(MENAFN- America News Hour) “The aircraft seals market is projected to grow at a CAGR of 4.83% from 2023-2033”.
The aircraft seals market is projected to grow from USD 866.7 million in 2023 to USD 1,097.2 million by 2033, at a CAGR of 4.83% from 2023-2033.
The growth in global air travel and the subsequent demand for new commercial & business aircrafts, and the increased defense spending by developing countries, such as China and India, coupled with the growing demand for new fighter jets are key factors driving the growth of the aircraft seals market. However, the recyclability issue of composite materials and backlogs in aircraft deliveries are projected to hinder the market growth. In addition, issues associated with quality accreditations act as a key challenge to the growth of the market. On the other hand, developments in the additive manufacturing technology offer key growth opportunities to manufacturers of aircraft seals.
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“Engine system segment is the largest application segment of the aircraft seals market”
The engine system application segment covers the market for aircraft seals used in components such as fan blade annulus fillers, fan cowl/thrust reverser doors, heat exchangers, drive shafts, fuel management (actuation, fuel pumps, and metering), and air intakes. The seals used for this application are designed to withstand high temperatures and are often more expensive than the ones used in airframes and other surfaces.
“Polymers & composites segment is the largest material segment of the aircraft seals market”
Based on material, the aircraft seals market has been segmented into polymers & composites and metals. The polymers & composites segment is expected to lead the aircraft seals market during the forecast period, due to the increase in demand for lightweight seals for new aircraft, globally.
“North America is the largest market for aircraft seals”
North America is currently the largest market for aircraft seals, followed by Europe and Asia Pacific. The growth of the North America aircraft seals market is primarily driven by the US and Canada, with both countries housing some of the leading aircraft manufacturers and engine OEMs, such as Boeing (US), Bombardier (Canada), and Pratt & Whitney (US), which are the prime end-users of aircraft seals. Increase in commercial and business aircraft fleet size is positively influencing the market growth in this region.
Breakdown of Primaries:
In-depth interviews were conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1 – 21%, Tier 2 – 67%, and Tier 3 – 12%
By Designation: C-Level – 23%, D-Level – 32%, Engineer-Level – 45%
By Region: Asia Pacific – 68%, Europe – 20%, North America – 12%, Rest of the World – 0%
Note: The tier of the companies has been defined on the basis of their total revenue, as of 2015: Tier 1 = USD 1 billion, Tier 2 = From USD 100 million to USD 1 billion, and Tier 3 = < USD 100 million.
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Research Coverage:
The research report categorizes the aircraft seals market on the basis of application (engine system, airframe, flight control & hydraulic system, and landing gear system), vendor (OEM and aftermarket), type (dynamic and static), material (polymers & composites and metals), and platform (civil aircraft and military aircraft). These segments and subsegments were mapped across major regions, namely, North America, Europe, Asia Pacific, and Rest of the World.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analysis, such as industry analysis (industry trends), market ranking of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the aircraft seals market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
. Market Penetration: Comprehensive information on products and integrated solutions and services offered by top players in the global aircraft seals market
. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the aircraft seals market
. Market Development: Comprehensive information about lucrative emerging markets- the report analyzes the market for aircraft seals across regions
. Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global aircraft seals market
. Competitive Assessment: In-depth analysis of all the key players, strategies, products, and manufacturing capabilities of the leading players in the global aircraft seals market
. Market Sizing: Market size for the financial year 2023-2033 and projection of the market size from 2023-2033.
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