DUBLIN, September 29, 2022 /PRNewswire/ — The report “Aircraft Interior Sandwich Panel Market Size, Share, Trend, Forecast, Competitive Analysis and Growth Opportunity: 2022-2027” has been added to from ResearchAndMarkets.com offer.
Aircraft engines have evolved tremendously throughout the aviation industry’s journey, as they play the most central role in an aircraft. Most innovations to an aircraft engine primarily target three areas: more power, more durability, and more efficiency.
Almost all engine systems and their components have gone through a disruptive journey with significant changes in design, technology and materials. Gaskets are also not spared from such market dynamics and have seen significant changes in design and materials over the period.
Seals are among the most important components of an aircraft, used in countless applications in an aircraft – from exterior flaps to cockpit windshields. Moreover, although they are only a small part of a modern aircraft, they are crucial to its functioning – if they fail, they can compromise the performance of the whole aircraft.
In 2020, the aircraft engine gaskets market experienced its largest decline in the past 16 years, primarily driven by the rapid onset of the COVID-19 pandemic. The aviation industry was already under immense pressure due to several factors that halted the growth of the market, including the grounding of the B737 Max.
The rapid spread of the pandemic has further deteriorated the health of the industry and severely affected the entire industry ecosystem, including aircraft engine seals.
According to IATA’s recent impact assessment, total revenue for global passenger airlines fell by approximately 418 billion US dollars in 2020, which was 66% lower than 2019 revenue; with a decline of more than 88% in international RPKs and 51% in domestic RPKs. However, growth in the first half of 2021 is shaping hopes for a recovery.
Despite the short-term demand fiasco, long-term growth prospects still look favourable, credit goes to strong market fundamentals (huge pile of order books from Boeing, Airbus and COMAC, expected increase in air traffic of passengers, development of next-generation aircraft, etc.).
The Aircraft Engine Seals Market is expected to rebound from 2021, eventually leading the market to break through the historic figure of US$0.5 billion in 2026. LEAP engines are the strengths of the market. However, to adapt to market conditions, Safran/CFM has reduced its LEAP engine deliveries to 815 engines in 2020 from 1,736 engines in 2019.
The company aims to return to the level of LEAP engine deliveries of 2019 by 2024. With the recovery expected in 2021 due to the takeover of the B737 Max, the two largest aero engine manufacturers GE and Safran; aims to increase their revenue by unveiling low-emission jet engines.
Sector analysis
Aircraft Engine Seals Market Share by Aircraft Type
Despite falling sharply in 2020, commercial aircraft are expected to maintain their huge lead in the aircraft engine seals market for the foreseeable future. The year 2020 witnessed a massive decline in the commercial aircraft segment, due to several factors including the outbreak of the coronavirus, the trade war between the United States and China, and current challenges in the aerospace industry such as the grounding of the B737 max, the delays of the B777x, C919 and MC. -21 entries on the market, failure of Pratt & Whitney 1100 engines and revision of production rates for the main aircraft programs (A350XWB).
However, the long-term outlook still looks positive with a plethora of opportunities for market players. Boeing and Airbus are still hoping for a positive long-term market outlook. Boeing Outlook: 48,440 commercial and regional aircraft fleet by 2039 from 25,900 units in 2019, growing at a CAGR of 3.2%.
Aircraft Engine Seals Market Share by Application Type
Based on type of application, the aircraft engine seals market is segmented into nacelle, oil and fuel systems, fan blade, combustion and exhaust section, and others. The nacelle is expected to remain the dominant application segment of the market for the next five years. Gaskets used in nacelles must comply with ISO 2865 and AC 20-135 standards, which require them to resist flame and temperatures up to 1100C for at least 15 minutes. Fire seals are commonly used in nacelles, among the toughest application areas in aircraft today.
Aircraft Engine Gaskets Market Share by Material Type
Elastomeric seals are expected to remain the most dominant material type in the aircraft engine seals market and are also expected to witness the highest growth during the forecast period. The enormous predominance of elastomers is due to their ability to contract 10 times more than steel as well as increased flexibility at low temperatures. Metal gaskets are expected to see the biggest decline in the market in 2020 due to increased demand for high performance lightweight gaskets.
Aircraft Engine Seals Market Share by Function Type
Fire seals are generally tested to ISO 2685 and AC20-125 standards, which ensure that the seals can withstand a flame up to 1100°C for at least fifteen minutes without being destroyed. The development of high-thrust engines to improve engine performance, such as fuel efficiency and noise reduction, requires high-temperature resistant fire seals in various engine sections, such as fuel management and l bleed air.
Aircraft Engine Seals Market Share by Motion Type
The dynamic seals segment is expected to remain dominant and be the fastest growing market segment during the forecast period. Dynamic seals play an important role in maintaining a balance between sealing forces, preventing leaks and minimizing friction. This is expected to boost the buoyant seals market over the forecast period.
Regional analysis
At the regional level, North America is expected to remain the largest aircraft engine seal market, while Asia Pacific is expected to remain the fastest growing market over the same period. Short-term market demand is challenging in all regions, including Asia Pacific.
According to IATA estimates, the airline industry in the Asia Pacific the region declined by at least a rate of -61.9% in RPK in 2020 compared to the level of 2019. The long-term outlook for the market looks promising. According to Boeing estimates (2020-2039), China will need 8,600 commercial and regional aircraft over the next 20 years, 6.3% more than the company forecast last year. 75% of these deliveries will be single-aisle.
Some of the key mergers and acquisitions and strategic alliances in the market:
- In 2019, TransDigm Group Inc. acquired Esterline for an agreed price of 4 billion US dollars. The acquisition led the company to gain a significant share of the aircraft engine seal market.
- In 2018, TransDigm Group Inc. acquired Kirkhill Elastomers Business from Esterline Technologies for a total cost of $50 million.
- In 2016, Trelleborg Sealing Solutions acquired a CaliforniaCoorsTek, Inc., a subsidiary of CoorsTek, Inc. The company has strengthened its portfolio of high precision seals including polymers and metals for aerospace applications.
Key players
The supply chain of this market includes raw material suppliers, aircraft engine gasket manufacturers, distributors, level players, aircraft engine OEMs, aircraft OEMs and service companies. MRO.
The major Aircraft Engine Gaskets manufacturers are-
- Hutchinson AG
- Trelleborg AB
- Meggitt PLC
- TransDigm Group Inc.
- Freudenberg Group
- Eaton Corporation Plc
- Parker-Hannifin Corporation
- Green tweed
- Saint-Gobain SA
- SKF Group
For more information about this report, visit https://www.researchandmarkets.com/r/kkwlo1
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SOURCE Research and Markets