The demand for detailed precision and durability in aircraft will drive aerospace insulation market outlook worldwide. There are rapid developments in aircraft manufacturing industry to cater to the growing demand for air travel. Globalization and surging international trade are the major factors responsible for expansive demand for global connectivity. Air transport carries more than 90% of cross border B2C e-commerce and accounts for 35% of world trade by value.
Growth in regional and commercial aircraft fleet will further boost fuel aerospace insulation businesses globally. Developing economies are also generating heavy demand for low-cost carriers. According to International Air Transport Association (IATA), Asia Pacific region will drive the global aviation sector in the next two decades as the region is estimated to add-up over half new of the already existing air passengers.
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High demand for acoustic insulation in aircraft -
Acoustic insulation plays a very vital role to reduce the outer noise level caused by engines and aerodynamics, and this segment is expected to surpass annual revenues US$375 million by 2026.
Fiber glass is extensively used to maintain aircraft’s core strength that comprises of interior fuselage structure. With rising demand for aircraft manufacturing and substantial uses of materials and equipment used in it, such as thermal and acoustic insulation will trigger aerospace insulation market growth in forecasted time period.
Impact of rotary and fixed wing aircraft segments -
The aircrafts with rotary wings fly at lower altitude as compared to fixed wings aircrafts that fly at higher altitude. As per the forecast, revenues for aerospace insulation market from rotary wing aircraft is expected to expand at a CAGR of 7.5% from 2020 to 2026. In both developed and developing countries, the helicopter fleet size is mostly driven by the military and defense applications.
Rising demand and usage in ancillary ground support equipment, cabin and interior application, noise control insulation material for thermal and acoustic application will propel the product adoption across fixed wing aircraft.
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Europe aerospace insulation market share accounted for USD 980 million in 2019. The robust growth can be attributed to rise air traffic as well as ongoing research & development in the regional aerospace sector over the past few years. Increasing focus on expanding passenger carrier fleets will favor regional growth over the coming years.
Key enterprises and manufacturers in the aerospace insulation market include 3M, Hutchinson BASF SE, AVS Industries, Boyd Corporation, Evonik Industries, Elmelin Ltd., Johns Manville, Duracote Corporation, Tecno Group, Esterline Technologies Corporation and DuPont, among others.
Major Key Points from Table of Content:
Chapter 5 Aerospace Insulation Market, By Material
5.1 Market share by material, 2019 & 2026
5.2 Foamed plastics
5.2.1 Market estimates and forecast, 2016 – 2026, (Tons) (USD Million)
5.2.2 Market estimates and forecast, by region, 2016 – 2026, (Tons) (USD Million)
5.3 Ceramic material
5.3.1 Market estimates and forecast, 2016 – 2026, (Tons) (USD Million)
5.3.2 Market estimates and forecast, by region, 2016 – 2026, (Tons) (USD Million)
5.4 Fiber glass
5.4.1 Market estimates and forecast, 2016 – 2026, (Tons) (USD Million)
5.4.2 Market estimates and forecast, by region, 2016 – 2026, (Tons) (USD Million)
5.5 Mineral wool
5.5.1 Market estimates and forecast, 2016 – 2026, (Tons) (USD Million)
5.5.2 Market estimates and forecast, by region, 2016 – 2026, (Tons) (USD Million)
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