The Aircraft Interior Elastomers Market is expected to reach $45.5 Million by 2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Aircraft Interior Elastomers Market
The COVID-19 pandemic has worsened the already troubled aerospace industry, which was expected to be recovering from some burning challenges from the second half of 2020 with FAA’s approval to Boeing for B737 max. Aircraft elastomers business could not escape itself from this changing market conditions and are estimated to witness a humongous decline in 2020, mainly due to the pandemic. Airlines are either canceling their orders or requesting airframers to delay the aircraft deliveries, which, in turn, heavily impacting the business of OEMs, tier players, as well as raw material suppliers including elastomers for aircraft interiors.
However, the long-term outlook is still promising with rebounding growth opportunities across regions. Boeing in its 2019-2038 outlook, anticipated the total new commercial and regional aircraft deliveries to be 44,040 aircraft units during 2019-2038. Similarly, Airbus anticipated the 39,210 commercial and regional aircraft deliveries during the same period, asserting a positive comeback in the demand from 2021 onwards, ultimately driving the market to reach US$ 45.5 million in 2025.
Despite severely hit the aerospace industry in the USA because of the COVID-19 pandemic, it seems that North America will maintain its dominance in the aircraft interior elastomers during the forecast period. The USA has one of the largest fleets of commercial aircraft in the world. Due to the presence of major companies, the region is the early go-getter in the industry concerning technology and material adoption. The opening of assembly plants of the A320 and A220 aircraft programs by Airbus in the USA further assures a healthy growth of the market in the region in the long run.
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Market Scope & Segmentation
Aircraft Interior Elastomers Market Share by Platform Type
The aircraft interior elastomers market is segmented based on the platform type as commercial aircraft, regional aircraft, and general aviation. Commercial aircraft is further sub-segmented into narrow-body aircraft, wide-body aircraft, and very large aircraft. Commercial aircraft is expected to remain the largest as well as the fastest-growing segment of the market during the forecast period. Strong order backlogs of the best-selling aircraft programs, such as B737 and A320 including their variants; upcoming aircraft programs, such as C919 and MC-21 are likely to revive the market, in the long run, creating a healthy demand for elastomers in the commercial aircraft segment.
Aircraft Interior Elastomers Market Share by Material Type
Based on the material type, the market is segmented as ethylene propylene diene monomer (EPDM), silicone, fluoroelastomers, nitrile rubber (NBR), polychloroprene or neoprene (CR), and others. Silicone is expected to remain the largest segment of the market during the forecast period, propelled by its outstanding properties. Silicone offers excellent heat resistance, cold flexibility, dielectric properties, and good resistance to oxygen and ozone; and have operating temperatures ranging between -60°C and 200°C. Silicone elastomers are replacing neoprene in many aviation seals as it is up to 15% lighter. Furthermore, there have been advancements in silicone polymers, resulting in even lighter grades as compared to the existing ones.
Aircraft Interior Elastomers Market Share by Product Type
Based on the product type, the market is segmented as seals, gaskets, hoses & tubes, and others. Gaskets are likely to remain the most dominant segment of the market during the forecast period. Gaskets serve environmental sealing purposes, pressure retaining, vibration damping, fire-resistant or fireproof, and EMI/RFI shielding. They are mostly produced via an extrusion process. In aircraft interiors, gaskets are majorly used in doors & windows, sidewall panels, ceiling panels, galleys, and lavatories.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.