Global Aircraft Elastomers Market to Grow at 5.1% CAGR during 2018-2023
The Global Aircraft
Elastomers Market: Highlights
The next five years for the aircraft elastomers market are
going to be vigorous for both existing as well as new players. The market is
likely to register a healthy CAGR of 5.1% over the next five years, propelled
by a host of factors including increased production of commercial aircraft,
such as B737 and B787; introduction of fuel-efficient aircraft, such as A320neo
and B737 Max; advancement in elastomers; stringent fire test standards; and
rising aircraft fleet size.
Elastomers are used to make seals, gaskets, etc. in the
aircraft industry that is ultimately used for various applications including
airframe seals, such as windows, doors, ailerons, flaps, and access panels; and
fire seals, such as starters, generator exhaust, and auxiliary power unit.
There has been a significant evolution in design and materials with regards to
elastomers in the aircraft industry to address the changing business needs, market
competition and stringent regulations.
Airlines’ requirement for fuel-efficient aircraft shows no
signs of abating. This is corresponding enormous pressure on aircraft OEMs as
well as tier players. Aircraft OEMs along with tier players are advancing their
aircraft by either improving the design or incorporating lightweight parts in
order to make the aircraft lighter for consuming less fuel. Seals and gaskets
also experiencing a remarkable change in design and materials.
Similarly, stringent fire and passenger safety regulations
are imprinting a significant impact on the elastomers market dynamics. For
instance; FAA and Civil Aviation Authority have made it compulsory to conduct
fire test of elastomeric seals with propane and oil burners with the purpose to
assure safety of onboard passengers from fire.
Global Aircraft
Elastomers Market - Insights by
Aircraft Type
The global aircraft elastomers market is segmented based on
the aircraft type as Commercial Aircraft, Regional Aircraft, Military Aircraft,
General Aviation, and Helicopter. Commercial aircraft is likely to remain the
largest and fastest-growing segment of the market during the forecast period of
2018 to 2023, driven by an increasing demand for commercial aircraft to support
the rising air passenger and freight traffic. Boeing anticipated that there
would be total deliveries of 41,030 commercial aircraft worth US$ 6.1 trillion
in the global marketplace during 2017-2036. Asia-Pacific and North America
would be the biggest demand generators with a combined share of 60.2% of the
total commercial aircraft deliveries during 2017-2036. An expected healthy CAGR
of 4.7% in air passenger traffic during 2017-2036 will chiefly drive the demand
for commercial aircraft. This factor will create a sustainable demand for
elastomers in the industry in the foreseeable future.
Based on the material type, the aircraft elastomers market
is segmented as Ethylene Propylene Diene Monomer (EPDM), Fluoroelastomers,
Silicone Elastomers, and Others. Fluoroelastomers are projected to remain the
most dominant material segment of the market during the forecast period, driven
by higher usage in aircraft engines and fuel sections, owing to their good
chemical resistance and cold-flexibility with operating temperatures ranging
between -20°C and 200°C.
Silicone elastomers are likely to be the fastest-growing
material segment of the market during the same period, propelled by its
increasing traction in many applications including gaskets, molded seals,
airframe, aerodynamic, and engine seals. They also offer excellent heat
resistance, cold flexibility, dielectric properties, and good resistance to
oxygen and ozone and have operating temperatures ranging between -60°C and
200°C. Silicone elastomers are replacing neoprene in many aviation seals as it
is up to 15% lighter. Furthermore, there has been an advancement in the
silicone polymers, which are even more lighters.
Based on the application type, the aircraft elastomers
market is segmented as O-Rings, Gaskets, Seals, Profiles, and Hoses. O-Rings
and gaskets are two major applications of the market and are likely to remain
the dominant ones over the next five years as well. These applications found
usage in almost all parts of an aircraft including airframe, engines,
interiors, control surfaces, and landing gears. Nitrile Butadiene Rubber (NBR),
Fluorocarbon Rubber (FKM), Ethylene Propylene Diene Monomer (EPDM), and
Silicone Rubber (Q) are the most common materials used to manufacture O-rings
and gaskets.
Global Aircraft
Elastomers Market - Insights by
Region
In terms of regions, North America is likely to remain the
most dominant market over the next five years, driven by the USA. The country
is the largest manufacturer of aircraft worldwide with the presence of major
commercial, regional, business jet, and military aircraft manufacturers. The
country also holds a long list of tier-I and -II players, which require
elastomeric seals on a daily basis for components/systems manufactured.
Europe, another major market for aircraft elastomers, is
likely to witness a healthy growth rate over the next five years, driven by
increasing production rates of key Airbus aircraft programs, A320 family
including neo version and A350XWB. The region also holds a vast list of tier
players to support the assembly plants of major European airframers including
Airbus Group and ATR.
Asia-Pacific is likely to experience the highest growth
during the forecast period. China, Japan, and India are the growth engine of
Asia-Pacific’s market for aircraft elastomers as tier players are opening their
plants in these countries to tap the huge local potential. Increasing military
budget to procure advanced military aircraft, upcoming indigenous commercial
and regional aircraft (COMAC C919 and Mitsubishi MRJ), opening of assembly
plants of Airbus and Boeing in China, and increasing commercial aircraft fleet
size are the major factors that are bolstering the demand for elastomers for
the aircraft industry in Asia-Pacific.
The supply chain of this market comprises raw material
suppliers, elastomer producers, seal manufacturers, tier players, aircraft
OEMs, MRO companies, and airlines. The key aircraft elastomer manufacturers are
Trelleborg AB, Dow Corning Corporation, Shin-Etsu Chemical Co. Ltd., Greene
Tweed & Co. Inc., TransDigm Group, Solvay S.A., Lanxess Aktiengesellschaft,
Momentive Performance Materials Inc., Saint-Gobain, The Chemours Company, and
Wacker Chemie AG.
Changing market dynamics and competitive landscapes are
compelling the market players to keep advancing their materials and work
closely with tier players to develop advanced elastomers addressing their
emergent market requirements. Advancement in elastomers, collaborations with
tier players and OEMs, and execution of mergers and acquisitions are the key
strategies adopted by the major players to gain a competitive edge in the
market.
Report link- https://www.stratviewresearch.com/341/Aircraft-Elastomers-Market.htmlFor more information, contact
Stratview Research
Email: sales@stratviewresearch.com
Direct: +1-313-307-4176
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