Aircraft Seals Market Rise in demand for new aircraft for commercial and defense sectors is a key factor driving global aircraft seals market revenue growth
The global aircraft seals market size is expected to reach USD 3.05 Billion in 2031 and register a revenue CAGR of 5.3% over the forecast period, according to latest analysis by Emergen Research. Global aircraft seals market revenue growth can be attributed to rising demand for new aircraft by commercial airlines and increasing defense budgets. According to figures published by the International Civil Aviation Organization (ICAO), commercial airlines will require more than 43,000 new aircraft between 2020 and 2039, fueled by innovations in aircraft design configuration to enhance fuel efficiency and to reduce carbon footprint of the global aviation sector. In addition, increase in demand for hybrid and electric propulsion aircraft is driving revenue growth of the aircraft seals market.
Aircraft seals find extensive use in hydraulic sealing systems deployed in aviation technology applications. These hydraulic sealing systems are exposed to harsh temperature variations and hostile pressure media, which lead to faster aging of sealing materials compared to conventional applications, and hence reduce the performance efficiency of seals. Market players are making substantial investments in the development of specialized aircraft seals, such as rod seals, to cater to requisite performance levels, with improved dependability. In addition, aerospace seals market revenue growth is fueled by an increase in defense budget, resulting in procurement of new transport and fighter aircraft for military use. In 2020, worldwide military expenditure was expected to be more than USD 1,980 billion, representing a rise of nearly 2.6% than 2019.
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Some Key Highlights From the Report
- In 26 January 2021, Trelleborg Sealing Solutions made an announcement about the introduction of Turcon VL Seal II, which is a distinctive and innovative seal hydraulic sealing of actuators in landing gear and flight controls. This seal delivers improved sealing efficiency, greater reliability, and enables easier installation.
- Among the product type segments, the dynamic seals segment accounted for largest revenue share in 2021. Dynamic aircraft seals separate or retain fluids, contain pressure, and keep out contaminants. These aircraft seals produce a barrier between stationary and moving surfaces in linear or rotary applications, including rotating shafts and pistons. Furthermore, demand for dynamic seals is high owing to their comprehensive usage in a varied range of applications such as flight controls, hydraulics, engine systems, and others. Furthermore, various developmental strategies adopted by market players are expected to support revenue growth for the segment. On 3 March 2021 for instance, two Italian companies, Dichtomatik S.a.s. di Externa Italia S.r.l. and Freudenberg Sealing Technologies S.a.s. di Externa Italia S.r.l.u, merged to form Freudenberg Sealing Technologies. The newly formed organization implements SAP to allow easy access to online ordering platform for sales of dynamic seals.
The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2022-2030.
According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
Parker Hannifin Corp., Ducommun Incorporated, Regal Rexnord Corporation, AB SKF, PPG Industries Inc., Trelleborg AB, Eaton Corporation PLC, STACEM, DP Seals Ltd., Brown Aircraft Supply Inc., Jaco Aerospace, Inc., and Compagnie de Saint-Gobain S.A.
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Furthermore, the report divides the Aircraft Seals Market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global aircraft seals market report based on product type, materials, aircraft type, application, end-use, and region:
- Product Type Outlook (Revenue, USD Million; 2019–2030)
- Static Seals
- Dynamic Seals
- Materials Outlook (Revenue, USD Million; 2019–2030)
- Metals
- Polymers
- Composites
- Aircraft Type Outlook (Revenue, USD Million; 2019–2030)
- Fixed Wing Aircraft
- Rotary Wing Aircraft
- Unmanned Aerial Vehicles
- Application Outlook (Revenue, USD Million; 2019–2030)
- Aircraft Frame
- Engine
- Avionics & Electrical System
- Landing Gear System
- Flight Control & Hydraulics System
- End-Use Outlook (Revenue, USD Million; 2019–2030)
- OEM
- Aftermarket
Overview of the Aircraft Seals Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the Aircraft Sealsindustry
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