Aircraft Seals Market | 2031 Strategic Insights | Recent updates
The Aircraft Seals Market size is projected to reach US$ 1.50 billion by 2031 from US$ 0.95 billion in 2023. The market is expected to register a CAGR of 5.9% in 2023–2031. The aviation industry is increasingly becoming sophisticated with the emergence and rapid acceptance of lightweight and durable materials. The conventional type seals were manufactured using hardened metals; however, over the past few years, the aircraft and aircraft component manufacturers, as well as aircraft operators are seeking lightweight seals such as polymer-based seals and composite-based seal. This factor is reflecting higher demand for polymer-based and composite-based seals, which is driving the market.
Aircraft Seals Market Analysis
The increasing volumes of aircraft orders and productions is supporting the growth of the aircraft seals market through the OEM segment. On the other hand, the aftermarket segment refers to the revenues generated by selling aircraft seals to the independent MRO service providers, airlines' in-house MRO facilities, and military forces. The existence of the older aircraft fleet among numerous airlines is demanding replacement and maintenance of aircraft seal. The aftermarket segment in the aircraft seals market is relatively small as the seals are produced with a higher service lifespan.
Aircraft Seals Market Overview
Aircraft seals market is likely to witness a strong growth in the coming years. The growth of market is propelled by some of the below dynamic factors:
- Increasing aircraft deliveries worldwide
- Growth in aviation MRO industry
- Growth in aircraft fleet across different regions
- Major backlogs of the major aircraft OEMs
These factors are likely to show significant impact in terms of positive growth of the aircraft seals market. Some of the other major factors likely to drive the market include factors such as the rising procurement of military aircraft; introduction of low-cost airlines/low-cost carriers (LCA/LCC) propelling the demand for flight operations, ultimately driving the demand from the aftermarket sales as well.
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Aircraft Seals Market: Strategic Insights
Market Size Value in US$ 866.0 Million in 2018 Market Size Value by US$ 1,257.0 Million by 2027 Growth rate CAGR of 6.2% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Aircraft Seals Market: Strategic Insights
| Market Size Value in | US$ 866.0 Million in 2018 |
| Market Size Value by | US$ 1,257.0 Million by 2027 |
| Growth rate | CAGR of 6.2% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Aircraft Seals Market Drivers and Opportunities
Rising Global Aircraft Fleet Size
The rising aircraft fleet size is one of the major factors catalyzing the growth of aircraft seals market globally. In 2023, the global commercial aircraft fleet stood at 27,385 aircraft (including 8,122 in North America; 6,362 in Europe; 8,756 in Asia Pacific; and 4145 in the Rest of the world) that further reached to 28,398 commercial aircraft in 2024 (including 8,231 in North America; 6,533 in Europe; 9,263 in Asia Pacific; and 4,371 in the Rest of the World). Such rise in fleet has driven the demand for aircraft seals across different regions in the past year.
Expected Aircraft Deliveries During the Next Two Decades Likely to Provide Future Opportunities
The forecasted deliveries of next twenty years, is likely to generate new opportunities for aircraft component manufacturers including aircraft seal companies. For instance, according to the Boeing’s and Airbus’ commercial aircraft delivery forecasts, more than 40,800 aircraft are expected to be delivered during the period of 2023-2042. This number is expected to raise the demand for new aircraft seal products and is expected to drive the global aircraft seals market in the coming years.
Aircraft Seals Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Aircraft Seals Market analysis are type, material, application, distribution channel, end user, and geography.
- Based on type, the Market has been categorized into dynamic seal and static seal. The dynamic seal segment held a larger market share in 2023.
- By material, the Market has been segmented into metals, polymers, and composites. The polymers segment held the largest share of the market in 2023.
- In terms of application, the Market has been segmented into airframe, engine, landing gear, flight control & hydraulic system, others. The airframe segment dominated the market in 2023.
- In terms of distribution channel, the Market has been segmented into OEM and aftermarket. The OEM segment dominated the market in 2023.
- In terms of end user, the Market has been segmented into commercial aircraft and military aircraft. The commercial aircraft segment dominated the market in 2023.
Aircraft Seals Market Share Analysis by Geography
The geographic scope of the Aircraft Seals Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the Aircraft Seals Market in 2023, whereas, Asia Pacific region is likely to witness a significant growth during the forecast period. The North American region includes the US, Canada, and Mexico. The US dominated the North American market in 2023. This is mainly due to the rising air passenger traffic and increasing aircraft fleet size across the country. Further, the future aircraft deliveries in the coming twenty years will also generate new opportunities for the market vendors in the North America region. For instance, according to the Airbus Global Market Forecast report, more than 6,970 commercial aircraft are expected to be delivered during 2023-2042. This will generate new demand for aircraft seals in the coming years.
Aircraft Seals Market Report Scope
Aircraft Seals Market News and Recent Developments
The Aircraft Seals Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for aircraft seals market and strategies:
- In September 2023, Trelleborg Sealing Solutions Aerospace launched Turcon VL Seal II for hydraulic sealing of actuators in flight controls and landing gear, and seals in landing gear shock absorbers. (Source: Trelleborg Sealing Solutions, Press Release/Company Website/Newsletter)
- In September 2022, Parker-Hannifin Corp has completed its acquisition of the UK-based aerospace and defense supplier Meggitt Plc for approximately US$ 7.8 billion. (Source: Parker-Hannifin Corp, Press Release/Company Website/Newsletter)
Aircraft Seals Market Report Coverage and Deliverables
The “Aircraft Seals Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Material , Application , Distribution Channel , End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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