Aircraft O-Rings Market is likely to grow at a decent CAGR of 3.2% in the long run, to reach US$ 174 Million by 2032.
this Research’s comprehensive Aircraft O-rings Market report identifies and profiles key industry players, along with providing estimates of O-rings consumption. The report goes beyond basic market size, it offers a breakdown of O-ring consumption across different aircraft applications, such as engines, nacelles, interiors, etc. This in-depth study equips industry stakeholders with a powerful tool to navigate the complexities of the Aircraft O-rings Market and make informed strategic decisions.
COVID-19 had a devastating impact on the aerospace industry, with the Aircraft O-rings Market experiencing a significant decline of more than 30% in 2020. Now the market is gradually recovering with the rise in RPK along with an increasing military aircraft fleet. The expected rise in the production rate of key programs [A220, A320neo family, A350XWB, B737Max, and B787], entry of new programs [C919, B777x, etc.], and growing aircraft fleet are further likely to drive the demand for aircraft O-rings. Changing geopolitical conditions, supply chain disruptions and labor shortages are affecting the aerospace industry’s recovery. The impact of this has been felt across the value chain, including in the aircraft O-rings business.
Commercial aircraft are expected to remain dominant as well as the fastest-growing segment in the coming years. The commercial aircraft segment is being driven by increasing aircraft deliveries, fleet size, and new efficient variants of existing aircraft. Airbus forecasts a demand for 32,630 single-aisle and 8,220 wide-body aircraft over the next 20 years.
Military aircraft is the second-largest aircraft category. The aircraft type is driven by increasing defense expenditure. Global defense spending rose to US$ 2.1 trillion in 2023. Large increases were recorded in Europe, Asia Oceania, and the Middle East.
Strict fire safety regulations in aircraft interiors necessitate O-rings that meet specific flame retardancy standards. While some elastomers can be treated for fire resistance, other materials like certain thermoplastics might offer inherent fire-retardant properties.
Thermoplastic seals are likely to grow at the fastest pace, driven by their greater acceptance in high-performance applications owing to their excellent resistance against abrasion, wear, extrusion, and temperature.
The Russo-Ukrainian war led to several changes in the market dynamics, especially at the raw material level. The ban on imports from Russia after the war led to an acute increase in the price of all Russian-dependent materials, whose tremor was felt across the value chain including aircraft O-rings.
Airbus forecasts demand for freighter aircraft is expected to reach 2,510 over the next 20 years, with ~920 newly built.
Higher growth is expected in the aftermarket level in the next two years, driven by higher investments by airlines in MRO activities to bring parked aircraft back into the active fleet. On average, 2% to 3% of the commercial jet fleet is replaced every year.
The USA drives North America’s market, The region’s technological advancements, huge R&D investments, and stringent environmental regulations have led to the adoption of sustainable and advanced O-rings.
Approximately, 80% of the world’s regional jet fleet is based in North America. In 2022, +2,100 regional jets were in service in North America and Europe.
Despite several setbacks faced by Boeing over the past three years, North America still manages its gigantic lead in the market. Airbus has been increasing its supply chain in North America, including a rise in the aircraft assembly. Whereas Boeing is focusing more on its quality.
China, India, and Japan to impact Asia-Pacific’s market. India’s fleet will add aircraft at a rate of almost 13% over the first five years and nearly 10% for the 10-year forecast period.
The following are the key players in the Aircraft O-rings Market:
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with this Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Market Dynamics
Introduction
An O-ring is a torus, or doughnut-shaped ring, also known as packing or a toric joint. It is primarily used for sealing and is designed to be seated in a groove and compressed during assembly between two or more parts, creating a seal at the interface.this Research’s comprehensive Aircraft O-rings Market report identifies and profiles key industry players, along with providing estimates of O-rings consumption. The report goes beyond basic market size, it offers a breakdown of O-ring consumption across different aircraft applications, such as engines, nacelles, interiors, etc. This in-depth study equips industry stakeholders with a powerful tool to navigate the complexities of the Aircraft O-rings Market and make informed strategic decisions.
COVID-19 had a devastating impact on the aerospace industry, with the Aircraft O-rings Market experiencing a significant decline of more than 30% in 2020. Now the market is gradually recovering with the rise in RPK along with an increasing military aircraft fleet. The expected rise in the production rate of key programs [A220, A320neo family, A350XWB, B737Max, and B787], entry of new programs [C919, B777x, etc.], and growing aircraft fleet are further likely to drive the demand for aircraft O-rings. Changing geopolitical conditions, supply chain disruptions and labor shortages are affecting the aerospace industry’s recovery. The impact of this has been felt across the value chain, including in the aircraft O-rings business.
