Market Research Report
Aerospace Insulation - Global Market Outlook (2020-2028)
|Aerospace Insulation - Global Market Outlook (2020-2028)|
Published: May 5, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Aerospace Insulation Market is accounted for $9.53 billion in 2020 and is expected to reach $14.73 billion by 2028 growing at a CAGR of 5.6% during the forecast period. Increasing air passenger traffic and strengthening of aircraft manufacturing sector are the major factors propelling the market growth. However, changing regulatory scenario and low recyclability of insulation materials are hampering the market growth.
Aerospace insulation refers to the materials that are installed in the aircraft to improve safety and comfort levels. Functions of the aircraft in severe conditions should adhere to certain fundamental operations as well as safety measures concerns to both weight and temperature terms, and overall performance as well. Insulation performs a crucial part in guarding crew and passengers against generator noise and frigid temperature at higher elevations. The layer protects against fire penetration and augments flame retardant in accidental circumstances. Aerospace insulation accommodates to create a light weighted and performance-based aircraft, which not only augments the thermal and acoustical performance but also limits the weight build-up on aircraft of consumed water.
Based on product, the thermal insulation segment is going to have a lucrative growth during the forecast period owing to the increasing utilization of heat insulation solutions and demand for energy conservation, passenger comfort, and improved aircraft performance. Increasing number of government initiatives to strengthen insulation manufacturing industry and improve energy savings through eco-friendly products will boost thermal insulation revenue. Additionally, enhanced user safety owing to low thermal conductivity of materials will further fuel the market growth.
By geography, North America is going to have a lucrative growth during the forecast period due to the presence of major aerospace industry participants including, Boeing, Lockheed Martin, United Technologies, and Northrop Grumman. These players contribute significant share in aerospace manufacturing. Rising aircraft deliveries on account of air passenger and freight traffic across the region will drive the market growth.
Some of the key players profiled in the Aerospace Insulation Market include BASF SE, 3M, AVS Industries, Boyd Corporation, DuPont, Duracote Corporation, Elmelin Ltd, Esterline Technologies Corporation, Evonik Industries, Hutchinson, Insul.Tecno Group, Johns Manville, Orcon Aerospace, Polymer Technologies Inc, Promat, Rogers Corporation, ThermoDyne, Triumph Group, UPF Corporation, Zodiac Aerospace, and Zotefoams.
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