Dublin, Sept. 13, 2021 (GLOBE NEWSWIRE) -- The "Aircraft O-Rings Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026" report has been added to ResearchAndMarkets.com's offering.
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. O-ring is one of the most common seals mainly used for static applications. O-ring is one of the simplest forms of mechanical design and is easy to manufacture into various grades and materials, such as elastomers, thermoplastics, and metals. It can be manufactured through various processes, such as extrusion, injection molding, pressure molding, or transfer molding.
The booming aerospace industry was first hit by the grounding of the B737Max in 2019. In 2020, the pandemic worsened the industry challenges, causing unimaginable disruption and losses for the stakeholders. The aircraft O-rings market followed suit and logged a massive decline of -28.2% in 2020, creating a lag of more than 5 years in the market.
Strong fundamentals of the industry, such as a huge pile of order backlogs of Boeing and Airbus; market entry of new and variants of the existing aircraft programs, B777X, A321XLR, C919, and MC-21; resumption of production of B737MAX and A220, will surely help the industry stakeholders including O-ring manufacturers to mark a healthy recovery from the pandemic. The market to recoup at a promising rate of 7.8% to reach US$ 145 Million in 2026.
Based on the aircraft type, the aircraft O-rings market is segmented as commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. Despite experiencing a huge nose-dive in 2020, commercial aircraft is expected to remain the largest and fastest-growing market segment during the forecast period. Increasing production rates of best-selling aircraft programs, market entry of new players, such as COMAC and Irkut, and resumption of B737Max production are some of the key factors propelling the demand for O-rings in the commercial aircraft segment.
Based on the application type, the market is segmented as nacelles & engines, interiors, landing gear, wheels and brakes, flight control actuation and hydraulics, and others. Interiors are expected to remain the largest segment of the market during the forecast period. High use of static applications in aircraft interiors leads to higher adoption of O-rings. O-rings used for aircraft interiors must address the key properties such as fire retardancy and aesthetically pleasant.
The market is segmented as elastomeric seals, thermoplastic seals, and metallic seals based on the material type. Elastomer is expected to remain the most dominant material type in the market during 2021-2026. Elastomer O-rings offer a gamut of advantages including high-and-low-temperature operating conditions, greater flexibility, excellent corrosion resistance, and insulative property. Thermoplastic seals are likely to grow at the fastest pace, driven by their greater acceptance in the high-performance application owing to their excellent resistance against abrasion, wear, extrusion, and temperature.
North America is expected to remain the largest market for aircraft O-rings during the forecast period in terms of regions. The USA is the growth engine of the region's market with the presence of major aircraft OEMs, tier players, and raw material suppliers. Most of the O-ring suppliers have their presence in the region to address the emergent needs of OEMs and to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Asia-Pacific is likely to recover at the fastest rate, witnessing the highest growth during the same period. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus for multiple aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous aircraft, C919.
The market for aircraft O-rings is highly fragmented with the presence of a large number of global and regional players. Most of the major players, such as Parker-Hannifin Corp., Freudenberg Group, and Trelleborg AB, are well diversified with the presence in a large variety of seals serving several end markets. The supply chain of this market comprises several nodes including raw material suppliers, aircraft O-ring manufacturers, tier players, distributors, aircraft and engine OEMs, airlines, and MRO companies. The following are the key players in the aircraft O-rings market.
Greene Tweed & Co., Inc.
The development of durable O-rings for critical applications, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to maintain a competitive edge in the market.
