The Aerospace & Defense Elastomers Market was $ 57.61 million in 2022 and is expected to be around $ 76.01 million in 2028 with a current CAGR of 7.1%
Increased investments in aerospace & defense by many emerging countries such as India, China, and South Korea have boomed the growth of the market. The drive to improve defense & aerospace industries through technology transfer has aggravated the market players to invest in this sector.
With the increase in technological advancement, the aerospace industry has seen rapid growth & is expected to grow more in the forecast period (2020 – 2025). Many developed countries such as the United States of America, Canada, Germany, Japan, France & Spain have also invested heavily in aerospace technologies.
The rise in defense budgets of various grown & growing economies has also given a push to the growth in the market. The lack of knowledge of technological advancements has been an inhibiting factor for market growth. One more factor responsible for the downswing in the growth of the market is that the Aerospace industry is cyclic in nature thereby causing fluctuations in the market.
REPORT METRIC |
DETAILS |
Market Size Available |
2022-2028 |
Base Year |
2022 |
Forecast Period |
2023-2028 |
CAGR |
7.1% |
Segments Covered |
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Various Analyses Covered |
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 |
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Market Leaders Profiled |
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Aerospace & Defense Elastomers Market-By Type:
Silicone Elastomers
Fluoroelastomers
Seals
Profiles
Hoses
North America is expected to grow the fastest and holds the largest volume & size within the market. Unites the States of America is the largest consumer of Aerospace & Defense Elastomers. The presence of large manufacturing in this region is also one of the reasons for the expected growth.
Recent Developments:
Aerospace & Defense Elastomers Market key market players:
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)
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