Global Aerospace & Defense Elastomers Market is segmented By Type (EPDM, Fluoroelastomers, Silicone Elastomers), By Application (O-Rings & Gaskets, Seals, Profiles, Hoses), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Aerospace & Defense Elastomers Market, Size, Demand Insights
The report on aerospace & defense elastomers analyses the market size, shares, recent trends, competitive intelligence, and future market outlook. Aerospace & defense elastomers usage in a wing is on the rise. Demand from the aviation industry in ‘Asia Pacific is rising. The competitive rivalry intensifies with Trelleborg, Dow Corning, Greene, Tweed, and others active in the market.
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 global aerospace and defense elastomers market is divided into type and application. By type aerospace & defense elastomers market is segmented into EPDM, Fluoroelastomers, and Silicone Elastomers, by application the market is divided into O - Rings & Gaskets, Seals, Profiles, and hoses. Whereas by geography the market is divided into North America, South America, Europe, Asia Pacific, and the Rest of the World.
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 with new aircraft is also expected to drive the growth of the aerospace & defense elastomers market across the globe.
Aerospace & Defense Elastomers Market Scope and Summary
Metrics |
Details |
Market CAGR |
High |
Segments Covered |
By Type, By Application, and By Region |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
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Aerospace & Defense Elastomers Market Dynamics and Trends
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 with 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.
Both the leading aircraft manufacturers delivered a record number of aircraft in 2017, moving forward the air fleet is anticipated to double compared to current levels, that is air fleet size is expected to reach 50,660 fleet size by 2038 from the current 25,830 levels in 2021. Therefore the robust growth in the aircraft manufacturing industry is set to drive the aerospace elastomers' demand.
Aerospace & Defense Elastomers Market Segmentation and Shares Analysis
By application, the aerospace & defense elastomers market is segmented into o - rings & gaskets, seals, profiles, and hoses. The global aerospace & defense elastomers market size by O-rings & gaskets application was worth USD YY million in 2021 and is estimated to reach USD YY million by 2030, at a CAGR of 5.4% during the forecast period. Elastomers for o-ring & gasket application are expected to grow with a high CAGR rate in the forecast period.
The equipment that is used in the aerospace industry is 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, and actuator. and flight control sealing such as hydraulics, fuel lines, connectors, lubrication, and fuel system seals.
Aerospace & Defense Elastomers Market Geographical Analysis
The Asia Pacific aerospace & defense elastomers market size was worth USD YY million in 2021 and is estimated to reach USD YY million by 2030, at a CAGR of YY % during the forecast period.
Economic growth and rising incomes across the region, followed by government incentives to aircraft manufacturers are making companies invest in the aircraft manufacturing industry, therefore simultaneously engineering materials such as elastomers.
For instance, In December 2021 Boeing opens first 737 plants in eastern China, aiming to deliver 100 Boeing 737 planes a year. The plant is being set up amid a 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 aid demand for one of the aircraft building component such as PU film.
The leading national markets for aerospace & defense elastomers in the region including by size are China, Japan, India, and South Korea.
While Boeing Co. of the United States and other major international aircraft makers are moving to build manufacturing bases in Southeast Asia, Thailand, and Malaysia are eager to attract industries from overseas, in the hope of developing their economies. This is presenting opportunities for small and midsized Japanese companies that manufacture airplane parts or provide other services to start operations in the region.
Thailand is planning to build a base for aircraft maintenance, repair, and overhaul (MRO) 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 is expected to drive defense sector growth in the region.
Over the next 20 years, China could require 7,690 new commercial aircraft worth US$1.2 trillion. The country is the second-largest defense-spending nation after the United States. China’s 2021 defense budget grew 8.1 percent year over year to US$175 billion, which is the largest increase in the past three years. Moving ahead the country’s defense expenditure is projected to grow in the range of 9 to 10 percent shortly.
While India's 2021–19 defense budget for the country stood at US$43.8 billion, a 7.7 percent increase compared to the previous year's budget.
Therefore the growth of aerospace & defense elastomers end-user industries in the region will make the Asia Pacific region a key market area for the Aerospace & Defense Elastomers industry.
Aerospace & Defense Elastomers Companies and Competitive Landscape
The Aerospace & Defense Elastomers market is highly competitive with existing players in the market. Some of the major players include Trelleborg, Dow Corning, Greene, Tweed, The Chemours Company, Wacker Chemie AG, Momentive, Solvay, James Walker, SKF
Companies are focusing to extend their market shares through acquisitions and facility expansions.
In April 2019 Parker Hannifin Corporation has entered into a definitive agreement to acquire LORD Corporation in a strategic transaction that significantly expands the engineered materials business.
In March 2019 TransDigm Group Incorporated acquires Esterline Technologies Corporation, Esterline Corporation is a leading worldwide supplier to the aerospace and defense industry specializing in three core business segments such as advanced materials, avionics & controls, and sensors systems.
