Aircraft Insulation Market worth $8.2 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 18, 2021 /PRNewswire/ -- According to a research report "Aircraft Insulation Market by Platform (Fixed Wing, Rotary Wing), Type (Thermal, Acoustic & Vibration, Electric), Material (Foamed Plastics, Fiberglass, Mineral Wool, Ceramic-based Materials), Application (Airframe, Engine) and Region - Forecast to 2026", published by MarketsandMarkets™, the market size is projected to grow from USD 5.5 billion in 2021 to USD 8.2 billion by 2026, at a CAGR of 8.3% from 2021 to 2026. The market is driven by various factors, such as increase in demand for lightweight materials, introduction of advanced acoustic and fire resistant materials resulting in safer operations of aircraft, declining cost of composite materials, and increasing demand for military helicopters.
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The aircraft insulation market includes major players DuPont (US), Triumph Group, Inc. (US), Transdigm Group, Inc. (US), Zotefoams (UK), BASF SE (Germany), Rogers Corporation (US), Safran Group (France), and Evonik Industries (Germany). These players have spread their business across various countries includes North America, Europe, Middle East, Asia Pacific, and Rest of the World. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has slightly affected aircraft insulation production and services globally in 2020.
Increase in demand for lightweight insulation materials will drive the demand for aircraft insulation
Increase in demand for lightweight insulation materials is a key factor that is expected to drive the aircraft insulation market. There is an increase in the use of composite materials to manufacture aerostructures. These materials include concrete, fiber-reinforced polymer, metal composites, and ceramic composites. These materials are combined to make composite materials that have high strength, flexibility, and are lightweight as compared to aluminum or steel. Furthermore, these materials are corrosion-resistant, which keeps the covers of an aerostructure tight under any weather condition.
Investments made towards research & development of new materials in the aircraft insulation market have led to the development of advanced composite materials, such as Polymer Matrix Composites (PMCs), Ceramic Matrix Composites (CMCs), and Metal Matrix Composites (MMCs). These composites have heat absorption capacity, less weight, noise cancellation capability, vibration absorbance, etc.
Such advancements in the aircraft insulation technology are expected to lead to their demand during the forecast period.
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The thermal insulation is projected to witness a higher CAGR during the forecast period
Based on type, the thermal insulation are projected to grow at the highest CAGR rate for the aircraft insulation market during the forecast period. Thermal insulation refers to the use of materials with low thermal conductivity to reduce the transfer of heat between different aircraft components and parts. The thermal insulation system helps maintain a comfortable internal environment while the aircraft is in flight, and dramatically reduces noise levels and vibrations.
The foamed plastics is projected to witness the highest CAGR during the forecast period
Based on material, the foamed plastics is projected to grow at the highest CAGR for the aircraft insulation market during the forecast period. Plastic foams are widely used in a cabin in seat cushions and mattresses to absorb heat, noise insulation, vibration, etc. The aerospace industry uses various materials such as polyimide and polyurethane foams, combining acoustic and thermal insulation to be used in aircraft cabin in linings, wall panels, and rest of the areas or insulation blankets for door areas of the aircraft.
Airframe segment projected to witness highest CAGR during the forecast period
The airframe segment is projected to grow at the highest CAGR rate for the aircraft insulation market during the forecast period. The airframe of an aircraft includes aircraft wings, flight control surfaces, fuselage, etc. It is the backbone of the aircraft, and is responsible for a safe, efficient, and reliable flight. The use of lightweight and high-strength composite materials for the development of the structure of an aircraft is anticipated to drive the growth of the aircraft insulation market.
Unmanned Aerial Vehicles segment projected to witness highest CAGR during the forecast period
The unmanned aerial vehicles segment is projected to grow at the highest CAGR rate for the aircraft insulation market during the forecast period. UAVs include all military and non-military drones used for different applications such as surveillance, security, and battlefields. The market for UAVs is growing at a healthy rate and is not much affected by the COVID-19 outbreak. Furthermore, insulation is required to protect critical components of drones such as electrical systems and cameras. Hence, such factors are driving the growth of the segment.
The North American market is projected to contribute the largest share from 2021 to 2026
North America is projected to be the largest regional share of the global aircraft insulation market during the forecast period. North America has the largest commercial aircraft fleets and military aircraft in the world. It also has the largest number of OEMs and MRO companies of the aircraft insulation market. The largest aircraft deliveries are also seen in the North American Region. It also accounts for the largest passenger traffic. The North American region also spends the most in technological and R&D programs. It also has the largest defense spending in the world. North America is home to some of the giants in the aircraft manufacturing industry, like Raytheon Technologies, Boeing, Lockheed Martin etc.
DuPont (US), Triumph Group, Inc. (US), Transdigm Group, Inc. (US), Zotefoams (UK), BASF SE (Germany), Rogers Corporation (US), Safran Group (France), and Evonik Industries (Germany). are some of the leading players operating in the aircraft insulation market report.
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