Stratview Research announces the launch of a new market research report on Aircraft O-Rings Market by Aircraft Type (Commercial Aircraft, Regional Aircraft, Helicopter, Military Aircraft, and General Aviation), by Application Type (Nacelles & Engines, Interiors, Landing Gear, Wheels and Brakes, Flight Control Actuation and Hydraulics, and Others), by Material Type (Elastomeric Seals, Thermoplastic Seals, and Metallic Seals), by Motion Type (Static Seals and Dynamic Seals), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft O-rings 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 O-rings market to provide the most crystal-clear picture of the market. 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 and investors in the identification of the low-hanging fruits available in the market and formulate the growth strategies.
Aircraft O-Rings Market: Highlights
An O-ring is a torus, or doughnut-shaped ring, also known as packing or a toric joint. It is primarily used for sealing and is designed to be seated in a groove and compressed during assembly between two or more parts, creating a seal at the interface. O-ring is one of the most common seals mainly used for static applications. O-ring is one of the simplest forms of mechanical design and is easy to manufacture into various grades and materials, such as elastomers, thermoplastics, and metals. It can be manufactured through various processes, such as extrusion, injection molding, pressure molding, or transfer molding.
The booming aerospace industry was first hit by the grounding of the B737Max in 2019. In 2020, the pandemic worsened the industry challenges, causing unimaginable disruption and losses for the stakeholders. The aircraft O-rings market followed suit and logged a massive decline of -28.2% in 2020, creating a lag of more than 5 years in the market.
Strong fundamentals of the industry, such as a huge pile of order backlogs of Boeing and Airbus, market entry of new and variants of the existing aircraft programs, B777X, A321XLR, C919, and MC-21; resumption of production of B737MAX and A220, will surely help the industry stakeholders including O-ring manufacturers to mark a healthy recovery from the pandemic. The market is likely to rebound at a promising CAGR of 7.8% to reach US$ 145 Million in 2026.
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Based on the aircraft type, commercial aircraft is expected to remain the largest and fastest-growing market segment during the forecast period. Increasing production rates of best-selling aircraft programs, market entry of new players, such as COMAC and Irkut, and resumption of B737Max production are some of the key factors propelling the demand for O-rings in the commercial aircraft segment.
Based on the application type, the market is segmented as nacelles & engines, interiors, landing gear, wheels and brakes, flight control actuation and hydraulics, and others. Interiors are expected to remain the largest segment of the market during the forecast period. High use of static applications in aircraft interiors leads to higher adoption of O-rings. O-rings used for aircraft interiors must address the key properties such as fire retardancy and aesthetically pleasant.
Based on the material type, elastomer is expected to remain the most dominant material type in the market during 2021-2026. Elastomer O-rings offer a gamut of advantages including high-and-low-temperature operating conditions, greater flexibility, excellent corrosion resistance, and insulative property. Thermoplastic seals are likely to grow at the fastest pace, driven by their greater acceptance in the high-performance application owing to their excellent resistance against abrasion, wear, extrusion, and temperature.
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North America is expected to remain the largest market for aircraft O-rings during the forecast period, in terms of regions. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, and raw material suppliers. Most of the O-ring suppliers have their presence in the region to address the emergent needs of OEMs and to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Asia-Pacific is likely to recover at the fastest rate, witnessing the highest growth during the same 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 multiple aircraft programs, increasing procurement of military aircraft, owing to rising defense budget, and upcoming indigenous aircraft, C919.
The market for aircraft O-rings is highly fragmented with the presence of large number of global and regional players. Most of the major players, such as Parker-Hannifin Corp., Freudenberg Group, and Trelleborg AB, are well diversified with the presence in a large variety of seals serving several end markets. The supply chain of this market comprises several nodes including raw material suppliers, aircraft O-ring manufacturers, tier players, distributors, aircraft and engine OEMs, airlines, and MRO companies. Following are the key players in the aircraft O-rings market.
Development of durable O-rings for critical applications, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to maintain a competitive edge in the market.
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 on 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:
This report studies the global aircraft O-rings market and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the six ways in which the market is segmented:
Aircraft O-Rings Market, by Platform Type
Aircraft O-Rings Market, by Application Type
Aircraft O-Rings Market, by Material Type
Aircraft O-Rings Market, by Motion Type
Aircraft O-Rings Market, by End-User Type
Aircraft O-Rings Market, by Region