Aerospace & Defence Elastomers Market Scope
The global aerospace and defense elastomers market is expected to grow at a significant rate during the forecast period, according to the AMA study. The growing number of aircraft production and deliveries worldwide and the rising demand for aircraft periodic maintenance & aftermarket requirements is expected to be the major factors aiding into the growth of the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Dow (United States), Greene, Tweed (United States), LANXESS (Germany), Momentive (United States), Saint-Gobain Performance Plastics (France), Shin-Etsu Chemical Co., Ltd (Japan), Solvay (Belgium), The Chemours Company (United States), Transdigm Group, Inc. (United States), Trelleborg Group (Sweden) and Wacker Chemie AG (Germany) |
CAGR | % |
The vendors in this market are majorly focusing on developing new and innovative aerospace & defense elastomer products to cater to the industry demands in order to remain competitive in the global market. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Aerospace & Defence Elastomers market throughout the predicted period.
Dow (United States), Greene, Tweed (United States), LANXESS (Germany), Momentive (United States), Saint-Gobain Performance Plastics (France), Shin-Etsu Chemical Co., Ltd (Japan), Solvay (Belgium), The Chemours Company (United States), Transdigm Group, Inc. (United States), Trelleborg Group (Sweden) and Wacker Chemie AG (Germany) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Aerospace & Defence Elastomers market by Type , by Application (Fuselage, Avionics, Airframe, Engine and Others) and Region with country level break-up.
On the basis of geography, the market of Aerospace & Defence Elastomers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In April 2019, Dow announced that it has completed its seperation from DowDuPont which was previously established as a merger between two companies i.e. The Dow Chemical Company and DuPont in 2015.
In October 2019, Dow announced that it has expanded its product family of NORDEL EPDM elastomer by launching two new variants NORDEL 4590 EPDM and NORDEL 4750 OE EPDM at International Elastomers Conference (IEC) 2019.
Influencing Trend:
Rising Electrification of Aircraft Programs and Introduction of Fuel-Efficient Aircraft such as A320neo & B737-Max
Market Growth Drivers:
The Rising Global Aircraft Production & Deliveries and Growing Demand for Periodic Maintenance & Aftermarket Requirements
Challenges:
The Outbreak of COVID-19 Affecting Airlines Industry Leading to Cancellation of International & Domestic Flights is Expected to be One of the Major Challenge for Short-Period of Time
Restraints:
Suspended Ordered Production of B737-Max due to Some Fatal Accidents
Opportunities:
Expected Deliveries of More Than 38,000 Commercial Aircraft During the Next 20 Years will Create Huge Opportunities for Market Vendors During the Forecast Period
Key Target Audience
Government regulatory authorities, End User Industry, Customer and Others