What is the future of Aircraft Seals Market? Know Covid Impact on Size, Share & Forecasts
June 24, 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 Seals Market.
It was estimated prior to this unanticipated outbreak that the Aircraft Seals Market will reach US$ 1,107.2 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 Seals Market Segment Insights:
By Aircraft Type:
Commercial aircraft is expected to remain the growth engine of the aircraft seals market during the forecast period of 2019 to 2024. Increasing commercial aircraft deliveries to support rising passenger traffic, the introduction of fuel-efficient next-generation aircraft (B777x, A330neo, B737 Max, and A320ne0), increasing demand for lightweight seals, and rising commercial aircraft fleet size across regions are the key factors propelling the demand for seals in the segment.
By Application Type:
Engine System is expected to remain the most dominant application segment of the market during the forecast period. Seals are used in a wide spectrum of engine applications including engine and pylon seals, thrust reverser seals, bleed air seals, fire seals, air inlet screens, vane grommets elastomeric gaskets, shaft seals, and O-rings.
By Material Type:
The polymer seal is expected to remain the largest segment of the market during the forecast period, whereas composite seal is expected to witness the highest growth during the same period. There has been an incessant replacement of metal seals with composite seals, owing to their excellent strength-to-weight ratio at a relatively low weight.
By Region:
North America is expected to remain the largest aircraft seals market during the forecast period, whereas Asia-Pacific is expected to experience the highest growth during the same period. The highest growth of aircraft seals in Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; opening of assembly plants of Boeing and Airbus for the B737, A320, and A330 aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ). China, Japan, and India will be the growth engines of the region’s market in coming years.
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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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