Aerospace & Defence Elastomers Market to Grow with a CAGR of 4.73% through 2028
Growth of research and development activities are expected
to drive the Global Aerospace & Defence Elastomers Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Aerospace
& Defence Elastomers Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global
Aerospace & Defence Elastomers Market stood at USD 72.34 million in 2022 and
is anticipated to grow with a CAGR of 4.73% in the forecast period, 2023-2028.
The initiatives taken by government based on aerospace & defence elastomers
has led to favorable market conditions for the Global Aerospace & Defence
Elastomers Market. Several factors contribute to the growth of various aerospace
& defence elastomers products.
Government initiatives play a crucial and influential
role in shaping the aerospace and defense industry. The policies and
regulations set by governments can have a profound impact on the demand for
materials, including elastomers, which are vital components in this sector. For
instance, governments worldwide are making substantial investments in the
defense and aerospace sectors to bolster their national security and enhance
their technological capabilities. These investments encompass not only the procurement
of advanced materials like elastomers but also the development of cutting-edge
equipment and technologies.
By fostering innovation and collaboration, governments
aim to strengthen their domestic industries, attract foreign investments, and
maintain a competitive edge in the global aerospace and defense landscape. The
continuous support and strategic planning from governments provide a solid
foundation for sustained growth and progress in this critical sector.
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Elastomers, highly regarded for their exceptional
flexibility, durability, and remarkable resistance to heat and chemicals, play
a vital role in the aerospace and defence industry. These versatile materials
find extensive application in critical components, including seals, gaskets,
hoses, and more, where their unique properties are indispensable.
In recent years, research, and development activities
in the field of elastomers have been on the rise, driven by the objective of
enhancing their properties and formulating novel compositions. These endeavors
primarily focus on elevating the resistance of elastomers to extreme temperatures,
chemicals, and abrasion, enabling them to withstand the rigorous demands of
aerospace and defence applications. The relentless pursuit of innovation aims
to ensure optimal performance and longevity even under the harshest conditions.
Furthermore, the ongoing efforts in research and
development are not limited to improving existing applications but also seek to
explore new frontiers in which elastomers can excel. One such emerging field is
the utilization of elastomers in 3D printing applications. Pioneering
investigations are underway to harness the unique capabilities of elastomers
for additive manufacturing, opening up exciting possibilities for customized
and complex elastomeric structures.
These advancements in elastomer technology are poised
to revolutionize the aerospace and defence industry, offering enhanced
performance, greater reliability, and increased design flexibility. With
ongoing research and discoveries, the future holds immense potential for the
continued evolution and diversification of elastomer applications, further
solidifying their indispensable role in cutting-edge industries.
The Global Aerospace & Defence Elastomers Market
is segmented into type, application, regional distribution, and company.
Based on its type, the Fluoroelastomers segment held
the largest share in the market. The exceptional resistance to heat and
weathering exhibited by fluoroelastomers, along with their outstanding sealing
and mechanical properties, have made a substantial impact on the market. As a
result, fluoroelastomers are increasingly being adopted in critical
applications such as aircraft engines and fuel handling systems, where their
reliability and durability are of utmost importance. This trend has led to a
significant expansion of their presence in the aviation sector, paving the way
for enhanced performance and safety in aerospace operations.
Based on region, North America segment is expected to
grow during the forecast period.
The enhanced utilization of aerospace and defense
elastomers in the aviation industry in North America, coupled with the ongoing
upgrade and improvement of existing aviation infrastructure in countries like
the United States, are anticipated to play a pivotal role in driving the growth
of the Aerospace and Defense Elastomers Market in this region. These
elastomers, renowned for their exceptional mechanical properties and resistance
to harsh environmental conditions, are increasingly being adopted in various
applications such as aircraft seals, gaskets, O-rings, and vibration damping
components. The demand for aerospace and defense elastomers is further
bolstered by the continuous advancements in material science and engineering,
leading to the development of novel elastomer formulations that offer enhanced
performance and durability. Hence, the Aerospace and Defense Elastomers Market
in North America is poised for significant expansion, driven by the increasing
emphasis on safety, efficiency, and sustainability in the aviation sector.
Major companies operating in Global Aerospace &
Defence Elastomers Market are:
- Saint-Gobain Limited
- LANXESS AG
- Solvay SA
- Dow Corning Ltd
- Greene Inc
- The Chemours Company
- Wacker Chemie AG
- Trelleborg AB
- Momentive Performance Materials Inc
- 3M Company
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“Growing application of aerospace & defence elastomers
in various end user industries are key drivers of the aerospace & defence elastomers
market. Growth in competitive landscape and presence of well-established companies
in the market who are dedicated to enhance their productivity of aerospace
& defence elastomers with every passing year are anticipated to register an
impressive growth to Global Aerospace & Defence Elastomers Market in the
forecast period.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Aerospace & Defence Elastomers Market By Type (EPDM,
Fluoroelastomers, Silicone Elastomers, Others), By Application (O-Rings &
Gaskets, Seals, Profiles, Hoses, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Aerospace & Defence Elastomers Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Aerospace & Defence Elastomers
Market.
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