Aircraft Engine Seals Market by Aircraft Type, by Application Type, by Material Type, Motion Type, by Function Type, and by Region, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025
|出版日期||內容資訊||英文 264 Pages
|飛機引擎油封的全球市場-按機器類型，應用類型，材料類型，移動性類型，功能類型，區域：未來預測，競爭分析，增長機會（2020-2025） Aircraft Engine Seals Market by Aircraft Type, by Application Type, by Material Type, Motion Type, by Function Type, and by Region, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025|
|出版日期: 2020年05月12日||內容資訊: 英文 264 Pages||
Aircraft Engine Seals Market by Aircraft Type (Commercial Aircraft, Regional Aircraft, Helicopter, Military Aircraft, and General Aviation), by Application Type (Nacelle, Oil & fuel systems, Fan Blade, Combustion & Exhaust Section, and Others), by Material Type (Polymer Seals, Metal Seals, and Composite Seals), Motion Type (Static Seals and Dynamic Seals), by Function Type (Fire Seals, Air & Fluid Handling Seals, Conductive & Insulative Seals, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.
Aircraft engines have immensely evolved throughout the journey of the aircraft industry as they play the most pivotal role in an aircraft. Most of the innovations happening in an aircraft engine are primarily targeting three areas: more power, more durability, and more efficiency. Almost all the engine systems and their components have had a disruptive journey with significant changes in design, technology, and materials. Seals are also not untouched with such market dynamics and have experienced significant changes in design and material over the period.
In the year 2020, the aircraft engine seals market is estimated to witness its biggest decline in the past 16 years, mainly due to the rapid outbreak of the COVID-19 pandemic. The aircraft industry was already under immense pressure due to several factors ceasing the market growth including the grounding of the B737 Max. The rapid spread of the pandemic further deteriorated the industry's health, severely affecting the entire industry ecosystem including aircraft engine seals. As per the recent impact assessment of IATA, (14 April 2020), the total global passenger airline revenue could plummet around US$ 314 billion which is 55% below 2019's revenue.
Despite the short-term demand fiasco, the long-term growth prospects still seem favorable, credit goes to the strong market fundamentals (a huge pile of backlogs of Boeing, Airbus, and COMAC, expected increase in air passenger traffic, development of next-generation aircraft, etc.). The market is anticipated to rebound from 2021 onwards, ultimately driving the market to touch the landmark figure of US$ 0.35 billion in 2025. LEAP engines are the sweet spots for the market. Safran/CFM significantly increased its LEAP engine deliveries to 1,736 engines in 2019 from merely 1,118 engines in 2018. The company aims to manufacture lower volumes of 1,400 LEAP engines in 2020 because of the ongoing B737 Max crisis.
Stratview has firstly segmented the aircraft engine seals market based on the aircraft type as commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. Commercial aircraft is expected to maintain its huge lead in the aircraft engine seals market in the foreseeable future. The year 2020 is likely to experience a massive decline in the commercial aircraft segment, owing to several factors including the outbreak of coronavirus, US-china trade war, and ongoing aerospace industry challenges such as the B737 max grounding, delays in B777x, C919, and MC-21 market entries, failure of Pratt & Whitney's 1100 engines, and revised production rates of key aircraft programs; A350XWB and B787.
However, the long-term outlook still seems positive with a plethora of opportunities for the market participants. Both, Boeing and Airbus, are still hoping positive long-term market outlook. Boeing Outlook: 50,660 commercial and regional aircraft fleet by 2038 from 25,830 units in 2018, growing at a CAGR of 3.4%. Similar forecast for Airbus: 47,684 commercial and regional aircraft in 2038, from 22,682 units in 2018.
Based on the application type, the aircraft engine seals market is segmented as nacelle, oil & fuel systems, fan blade, combustion & exhaust section, and others. The nacelle is expected to remain the dominant segment of the market over the next five years. Seals used in nacelles must comply with the ISO 2865 and AC 20-135 standards, which require them to resist flame and temperatures up to 1,100o C for at least 15 minutes. Fire seals are commonly used in nacelles, among the most challenging application areas of aircraft seals at present.
Based on the material type, the aircraft engine seals market is segmented as polymer seals, metal seals, and composite seals. Polymer seal is expected to remain the largest segment of the aircraft engine seals market, whereas composite seals are expected to experience the highest growth during the forecast period. Elastomers dominate the polymer seals market, owing to their ability to contract 10 times more than steel along with increased flexibility in low temperatures.
Analogously, the study's outcome on different function types evinces that fire seals are the most dominant function type among fire seals, conductive and insulative seals, air & fluid handling, and others. Fire seals are commonly tested to ISO 2685 and AC20-125, which ensure whether seals can withstand flame up to 1,100oC for at least fifteen minutes without getting destroyed. The development of high thrust engines to enhance the performance of engines, such as fuel efficiency and noise reduction, is demanding for high-temperature-resistant fire seals in various sections of engines, such as fuel management and bleed air.
In terms of regions, North America is projected to remain the largest market during the forecast period, whereas Asia-Pacific is expected to remain the fastest-growing market during the same period. Short-term market demand is challenging across regions including Asia-Pacific. Based on IATA estimates, airlines in the Asia-Pacific region are likely to lose about US$ 113 billion in passenger revenues in 2020 from 2019 level. The long-term market outlook seems promising. As per Boeing's estimations (2019-2038), China will need 8,090 commercial aircraft in the next twenty years, 5.2% higher than the company's last year forecast. 74% of these deliveries will be of single-aisle aircraft.
The supply chain of this market comprises raw material suppliers, aircraft engine seals manufacturers, distributors, tier players, engine OEMs, aircraft OEMs, and MRO companies. The key aircraft engine seals manufacturers are Hutchinson SA, Trelleborg AB, Meggitt PLC, TransDigm Group Inc., Freudenberg Group, Applied Composites Group Ltd., Icon Aerospace Technology Ltd., Eaton Corporation Plc, Parker-Hannifin Corporation, Greene Tweed, EnPro Industries, Saint- Gobain S.A., and SKF Group.
The market's attractiveness has led to a series of acquisitions by big players acquiring small players, leading to greater market consolidation.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. About 15 detailed primary interviews with the market players across the value chain in all major regions and industry experts have been executed to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. 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.
The following are the key features of the report: