High manufacturing cost resulting in substantial increase in product price will hamper the aircraft seals market demand. Manufacturers are using high cost composite material to comply with government norms and reduce overall weight of the airplane. This will further increase the product cost and limit the aircraft seals market share over the forecast timeline.
Aircraft Seals Market size is expected to witness growth owing to increasing demand for lightweight materials. Product demand is mainly driven by advantages offered such as leak proof, friction free and self-lubricating seals. Stringent government regulations mandate the manufacturers to use high quality material. Raw material suppliers providing quality materials that can be used to comply with these regulations possess growth opportunity in aircraft seals market share over the forecast timeline.
Expanding aviation industry is driven by rise in passenger traffic across the globe. Increment of international & domestic fleet gives rise to demand of new airplanes. Growing demand for new deliveries from Airbus & Boeing and increasing backlog creates the growth opportunity for component suppliers across aerospace sector from 2017 to 2024.
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Based on aircraft, industry is categorized in to commercial, regional, general aviation, helicopter and military airplanes. Demand from commercial airplanes will acquire significant share owing to increasing usage of product in modern airplanes. Demand from military aircrafts is attributed to increasing number of light combat helicopters. For instance, in 2016, Defense Ministry of India purchased 16 light combat helicopters. China purchased more than 200 helicopters including Bell 407GXP & Bell 505 in the same year.
Based on application, the industry is categorized into engine, flight control surfaces, airframe, interiors, landing gears and brakes & wheels. In 2016, engine segment holds largest revenue share and is expected to maintain its dominance owing to wide applications in engine systems.
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North America aircraft seals market size is expected to witness significant growth owing to strong presence of manufacturers in the region. Boeing has established manufacturing plant in the U.S. and Airbus is in process of starting production from its U.S. facility. American Airline Group has the largest fleet size and carries the highest number of passengers globally. Expanding aviation industry and technological developments in region will support the aircraft seals market revenue during the forecast period.
Asia Pacific aircraft seals market size will grow with fastest rate owing to surging aviation industry led by China, India, Singapore and Malaysia. Asia Pacific air traffic has grown by 11 % in 2016. Affordable flight fare will boost aviation industry thereby increasing revenue for aircraft seals market.
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Some of aircraft seal manufacturing companies are Hutchinson SA, Trelleborg, Esterline Technologies Corporation, Thomasnet, Advance Aircraft Seal, Brown Aircraft, Ace Seal, Robco, Dupont, Kopco Global and Jaco Airspace & Industrial among others. Manufacturers focus on development of optimized products and establishing long term contracts with OEMs for business sustainability.
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