What is the future of Aircraft Gaskets Market? Know Covid Impact on Size, Share & Forecasts
June 22, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Gaskets Market.
It was estimated prior to this unanticipated outbreak that the Aircraft Gaskets Market will reach US$ 249.5 million in 2024. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Aircraft Gaskets Market Segment Insights:
By Aircraft Type:
Commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period.
By Application Type:
Airframe is expected to remain the most dominant segment of the market during the forecast period. Gaskets are used in a wide array of airframe applications including fairings, antennas, wings, doors, windows, hatches, fuselage, canopies, and access panel, leading to its dominance in the market.
By Material Type:
Polymer gasket is expected to remain the largest segment of the market during the forecast period, whereas composite gasket is expected to witness the highest growth in the same period. There has been an incessant replacement of metal gaskets with composite gaskets, owing to their excellent strength-to-weight ratio at a relatively lower weight.
By End-User Type:
The OE segment is projected to maintain its dominance over the next five years. The aftermarket segment, a relatively smaller segment, is likely to grow at a higher rate during the forecast period, owing to rising commercial aircraft fleet size and increasing demand for advanced lightweight gaskets, in order to achieve fuel efficiency.
By Region:
North America is expected to remain the largest market for aircraft gaskets during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, gasket suppliers, and airlines. All the major gasket manufacturers have presence in the region to address the emergent needs of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of the existing aircraft programs.
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Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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