DUBLIN--(BUSINESS WIRE)--The "Aircraft Seals Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type, Material, Application, Distribution Channel, End User" report has been added to ResearchAndMarkets.com's offering.
Aviation seals are utilized in several aircraft assembly applications, including hatch covers, airplane wings, and window gaskets, which need effective sealing to operate in the challenging environments. Aircraft seals are also a critical for the maintenance, repair, and overhaul (MRO) of the aviation components.
Developed regions such as North America and Europe collectively account for ~55% of the global market. Factors such as technological capabilities, high disposable individual incomes, higher standards of living, and rapid technological advancements in the arena of aerospace engineering; and the presence of leading aircraft manufacturers and several well-established sealing solution providers are among the factors contributing to the significant consolidation of the market in North America and Europe.
The emerging aircraft seals market players are gaining industry recognition as they are capable of offering sealing solutions at competitive prices. Due to the slow rate of emergence of new players, the impact of threat to new entrants in the market is low in the present scenario. However, with the projected increase in the number of new market entrants offering cost-effective products, this threat to new entrants would also reach the moderate levels.
Impact of COVID-19 on Aircraft Seals Market
The recent outbreak of the COVID-19 has significantly affected the world. Until the outbreak of COVID 19, the aerospace industry was experiencing substantial growth in terms of production and services, despite huge backlogs from the aircraft manufacturers; the global aviation industry witnessed a significant rise in the number of passenger counts, aircraft procurement (both commercial and military), and MRO activities.
The COVID-19 pandemic has decimated the demand for aircraft globally, which reflected in significantly lower volumes of orders among the airframe manufacturers, further lowering the airframe production. The decline in production volumes has adversely affected the businesses of various component manufacturers. Apart from the airframe manufacturers, the engine manufacturers also witnessed a noteworthy drop in demand for their products, especially from the commercial aircraft OEMs. In 2020, the engine procurement orders drastically fell during the first two quarters.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global aircraft seals market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global aircraft seals market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Market Dynamics
Drivers
- Accentuating Aircraft Order and Delivery Volumes
- Rising Adoption of Durable Seals
Restraint
- Boeing's Setback from B737 Max and Discontinuation of A380 Program
Opportunity
- Stimulating MRO Activities in Emerging Economies
Future Trends
- Innovations in Production of Advanced Carbon Face Seals for Aircraft Engines
Companies Mentioned
- Brown Aircraft Supply, Inc
- DuPont de Nemours, Inc.
- Eaton Corporation plc
- Hutchinson
- Meggitt PLC
- SAINT GOBAIN S.A.
- SKF
- Technetics Group
- Parker Hannifin Corporation
- Trelleborg AB
For more information about this report visit https://www.researchandmarkets.com/r/82jtgz
