PUNE, India, February 14, 2018 /PRNewswire/ --
According to the latest market research report "Aircraft Seals Market by Type (Dynamic and Static), Application (Engine, Airframe, Flight Control System, and Landing Gear), Material (Composites & Polymers and Metals), Vendor (OEM and Aftermarket), Platform, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is estimated to be USD 866.7 Million in 2017 and is projected to reach USD 1,097.2 Million by 2022, at a CAGR of 4.83% from 2017 to 2022. This projected growth can be attributed to the increased deliveries of commercial aircraft and the rising demand for repair and maintenance of existing aircraft seals.
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The civil aircraft segment is the largest platform segment of the aircraft seals market
Based on platform, the aircraft seals market has been segmented into civil aircraft and military aircraft, which includes fixed-wing aircraft and rotary-wing aircraft. The civil aircraft segment is mainly driven by the increase in deliveries of commercial aircraft. Growing demand for short-haul flights is one of the key factors driving the commercial aircraft subsegment of the civil aircraft segment, which, in turn, is expected to drive the demand for aircraft seals in the civil aircraft segment.
The flight control & hydraulic system application segment is projected to grow at the highest CAGR during the forecast period
Based on application, the aircraft seals market has been segmented into engine system, landing gear system, airframe, and flight control & hydraulic system. The flight control & hydraulic system segment covers the market for aircraft seals used in components such as primary flight controls, secondary flight controls, auxiliary power units, power transmission units, and pumps & motors. The seals used in these applications undergo heavy wear and tear and require significant maintenance and repair.
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North America is the largest market for aircraft seals
North America is estimated to account for the largest share of the aircraft seals market in 2017. Countries considered for the market analysis of this region include the US and Canada. The US is the leading market for aircraft seals in North America. Increasing deliveries of commercial aircraft and the presence of maintenance and repair facilities in the US and Canada have contributed to the high demand for aircraft seals in the North American region. The presence of key manufacturers of aircraft seals in the US is another significant factor influencing the growth of the aircraft seals market in North America. The market in Asia Pacific is projected to grow at the highest rate during the forecast period. This high growth can be attributed to the increase in air travel due to rising disposable incomes. Since a seal is one of the vital components of an aircraft, the increasing commercial aircraft fleet will drive the demand for aircraft seals.
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Key companies profiled in the aircraft seals market include Brown Aircraft Supply (US), Eaton Corporation (Ireland), Esterline Technologies (US), Meggitt (UK), Parker Hannifin (US), Saint-Gobain Performance Plastics (France), SKF (Sweden), and Trelleborg (Sweden). These companies are focused on the adoption of various growth strategies to enhance their presence in emerging economies worldwide.
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