The Worldwide Aerospace Insulation Industry is Expected to Reach $7.6 Billion by 2028: Increase in Demand for Lightweight Insulation Materials Drives Growth
DUBLIN, Feb. 9, 2023 /PRNewswire/ — The “Aerospace Insulation Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product, Insulation Material, Aircraft Type, and Application” report has been added to ResearchAndMarkets.com’s offering.
The aerospace insulation market is expected to grow from US$ 5,731.28 million in 2022 to US$ 7,633.23 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2022 to 2028.
Passengers’ and flight crew’s comfort and safety are ensured by adequate regulation of the atmosphere within an aircraft. Temperatures on the fuselage skin may fluctuate from -60F in flight to 160F while parked in bright sunlight, posing a hazard to the interior of the cabin temperature. Furthermore, the aircraft’s engine and aerodynamics of flight produce a significant quantity of noise, which can be uncomfortable for crew and passengers if sufficient insulation is not provided.
Enhanced user safety owing to materials’ low thermal conductivity is expected to further fuel the market growth. Moreover, an increase in demand for lightweight insulation materials is a key factor expected to drive the aerospace insulation market during the forecast period.
Additionally, there is an increase in the use of composite materials to manufacture aircraft. These materials include fiber-reinforced polymer, ceramic composites, and metal composites. These materials are combined to make a composite that has flexibility, high strength, and is lightweight compared to steel or aluminum. Furthermore, these composites are corrosion-resistant, which keeps the covers of an aerostructure tight under any weather condition.
Based on insulation material, the market is segmented into mineral wool, ceramic-based materials, foamed plastics, and fiberglass & others. The ceramic-based materials segment led the market in 2021. However, mineral wool is expected to register the highest CAGR during the forecast period.
Qualities of ceramic-based material such as lightweight, high-temperature resistance, electrical insulation, high energy of ablation, resistance to corrosion, wear resistance, chemical stability, and ability to withstand vibration led to the segment’s dominance in 2021. Further, mineral wool insulation is fireproof and does not conduct heat. Due to this, it is very fit for environments with high demands on fire safety, such as aircraft insulation.
The aerospace insulation market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SCAM), and the Middle East and Africa (MEA). In 2021, North America dominated the market. The presence of various large aircraft manufacturers, such as Boeing, has increased the demand for aerospace insulation for aircraft manufacturing, leading to North America’s dominance in the aerospace insulation market.
The COVID-19 pandemic adversely affected the aerospace insulation market growth in 2020 due to the shutdown of manufacturing facilities and restrictions on transportation and logistics. Disruptions in supply chains also hampered the supply of aerospace insulation material to aircraft manufacturers. Manufacturers introduce extensive modifications to their processes to comply with national and regional guidelines to protect employees from the COVID-19 infection.
Many global manufacturers temporarily paused their operations or allowed production processes with limited employee strength. The pandemic situation impacted the aerospace and aviation industry severely. Airlines were impacted hard as passenger traffic slumped due to global and regional travel restrictions.
Many financially hit airlines, such as Norwegian Air, cancelled the orders for new aircraft. US-based aircraft manufacturer Airbus saw a drop in aircraft delivery by 34% in 2020. Moreover, according to the International Air Transport Association (IATA), the global aviation industry witnessed a total revenue loss of more than US$ 400 billion due to air travel restrictions in major countries.
Further, various economies re-started their operations as the governments announced relaxation in the previously imposed restrictions, the aerospace insulation market is expected to witness positive growth as manufacturers are permitted to operate at full capacity, and the supply chains are getting better. Additionally, government funding to financially hit airlines and aircraft manufacturers is expected to propel the growth of the aerospace insulation market. For instance, France’s aerospace industry received US$ 16.9 billion in government support in 2020. A program of investment and loans intended to preserve jobs during a severe downturn is expected to support Air France, Airbus, and smaller other aerospace-related companies.