Key Topics Covered:
1. Executive Summary
2. Aircraft O-Rings Market Overview and Segmentation
2.1. Aircraft O-Rings Market Segmentation
2.1.1. By Aircraft Type
2.1.2. By Application Type
2.1.3. By Material Type
2.1.4. By Motion Type
2.1.5. By End-User Type
2.1.6. By Region
2.2. PEST Analysis
2.3. Supply Chain Analysis
2.4. Industry Life Cycle Analysis
2.5. Market Drivers
2.6. Market Challenges
3. Aircraft O-Rings Market - The COVID-19 Impact Assessment
3.1. Aircraft O-Rings Market Trend and Forecast (US$ Million)
3.2. Pre-COVID vs Post-COVID Assessment
3.3. Real GDP Loss vs Aircraft O-Rings Market Loss (2020-2021)
3.4. Market Scenario Analysis: Pessimistic, Most Likely, and Optimistic Scenarios
3.5. Market Segments' Analysis (US$ Million)
3.6. Regional and Country-Level Analysis (US$ Million)
4. Competitive Analysis
4.1. Market Consolidation Level
4.2. Regional Competitive Dynamics
4.3. Market Share Analysis
4.4. Product Portfolio Analysis
4.4.1. By Material Type
4.5. Geographical Presence
4.6. New Product Launches
4.7. Strategic Alliances
4.8. Porter's Five Forces Analysis
5. Aircraft O-Rings Market Trend and Forecast by Platform Type (2015-2026)
5.1. Segment's Analysis
5.2. Commercial Aircraft: Regional Trend and Forecast (US$ Million)
5.3. Regional Aircraft: Regional Trend and Forecast (US$ Million)
5.4. Helicopter: Regional Trend and Forecast (US$ Million)
5.5. Military Aircraft: Regional Trend and Forecast (US$ Million)
5.6. General Aviation: Regional Trend and Forecast (US$ Million)
6. Aircraft O-Rings Market Trend and Forecast by Application Type (2015-2026)
6.1. Segment's Analysis
6.2. Nacelles & Engines: Regional Trend and Forecast (US$ Million)
6.3. Interiors: Regional Trend and Forecast (US$ Million)
6.4. Landing Gear, Wheels, and Brakes: Regional Trend and Forecast (US$ Million)
6.5. Flight Control Actuation and Hydraulics: Regional Trend and Forecast (US$ Million)
6.6. Others: Regional Trend and Forecast (US$ Million)
7. Aircraft O-Rings Market Trend and Forecast by Material Type (2015-2026)
7.1. Segment's Analysis
7.2. Elastomeric Seals: Regional Trend and Forecast (US$ Million)
7.3. Thermoplastic Seals: Regional Trend and Forecast (US$ Million)
7.4. Metallic Seals: Regional Trend and Forecast (US$ Million)
8. Aircraft O-Rings Market Trend and Forecast by Motion Type (2015-2026)
8.1. Segment's Analysis
8.2. Static Seals: Regional Trend and Forecast (US$ Million)
8.3. Dynamic Seals: Regional Trend and Forecast (US$ Million)
9. Aircraft O-Rings Market Trend and Forecast by Material Type (2015-2026)
9.1. Segment's Analysis
9.2. OE: Regional Trend and Forecast (US$ Million)
9.3. Aftermarket: Regional Trend and Forecast (US$ Million)
10. Aircraft O-Rings Market Trend and Forecast by Region (2015-2026)
11. Strategic Growth Opportunities
11.1. Market Attractiveness Analysis
11.1.1. Market Attractiveness by Aircraft Type
11.1.2. Market Attractiveness by Application Type
11.1.3. Market Attractiveness by Material Type
11.1.4. Market Attractiveness by Motion Type
11.1.5. Market Attractiveness by End-User Type
11.1.6. Market Attractiveness by Region
11.1.7. Market Attractiveness by Country
11.2. Emerging Trends
11.3. Growth Matrix Analysis
11.4. Strategic Implications
11.5. Key Success Factors (KSFs)
12. Company Profile of Key Players (Alphabetically Arranged)
12.1. EnPro Industries
12.2. Freudenberg Group
12.3. Greene Tweed & Co., Inc.
12.4. Hutchinson SA
12.5. Parker-Hannifin Corporation
12.6. Saint-Gobain S.A.
12.7. Trelleborg AB
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