Global Aircraft Seals Market Forecast 2023

DUBLIN, Aug. 11, 2023 /PRNewswire/ -- The "Global Aircraft Seals Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global aircraft seals market is projected to experience substantial growth over the forecast period, with an expected CAGR of 4.1%. The market is predicted to expand from USD 3.1 billion to reach USD 3.8 billion by 2028. The growth can be attributed to several factors, including increased aviation traffic, a focus on fuel efficiency, technical advancements, and regulatory regulations. Manufacturers, OEMs, MRO service providers, and other stakeholders need to strategize effectively to capitalize on the expanding opportunities in this evolving aircraft seals market.

Increase in Global Aircraft Fleet Size Driving Demand for Seals

With the rise in global air passenger traffic, the number of aircraft is increasing steadily. Airbus, for instance, plans to augment production of its A320 aircraft family to 45 per month by the end of 2021, and further increase it to 64 per month by the 2nd quarter of 2023 and 70 per month by 2024. Additionally, there has been an increase in the production of military aircraft as countries like the US, China, India, Russia, and the UK ramp up their military expenditure. Moreover, the growth in international trade between countries has led to an increase in the frequency of cargo airplanes. As aircraft fleets grow, the demand for seals, which play a crucial role in various systems and aerostructures, will also rise. Consequently, the OEM market for aircraft seals is expected to witness substantial growth in tandem with the increasing demand for new aircraft.

Engine Seals Segment Dominates the Market

The aircraft seals market is segmented based on applications into engine systems, landing gear systems, airframes, avionics & electrical system, and flight control & hydraulic system. Among these, the engine systems segment is projected to hold the largest market share during the forecast period. Aircraft seals are integral components in engine systems, used in various engine components like fan blades, fan cowl/thrust reverser doors, heat exchangers, driveshafts, fuel management systems, and air intakes. The smooth operation of aircraft engines relies on these critical engine systems, and the use of aircraft seals is crucial to maintaining system integrity and preventing oil leakages.

Composites Segment Shows High Growth Potential

The market is segmented by material into composites, polymers, and metals. The composites segment is expected to lead the aircraft seals market during the forecast period due to the growing demand for lightweight seals in new aircraft. Composite materials offer high resistance to heat, robustness, and excellent tensile strength, making them a preferred choice for seal manufacturers. On the other hand, the metals segment is projected to register the highest CAGR during the forecast period, attributed to the increasing use of aircraft seals in aircraft engines and other high-temperature applications.

Dynamic Seal Segment Dominates the Market

Based on type, the aircraft seals market is segmented into dynamic seals and static seals. The dynamic seals segment is estimated to account for a larger share of the market in 2028. These seals find application in various aircraft components and systems and play a critical role in maintaining system integrity and preventing leakages.

Asia Pacific Emerges as a Key Growth Region

The Asia Pacific (APAC) region is anticipated to witness the highest CAGR in the aircraft seals market. Countries like China and India are making significant investments in aircraft seals to enhance their technological capabilities. With projected GDP growth, these developing countries offer considerable potential for the market. China, in particular, has attracted substantial foreign investments due to its stable growth and robust economic developments.

Major Players in the Market

The major players operating in the aircraft seals market include SKF (Sweden), Parker Hannifin Corporation (US), Trelleborg Sealing Solutions (Sweden), Eaton Corporation PLC (Ireland), and Saint-Gobain (France).

Conclusion

The aircraft seals market is set for significant growth due to increased air passenger traffic, rising global aircraft fleet size, and advancements in materials and technology. The engine systems segment and composites material segment are likely to dominate the market. Asia Pacific is expected to be a key growth region. Stakeholders in the aviation sector need to strategize and align their efforts to capitalize on the expanding potential in the aircraft seals market.

Market Dynamics

Drivers

Restraints

Opportunities

Challenges

Premium Insights

Increase in Global Aircraft Fleet Size to Drive Market from 2023 to 2028

Commercial Aviation to Dominate Market During Forecast Period

Aftermarket End-Use to Dominate Market During Forecast Period

China to be Fastest-Growing Market from 2023 to 2028

Other Key Insights

Value Chain Analysis

Volume Analysis

Ecosystem Mapping

Trends/Disruptions Impacting Customer Business

Porter's Five Forces Analysis

Trade Data Analysis

Tariff and Regulatory Landscape

Case Study Analysis

Technology Analysis

Key Conferences and Events, 2023

Tariff and Regulatory Landscape

Key Topics Covered

1 Introduction2 Research Methodology3 Executive Summary4 Premium Insights5 Market Overview6 Industry Trends7 Aircraft Seals Market, by Type8 Aircraft Seals Market, by Material9 Aircraft Seals Market, by Aircraft Type10 Aircraft Seals Market, by Application11 Aircraft Seals Market, by End-Use12 Aircraft Seals Market, by Region13 Competitive Landscape14 Company Profiles

Brown Aircraft Supply

DP Seals

DuPont

Eaton Corporation PLC

Emi Seals & Gaskets

Freudenberg Sealing Technologies

Hutchinson

Icon Aerospace Technology

Jacottet Industrie

Kirkhill, Inc.

Nicholsons Sealing Technologies Ltd.

Northwest Rubber Extruders, Inc.

Parker Hannifin Corporation

Performance Sealing Inc.

PPG Aerospace

Precision Polymer Engineering Ltd.

Rexnord Corporation

Saint-Gobain

Seal Science, Inc.

SKF

Stacem

Stein Seal Company

Technetics Group

Trelleborg Sealing Solutions

W. L. Gore & Associates, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/xzy9gn

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