Market Research Report
Aircraft Insulation Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||922656|
|Published||Content info||85 Pages
Delivery time: 2-3 business days
|Aircraft Insulation Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: August 1, 2020||Content info: 85 Pages||
The aircraft insulation market is expected to witness a CAGR of more than 4% during the forecast period.
The Commercial Aircraft Segment Registered the Highest Market Share in 2019
The market for the commercial aircraft segment is currently larger, which is mainly due to the high sales of the aircraft models. On an average, the usage of insulation in commercial aircraft is generally higher, as compared to the other aircraft types. With the growing emphasis on increasing the passenger experience, better thermal/vibration/acoustic insulating materials are being used on the newer generation aircraft compared to the older aircraft types. The mandates imposed by EASA and FAA, regarding the fire-resistant thermal-acoustic insulation, have propelled the growth of the insulation market for commercial aircraft. Though the newer aircraft models are the first to implement the updated mandates, older commercial aircraft have also seen some retrofitting activity in the last two years due to these regulations. With the increasing air transport demand, airlines are ordering and procuring new aircraft on a large scale. Simultaneously, with a huge order backlog with the aircraft OEMs, the production rates are increasing, which will increase the demand for the aircraft insulation materials. By virtue of all these factors, the market for the aircraft insulation in the commercial segment is expected to dominate the market in the years to come,
Asia-Pacific to be the Fastest-growing Market in the Coming Years
With increasing aviation activities, the Asia-Pacific region is projected to be the fastest-growing market for the aircraft insulators in the world. As passenger traffic in the region is continuously growing, airlines are adopting various growth strategies. Some of the airlines are procuring new aircraft and are expanding their routes to places where there is a growth impetus. For instance, IndiGo, the Indian carrier, has expanded its destinations to the Middle-East, by scheduling a total of 237 flights to the region as of July 2019. With this and many other expansion plans, the airline is considering adding new aircraft including the Airbus's long-distance A321neo LR and the upcoming model, A321 XLR. The insulation needed for the air conditioning/heating system to economically produce cabin temperatures that appeal to the passengers varies with airplane type and location where the aircraft operates. With most of the region lying in the hot, tropical zone, even the operators of general aviation aircraft in the region use different materials for thermal insulation to make the travel comfortable for the passengers. Hence, the market is expected to grow faster in the Asia Pacific compared to the other regions.
Dupont, BASF SE, Esterline Technologies Corporation, Triumph Group Inc., and Polymer Technologies Inc. are some of the major players in the market. Innovations, in terms of new insulation materials, will help the players gain new contracts. Moreover, due to the increasing emphasis on lightweight components in the aviation industry, the players are focusing on developing advanced insulation materials, mainly thermal/acoustic insulations. With the stringency of the regulations in terms of insulation safety increasing, it is becoming difficult for smaller players to penetrate into the market. The Federal Aviation Administration (FAA) developing new flammability test requirements for aircraft insulation that will result in increased fire safety on aircraft. On this note, the product offerings of the insulation suppliers must be upgraded to suit the regulatory requirements of the governing bodies. Frequent upgrades to the product offerings based on the trends and requirements will help the players to sustain in the market competition in the long run.