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(Transportation-News.com, October 24, 2019 ) Market Overview:
Elastomer seals are often one of the last components to be specified or designed in military and commercial aviation. They are the ubiquitous filler that closes gaps between components in a wing, fuselage and doors. Due to changing regulations regarding firestop testing requirements and pressure from OEMs to reduce aircraft weight, however, materials and design of elastomer seals are evolving.
The growth of the aerospace & defense elastomers market across the globe can be attributed to the increasing consumption of aerospace & defense elastomers in the aviation industry of emerging economies such as India and China. In addition, the replacement of the existing aircraft by new aircraft is also expected to drive the growth of the aerospace & defense elastomers market across the globe.
Market Dynamics:
The growth of the aerospace & defense elastomers market across the globe can be attributed to the increasing consumption of aerospace & defense elastomers in the aviation industry of emerging economies such as India and China. In addition, the replacement of the existing aircraft by new aircraft is also expected to drive the growth of the aerospace & defense elastomers market across the globe.
The world's fleet of commercial aircraft grew its numbers by 4% in 2017, to end the year at more than 31,000 for the first time. The number of aircraft on order was more than half of this number, and the order backlog was almost 10 years.
Market Segmentation:
By application, the aerospace & defense elastomers market is segmented into o - rings & gaskets, seals, profiles, and hoses. The Aerospace & Defense Elastomers Market size by O-rings & gaskets application was worth USDXX million in 2018 and is estimated to reach USDXX million by 2026, at a CAGR of XX% during the forecast period. Elastomers for o - rings & gaskets application is expected to grow with high CAGR rate in the forecast period.
The equipment that are used in aerospace industry is are more advanced than ever before. Sealing solutions and materials must keep up with demanding environments, chemicals, high temperatures and a range of pressures.
O-Rings and gaskets are used for static sealing in various parts of aero engines, including the gearbox, air, oil and fuel systems. Example sealing applications include landing gear assembly that includes hydraulics, wheel & brake, actuator. and flight control sealing such as hydraulics, fuel lines, connectors, lubrication, fuel system seals.
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Geographical Analysis:
Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
Asia is expected to have high CAGR for the market during the forecast period. Economic growth and rising incomes across the region, followed by government incentives to aircraft manufacturers are making companies to invest in the aircraft manufacturing industry, therefore simultaneously engineering material such as elastomers.
For instance, In December, 2018 Boeing opens first 737 plant in eastern China, aiming to deliver 100 Boeing 737 planes a year. The plant is being set up amid forecast by Boeing that China will need 6,810 new aircraft in the next 20 years at an estimated cost of USD 1 trillion. This development in the region to aid demand of one of the aircraft building component such as PU film.
Thailand is planning to build a base for the maintenance, repair and overhaul (MRO) of aircraft in a special economic zone. Demand for MRO services is growing due to an increase in the number of airplanes flying in the region.
Whereas higher defense spending by major regional powers such as China, India, and Japan are expected to drive defense sector growth in the region.
Competitive Analysis:
Some of the major players include Trelleborg, Dow Corning, Greene, Tweed, The Chemours Company, Wacker Chemie AG, Momentive, Solvay, James Walker, SKF.
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Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
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