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    Aircraft Gaskets Market Size, Share & Forecast (2019-2024) | Covid-19 Impact Analysis

    Aircraft Gaskets Market Size, Share & Forecast (2019-2024) | Covid-19 Impact Analysis

    Aircraft Gaskets Market Size, Share & Forecast (2019-2024) | Covid-19 Impact Analysis
    Report code - SRAD164 Published On : Oct,2018 No. of Pages: 249
    Aircraft Gaskets Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019-202 See more...
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    Impact of COVID-19 on Aircraft Gaskets Market

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

    See more...

    Impact of COVID-19 on Aircraft Gaskets Market

    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 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.

    Aircraft Gaskets Market Insights

    The aircraft industry represents less than 1% of the total gaskets market but is expected to be one of the fastest-growing markets for gaskets in the coming five years. The global aircraft gaskets market is projected to grow at a healthy rate over the next five years to reach US$ 249.5 million in 2024. Increasing production rates of key aircraft programs, such as B737, B787, A320, and A350XWB; increasing demand for fuel-efficient aircraft; advancement in gasket materials; and rising global aircraft fleet size are the major factors mushrooming the growth 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 the Kirkhill 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.

    Aircraft Gaskets Market Forecast

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    A gasket is a mechanical seal that fills the space between two mating surfaces that seals and isolates an enclosure. The shape of a gasket depends on its application like it is cut down in such a way to match the shape of the matt surface. Gaskets are used in the multiple areas of an aircraft in order 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, threat of fire and explosion. Hence, it becomes necessary to select a sealing material that can handle such harsh and extreme environment. The most commonly used materials for making gaskets in the aircraft industry are metals, composites, conductive, and polymers. The latter one comprises elastomers, such as silicone, fluorosilicone, polytetrafluoroethylene (PTFE), rubber, and thermoplastics.

    Increasing production rates of key commercial aircraft programs are primarily driving the demand for aircraft gaskets. Both major commercial aircraft OEMs, Airbus and Boeing, are incessantly increasing the production of their best-selling aircraft programs in order to meet huge order backlogs of 13,315 commercial aircraft as of September 30, 2018. Irkut and COMAC, the newcomers in the commercial aerospace industry, also hold excellent order backlogs of their upcoming commercial aircraft programs, which is likely to further substantiate the demand for gaskets in the coming years. Also, aircraft OEMs 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. Introduction of lightweight, leakage prevention, and durable gaskets are the focal points of gasket manufacturers, helping them to gain momentum in the market.

     

    Aircraft Gaskets Market Share Analysis

    Aircraft Gaskets Market Share

    Aircraft Gaskets Market Share by Aircraft Type

    The market is segmented based on the aircraft type 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. Increasing demand for commercial aircraft to support rising air passenger traffic, increasing production rates of key 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 propelling the demand for gaskets in the commercial aircraft segment.

    Aircraft Gaskets Market Share by Application Type

    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 segment of the market 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 panel, leading to its dominance in the market.

    Aircraft Gaskets Market Share by Material Type

    Based on the material type, the market is segmented as polymer gaskets, metal gaskets, composite gaskets, and conductive gaskets. Polymer gasket is expected to remain the largest segment of the market during the forecast period, whereas composite gasket is expected to witness the highest growth in the same period. There has been an incessant replacement of metal gaskets with composite gaskets, owing to their excellent strength-to-weight ratio at a relatively lower weight.

    Aircraft Gaskets Market Share by End Use Type

    Based on the end-user type, the market is segmented as OE and aftermarket. The OE segment is projected to maintain its dominance over the next five years. Increasing production rates of key programs, such as B737 and A320 family; 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 rising commercial aircraft fleet size and increasing demand for advanced lightweight gaskets, in order to achieve fuel efficiency.

    Regional Insights

    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 presence in the region to address the emergent needs of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of the existing aircraft programs.

    Asia-Pacific is expected to experience the highest growth in the global market during the forecast period. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ).

    Key Players

    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 gasket market are Eaton Corporation Plc., Esterline Technologies Corporation, Freudenberg Group, Hutchinson SA, Meggitt Plc, Parker Hannifin Corporation, Compagnie de Saint-Gobain S.A., and SKF Group. 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.

     

    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 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 multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, 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.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2013-2024

    Size in 2024

    US$ 249.5 million

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries/Subregions Covered

    The USA, Canada, Mexico, Germany, France, the UK, Russia, China, Japan, India, Latin America, the Middle East and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The market is segmented in the following ways:

    Aircraft Gaskets Market Size, Share & Forecast by Aircraft Type:

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

     Aircraft Gaskets Market Size, Share & Forecast by Application Type:

    • Airframe (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Landing Gear, Wheels & Brakes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

     Aircraft Gaskets Market Size, Share & Forecast by Material Type:

    • Polymer Gaskets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Metal Gaskets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Composite Gaskets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Conductive Gaskets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

     Aircraft Gaskets Market Size, Share & Forecast by End-Use Type:

    • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Gaskets Market Size, Share & Forecast 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: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

     

    Report Features

    This report, from Stratview Research, studies the global aircraft gaskets market over the trend period of 2013 to 2018 and the forecast period of 2019 to 2024. 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 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, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

     

    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 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the component types by application type.

    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 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 size of the Aircraft Gaskets Market in the foreseeable years?

    Driven by a number of factors like Increasing production rates of key aircraft programs, the Aircraft Gaskets Market is projected to reach an estimated value of US$ 249.5 million in 2024.

    Who are the key players in the Aircraft Gaskets Market?

    Eaton Corporation Plc., Esterline Technologies Corporation, Freudenberg Group, Hutchinson SA, Meggitt Plc, Parker Hannifin Corporation, Compagnie de Saint-Gobain S.A., and SKF Group. are among the key players in the Aircraft Gaskets Market.

    Which region/country is expected to remain the largest Aircraft Gaskets Market?

    North America is expected to remain the largest market for aircraft gaskets during the forecast period of 2019-2024. The USA is the growth engine of the regions market.

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