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In 2022, the Aerospace & Defense Elastomers Market reached $57.62 million, and it is projected to reach approximately $76.02 million by 2028, showcasing a current Compound Annual Growth Rate (CAGR) of 7.10%.
The market has experienced significant growth due to increased investments in aerospace and defense by emerging countries like India, China, and South Korea. The pursuit of enhancing defense and aerospace industries through technology transfer has incentivized market players to invest in this sector. The aerospace industry, fueled by technological advancements, has witnessed substantial growth and is expected to continue expanding from 2020 to 2025. Developed nations such as the United States, Canada, Germany, Japan, France, and Spain have also made substantial investments in aerospace technologies.
The market growth is further propelled by the rise in defense budgets among various mature and emerging economies. However, challenges include a lack of awareness about technological advancements, and the cyclic nature of the aerospace industry leading to market fluctuations.
Market Size Range: 2022-2028
Base Year: 2022
Forecast Period: 2023-2028
Segments: By Type, By Application, By Region
Various Analyses: Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
Regions Covered: North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Market Leaders Profiled: Trelleborg, Shin–Etsu Chemicals, Dow Corning, Wacker Shime, Momentive, Saint–Gobain, Solvay, Tweed, Chemours
· By Type: Silicone Elastomers, Fluoroelastomers
· By Application: Seals, Profiles, Hoses
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa
North America is anticipated to grow rapidly and maintain the largest volume and market size, with the United States being the leading consumer of Aerospace & Defense Elastomers. The region's robust manufacturing presence contributes to the anticipated growth.
A method was recently developed to determine the ethylene-vinyl acetate (EVA) percentage in a blend with ethylene–propylene–diene elastomer (EPDM), improving aerospace material quality.
Nano-Silica and Graphene were found to enhance recycled rubber composites, improving toughness and tribological behavior.
Low-cost DE vulcanized recycled rubber composites were developed, tested for aeronautical engineering purposes, and showed improved critical energy release and fracture toughness stress intensity factors.
· Trelleborg (Sweden)
· Shin–Etsu Chemicals (Japan)
· Dow Corning (United States of America)
· Wacker Shime (Germany)
· Momentive (United States of America)
· Saint–Gobain (France)
· Solvay (Belgium)
· Tweed (United States of America)
· Chemours (United States of America)
In 2022, the Aerospace & Defense Elastomers Market reached $57.62 million, and it is projected to reach approximately $76.02 million by 2028
The global market is projected to grow at a CAGR of 7.10% during the forecast period, 2023-2032.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65422
Published on :
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