By Aircraft Type
Commercial aircraft is expected to remain dominant as well as the fastest-growing aircraft type during the forecast period
Based on aircraft type, the market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation.Commercial aircraft are expected to remain dominant as well as the fastest-growing segment in the coming years. The commercial aircraft segment is being driven by increasing aircraft deliveries, fleet size, and new efficient variants of existing aircraft. Airbus forecasts a demand for 32,630 single-aisle and 8,220 wide-body aircraft over the next 20 years.
Military aircraft is the second-largest aircraft category. The aircraft type is driven by increasing defense expenditure. Global defense spending rose to US$ 2.1 trillion in 2023. Large increases were recorded in Europe, Asia Oceania, and the Middle East.
By Application Type
Interiors is expected to remain the dominant application of the market during the forecast period
High use of static seals in aircraft interiors leads to higher adoption of O-rings. O-rings used for aircraft interiors must address key properties such as fire retardancy and aesthetically pleasantness.Strict fire safety regulations in aircraft interiors necessitate O-rings that meet specific flame retardancy standards. While some elastomers can be treated for fire resistance, other materials like certain thermoplastics might offer inherent fire-retardant properties.
By Material Type
Elastomer seals are expected to remain the most dominant material type in the market during 2024-2032
Elastomer O-rings offer a gamut of advantages including high-and-low-temperature operating conditions, greater flexibility, excellent corrosion resistance, and insulative properties.Thermoplastic seals are likely to grow at the fastest pace, driven by their greater acceptance in high-performance applications owing to their excellent resistance against abrasion, wear, extrusion, and temperature.
The Russo-Ukrainian war led to several changes in the market dynamics, especially at the raw material level. The ban on imports from Russia after the war led to an acute increase in the price of all Russian-dependent materials, whose tremor was felt across the value chain including aircraft O-rings.
By End-User Type
OE is expected to hold the larger share of the market during 2024-2032, whereas aftermarket is expected to be the faster-growing segment of the Aircraft O-rings Market
All the aircraft categories are likely to contribute to the OE segment in the coming years owing to increasing production rates to meet mounting order backlogs.Airbus forecasts demand for freighter aircraft is expected to reach 2,510 over the next 20 years, with ~920 newly built.
Higher growth is expected in the aftermarket level in the next two years, driven by higher investments by airlines in MRO activities to bring parked aircraft back into the active fleet. On average, 2% to 3% of the commercial jet fleet is replaced every year.
Regional Analysis
North America is expected to remain the largest market for Aircraft O-rings during the forecast period
North America has a huge commercial aircraft fleet size. It is the preferred manufacturing hub of the aerospace industry. The presence of many aircraft and engine OEMs, such as Boeing, Bombardier, Gulfstream Aerospace Corporation, GE Aerospace, and Pratt & Whitney.The USA drives North America’s market, The region’s technological advancements, huge R&D investments, and stringent environmental regulations have led to the adoption of sustainable and advanced O-rings.
Approximately, 80% of the world’s regional jet fleet is based in North America. In 2022, +2,100 regional jets were in service in North America and Europe.
Despite several setbacks faced by Boeing over the past three years, North America still manages its gigantic lead in the market. Airbus has been increasing its supply chain in North America, including a rise in the aircraft assembly. Whereas Boeing is focusing more on its quality.
China, India, and Japan to impact Asia-Pacific’s market. India’s fleet will add aircraft at a rate of almost 13% over the first five years and nearly 10% for the 10-year forecast period.
Key Players
The market is fragmented with the presence of over 100 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The Aircraft O-rings Market has a large presence of regional and local players especially at the aftermarket level.The following are the key players in the Aircraft O-rings Market:
- Parker-Hannifin Corporation
- Freudenberg Group
- Trelleborg AB
- Greene Tweed & Co., Inc.
- Hutchinson SA
- EnPro Industries
- Saint-Gobain S.A.
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.Research Methodology
This strategic assessment report from this research provides a comprehensive analysis that reflects today’s Aircraft O-rings Market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with this Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Table of Contents
Overview of Research Scope, Methodology, and Data Collection
2. Market Environment Analysis: Study of Factors Affecting the Market Dynamics
3. Aircraft O-rings Market Assessment (2018-2032) (US$ Million)
4. Aircraft O-rings Market Segments’ Analysis (2018-2032) (US$ Million)
5. Competitive Analysis
6. Customer Analysis
7. Strategic Growth Opportunities
8. Company Profile of Key Players
9. Appendix
Companies Mentioned
- EnPro Industries
- Freudenberg Group
- Greene Tweed & Co., Inc.
- Hutchinson SA
- Parker-Hannifin Corporation
- Saint-Gobain S.A.
- Trelleborg AB
Methodology
LOADING...
