Aircraft Gaskets Market Size, Emerging Trends, Forecasts, and Analysis
May 25, 2022
Stratview Research releases a new report on the Aircraft Gaskets Market that shows lucrative growth opportunities in the global industry during the next five-year period. This report ensures reliable information related to the present and future market trends. The following summary will give an overview of the challenges, dynamics, and more details mentioned in the report.
Aircraft Gaskets Market Insights:
The Covid-19 has impacted the market dynamics, competition, and sabotage in the supply chain of almost all industries. However, the aircraft industry proved to be one of its biggest victims. All the aerospace industry stakeholders were struggling in managing their liquidity and optimizing their operation in order to sustain in the market in the trying time. Gaskets represent a diminutive share of the gigantic aircraft industry, but this market followed a similar trajectory with a massive drop of -29.3% in their sales in the year 2020, forced the market to below its 2014 levels. After a colossal decline in the year 2020, the global aircraft gaskets market is set to grow at a healthy rate over the next five years to reach a projected figure of US$ 117.0 million in 2026. The organic growth of the aircraft industry may act as the prime growth engine of the market.
The Aircraft Gaskets Market size depends upon several factors that have direct or indirect influence on the demand and supply chain. The report published by Stratview Research throws light on the vital extracts of many such factors derived using different types of analysis like supply chain analysis, etc. These methods help in analysing the core strength of the companies, identifying their growth strategies, recognising their gaps as well as opportunities to lay out an effective roadmap which leads to higher profitability.
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Key Players
The report also highlights the topmost linchpins active in the market. According to the list, here are few key players mentioned in the report -
- Eaton Corporation Plc.
- Esterline Technologies Corporation
- Freudenberg Group
- Hutchinson SA
- Meggitt Plc
- Parker-Hannifin Corporation
- Saint-Gobain S.A.
- SKF Group
Market Segmentation:
The report segments based upon geographics, demographics, benefits and volume etc., identifies the most attractive segments and sub-segments and have different driving factors. The segmentation mentioned in the report has been arranged in such a way that it can help users to be more efficient in terms of time, investment, and other resources. It also allows the businesses to learn more about their target audience so that they can tailor their strategies, and campaigns in increasing their market share and revenue.
Aircraft Gaskets Market Share by Material Type
Based on the material type, the market is segmented as polymer gaskets, metal gaskets, and conductive gaskets. Polymer gasket is expected to remain the largest most dominant material type in the market. Conductive gasket, a relatively small segment, is likely to be the fastest-growing material category during the forecast period. There has been an incessant replacement of metal gaskets with conductive gaskets, owing to their excellent strength-to-weight ratio at a relatively lower weight. Conductive gaskets are gaining traction in the market driven by their enormous advantages over others.
Aircraft Gaskets Market Share by End-User Type
Based on the end-user type, the market is segmented as OE and aftermarket. The OE segment is projected to maintain its dominance, whereas Aftermarket to be the fastest-growing segment of the market over the next five years. Expected recovery in aircraft production; market entry of new players, such as COMAC; and upcoming aircraft programs are likely to create a strong demand for gaskets in the OE segment. The aftermarket segment, a relatively smaller segment, is likely to grow at a higher rate during the forecast period, owing to expected rise in the commercial aircraft fleet size and increasing demand for advanced lightweight gaskets, to achieve better fuel efficiency. Boeing in its recent outlook estimates that the global commercial and regional aircraft fleets to be around 48,400 units in 2039, almost 2x of its current fleet size (25,900 units), setting the ground for mammoth aftermarket demand in the future.
Regional Analysis
In terms of regions, 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 a presence in the region to address the emergent needs of the OEMs. The region is pioneers in the general aviation, military aircraft, and commercial aircraft segments with a strong presence in other segments.
Asia-Pacific is likely to grow at the fastest rate in the post-pandemic market developments. The highest growth of Asia-Pacific is mainly driven by increasing aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; increasing procurement of military aircraft; and upcoming indigenous commercial and regional aircraft (C919 and MRJ). China, Japan, India, and Malaysia remain at the forefront in the generation of demand in the region.
Report Customization Options
Stratview Research offers one of the following free customization options to the users along with this detailed report:
Company Profiling
- Detailed brief of additional market players.
- SWOT analysis of key players.
- Competitive Benchmarking
Benchmarking of the market key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
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