Value Market Research has recently published a report on the Global Aircraft Insulation Material Market that states that the market value was close to USD 7.8 BN in 2019. The report anticipates the market value to reach USD 11.8 BN by 2026 with a CAGR of 6% within the forecast period from 2020-2026. The rise in demand for high-performance insulation material for commercial and military aircraft is driving the market growth. The rise in the number of aircraft deliveries coupled with the decline in the cost of composite materials is further fuelling the growth of the market. The growth in demand for lightweight insulation materials is further boosting the demand for the aircraft insulation materials market globally. Also, the rise in per capita income and growing air travelers are factors contributing to the growth of the aircraft insulation materials market. However, the low shelf life and recyclability of composites are likely to act as a restraint towards the growth of the global aircraft insulation materials market.
Aircraft insulation material provides superior fire, thermal, electric and acoustical insulation that improves fuel efficiency and passenger comfort. These materials are used to fill spaces between the fuselage and interior walls of aircraft in order to reduce noise levels and offer resistance to sound vibration.
The report “Global Aircraft Insulation Material Market Report By Product (Thermal Insulation, Acoustic & Thermal Insulation, And Electric Insulation), By Application (Military Aviation And Civil Aviation) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026” covers a complete analysis of the market and market dynamics along with an in-depth outlook on the competitive landscape.
By product, the classifications of the global aircraft insulation materials market are thermal insulation, acoustic & thermal insulation and electric insulation as per the report. Thermal insulation has led the market by accounting for a major market share as thermal insulating materials offer sound and noise damping along with excellent heat-shielding effects. Also, the rise in the usage of the thermal insulation materials helps to provide comfort and safety to passengers onboard due to the low thermal conductivity thus boosting the growth of this segment.By application, military aviation and civil aviation are the segments of the global aircraft insulation materials market. Civil aviation has emerged as the leading segment owing to the growing middle-class population and the rising disposable income which in turn led to an increase in air travelers thus driving the growth of this segment. The growth of low-cost carrier aircraft and an increase in the expenditure by the government to build better aviation infrastructure is responsible for boosting the segment growth.
North America, Europe, Asia Pacific, Latin America and Middle East & Africa are the geographical segments of the global aircraft insulation materials market. Huge spending on military and defense aircraft and the presence of major industry players such as DuPont, Esterline Technologies Corporation and Triumph Group Inc. are factors that have driven North America to emerge as the leading segment of the regional market.
The Report Segments Global Aircraft Insulation Material Market -
Players Profiled In the Report:
BASF SE, Dupont, Esterline Technologies Corporation, Evonik Industries, Rogers Corporation, Triumph Group Inc., Zodiac Aerospace and Zotefoams
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