The aircraft seals market is projected to expand from US$ 866.0 million in 2019 to US$ 1,257.0 million by 2027, reflecting a compound annual growth rate (CAGR) of 6.2% from 2020 to 2027.
Modern aircraft fleets, encompassing both commercial and military models, operate in challenging environments, necessitating the use of robust components that can endure extreme conditions. Aircraft seals play a crucial role in ensuring the efficient operation of aircraft by preventing the leakage of fluids through various components such as flaps, ailerons, slats, access panels, and doors. As manufacturers of commercial and military aircraft increasingly aim to enhance the range and endurance of their aircraft, the demand for advanced and highly durable seals is on the rise. Additionally, the advantages offered by aircraft seals have garnered significant attention from airframe manufacturers, leading to an uptick in the acquisition of these resilient components.
As the aviation sector continues to expand rapidly, there is a corresponding increase in the demand for maintenance, repair, and overhaul (MRO) services for airlines. Emerging markets, particularly in the Asia-Pacific (APAC) region, are placing a strong emphasis on enhancing MRO services for both commercial and military aircraft. Factors such as economic growth, a rising number of air travelers, and increased investment in aviation infrastructure are driving the growth of the aircraft MRO industry in APAC. The International Air Transport Association has indicated that the anticipated rise in the number of new passengers over the next two decades will also elevate the need for MRO activities aimed at upgrading aircraft fleets. Consequently, the evolving MRO landscape in these developing economies presents significant opportunities for manufacturers and distributors of aircraft seals.
The COVID-19 pandemic has severely impacted the commercial aviation sector, leading to a significant slowdown and leaving minimal resources to predict future trends. The year-on-year increase in the fleet of narrow-body, wide-body, regional, business/corporate, and training aircraft indicates that the aftermarket for aircraft seals remains a growing sector. However, the temporary shutdowns enforced by governments and airlines have had a profound effect on the entire aviation aftermarket, including the seals segment. Furthermore, the retirement of various wide-body and narrow-body jets to reduce operational expenses has negatively influenced the aviation aftermarket, which is expected to further diminish the demand for seals in the near future. As a result, the downturn in the aviation aftermarket has also adversely affected the operations of many players in the aircraft seals market.
The overall size of the aircraft seals market has been determined through a combination of primary and secondary research methodologies. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also aims to provide an overview and forecast of the aircraft seals market across all segments and regions. To validate the data and gain deeper analytical insights, multiple primary interviews were conducted with industry participants and experts. These participants typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the aircraft seals market. Notable companies operating within this sector include Brown Aircraft Supply Inc., DuPont, Eaton Corporation, Hutchinson, Meggitt PLC, Parker Hannifin Corp, Saint-Gobain, SKF, Technetics Group, and Trelleborg Group.