3M; TransDigm Group Incorporated; Triumph Group, Inc.; Johns Manville; Morgan Advanced Materials Plc; Polymer Technologies Inc.; Duracote Corporation; Rogers Corporation; DuPont; and BASF SE are among the leading players in the aerospace insulation market. These companies are adopting strategies such as mergers and acquisitions and product launches to expand their geographic presence and clientele.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Aerospace Insulation Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers:
4.3.2 Manufacturers:
4.3.3 Distributors/Suppliers:
4.3.4 End Users:
4.4 Expert Opinion
5. Aerospace Insulation Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Demand for Lightweight Insulation Materials
5.1.2 Strengthening of Aircraft Manufacturing Sector and Increase in Fleet Replacement
5.2 Market Restraints
5.2.1 Low Recyclability of Insulation Materials
5.3 Market Opportunities
5.3.1 Expansion of Aircraft Industry in Emerging Economies
5.4 Market Future Trends
5.4.1 Globalization and Increased International Trade
5.5 Impact Analysis
6. Aerospace Insulation – Global Market Analysis
6.1 Aerospace Insulation Market Overview
6.2 Aerospace Insulation Market -Revenue and Forecast to 2028 (US$ Million)
6.3 Competitive Positioning – Key Market Players
7. Global Aerospace Insulation Market Analysis – By Product
7.1 Overview
7.2 Aerospace Insulation Market, By Product (2021 and 2028)
7.3 Thermal Insulation
7.3.1 Overview
7.3.2 Thermal Insulation: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Acoustic Insulation
7.4.1 Overview
7.4.2 Acoustic Insulation: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Electric Insulation
7.5.1 Overview
7.5.2 Electric Insulation: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Vibration Insulation
7.6.1 Overview
7.6.2 Vibration Insulation: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
8. Aerospace Insulation Market Analysis – Insulation Material
8.1 Overview
8.2 Aerospace Insulation Market, By Insulation Material (2021 and 2028)
8.3 Mineral Wool
8.3.1 Overview
8.3.2 Mineral Wool: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Ceramic-based Material
8.4.1 Overview
8.4.2 Ceramic-based Material: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Foamed Plastics
8.5.1 Overview
8.5.2 Foamed Plastics: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Fiberglass and Others
8.6.1 Overview
8.6.2 Fiberglass and Others: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
9. Aerospace Insulation Market Analysis – Aircraft
9.1 Overview
9.2 Aerospace Insulation Market, By Aircraft (2021 and 2028)
9.3 Commercial Aircraft
9.3.1 Overview
9.3.2 Commercial Aircraft: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Military Aircraft
9.4.1 Overview
9.4.2 Military Aircraft: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Helicopters
9.5.1 Overview
9.5.2 Helicopters: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
10. Aerospace Insulation Market Analysis – Application
10.1 Overview
10.2 Aerospace Insulation Market, By Application (2021 and 2028)
10.3 Engine
10.3.1 Overview
10.3.2 Engine: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Airframe
10.4.1 Overview
10.4.2 Airframe: Aerospace Insulation Market – Revenue and Forecast to 2028 (US$ Million)
11. Aerospace Insulation Market – Geographic Analysis
12. Impact of COVID-19 Pandemic on Global Aerospace Insulation Market
12.1 Impact of COVID-19 on Aerospace Insulation Market
12.2 North America: Impact Assessment of COVID-19 Pandemic
12.3 Europe Impact Assessment of COVID-19 Pandemic
12.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic
12.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
12.6 South & Central America: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 New Product Development
13.4 Merger and Acquisition
14. Company Profiles
14.1 Duracote Corporation
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Rogers Corporation
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 DuPont
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 BASF SE
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 3M
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 TransDigm Group Incorporated
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Triumph Group, Inc.
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Johns Manville
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Morgan Advanced Materials Plc
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Polymer Technologies Inc.
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/7kczuo
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