during the next five years.
The OE segment is expected to remain dominant in the aircraft gaskets market during the forecast period.
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