A seal is one of the vital components of an aircraft and prevents the passage, flow, or leakage of a gas or fluid between the components. It is designed to provide long service life and low friction for extreme pressure applications over a wide temperature range. The increasing need for high-temperature resistant material will create new growth opportunities for the market players. The factors driving the growth of the aircraft seals market are the increasing demand for new commercial and business aircraft, increased defense spending, replacement of old aircraft seals, and growing demand for new fighter jets in developing countries, such as China and India.
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However, there are some shortcomings in the operative performance of aircraft seals such as recyclability issues of composite materials and backlogs in aircraft deliveries. The market for aircraft seals is estimated to witness 5% CAGR during the forecast period.
A seal is one of the vital components of an aircraft and prevents the passage, flow, or leakage of gas or fluid between flaps, slats, access panels, doors and other parts of the aircraft. It is designed to provide long service life and low friction for extreme pressure applications over a wide temperature range. Of late, companies are investing in technology development to produce materials in response to the wide variety of applications, including aircraft gearboxes, air turbine motor starters, and main shaft seals for both aircraft turbine engines and aircraft auxiliary power units. As a result, the higher investments are being made on the development of highly durable aircraft seals to withstand high temperatures. This would positively impact the market growth during the forecast period.
The factors responsible for the growing use of aircraft seals are the increasing demand for new commercial and business aircraft, increased defense spending, replacement of old aircraft seals, and growing demand for new fighter jets in developing countries, such as China and India. There were several contracts that fueled the market growth.
The key players in the aircraft seals market are Eaton Corporation (Ireland), Esterline Technologies Corporation (U.S.), Meggitt Plc (U.K), Parker Hannifin Corporation (U.S.), SKF (Sweden), Trelleborg Sealing Solutions (Sweden), Brown Aircraft Supply Inc. (U.S.), Hutchinson SA (France), Saint-Gobain (France), and Technetics Group (U.S.)
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. North America is expected to dominate the market in the future, due to the presence of leading aircraft manufacturers and engine OEMs. Furthermore, the increased deliveries of commercial aircraft and the presence of MRO facilities in the U.S. and Canada have contributed to the high demand for aircraft seals. Asia Pacific region follows the North American region in the global market due to increased air travel because of the rising per capita disposable income in the region. Thus, the aircraft seals market is estimated to witness rapid growth, at a CAGR of approximately 5% during 2018 to 2023.
The scope of the Report:
This study provides an overview of the Aircraft Seals Market, tracking six market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC), Middle East & Africa and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the aircraft seals market by its seal type, application, material, vendor, platform, and region.
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