What is Aerospace Insulation Market?
The aircraft insulation can be defined as the process of coating of different parts of aircraft in order to make it soundproof, heat-resistant, and vibration resistant for efficient performance of overall aircraft parts. In the commercial aviation sector, the vendors have already been facing a lot of challenges such as disruption in production due to slowdown in aircraft demand, workers went their homes due to COVID-19, steep drop in passenger traffic, and delay in aircraft deliveries due to disrupted supply chain across the world. The UK aerospace insulation market is expected to grow at a moderate pace during the forecast period, according to the AMA study. Moreover, the increasing demand for fuel-efficient aircraft, the rising awareness for safer operations in aircraft, and the rising demand for military aircraft are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a moderate pace after the effect of the COVID-19 pandemic is overcome by the industry.
Highlights from Aerospace Insulation Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | 3M (United States), BASF SE (Germany), Dupont (United States), Duracote Corporation (United States), Esterline Technologies Corporation (United States), Evonik Industries AG (Germany), Polymer Technologies Inc. (United States), Rogers Corporation (United States), Safran (France), Triumph Group (United States) and Zotefoams Plc (United Kingdom) |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the market. The recent industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Aerospace Insulation market throughout the forecasted period.
3M (United States), BASF SE (Germany), Dupont (United States), Duracote Corporation (United States), Esterline Technologies Corporation (United States), Evonik Industries AG (Germany), Polymer Technologies Inc. (United States), Rogers Corporation (United States), Safran (France), Triumph Group (United States) and Zotefoams Plc (United Kingdom) are some of the key players profiled in the study. Aerospace Insulation Market Segmentation:
Scope | Sub-Segments |
---|
Application / End User | Engines and Airframe {Cabin Interiors, Aerostructure, Landing Gear, Aircraft Systems} |
Type | Thermal Insulation, Electric Insulation, Acoustic Insulation and Vibration Insulation |
End Users | OEMs,Aftermarket |
Material | Foamed Plastic,Fiberglass,Mineral Wool,Ceramic Materials,Others |
Aircraft | Commercial Aircraft {Narrow-body, Wide-body, Very Large Aircraft},Military Aircraft,General Aviation,Helicopters,UAVs |
On the basis of geography, the market of Aerospace Insulation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand for Lightweight Insulation Materials
Market Growth Drivers:
Increasing Demand for Fuel Efficient Aircraft and The Rising Production of Military Aircraft
Challenges:
Disrupted Aircraft Production in the FY 2020 Due to COVID-19 Pandemic and Slow Recovery in Air Passenger Traffic and Expected Delays in Aircraft Deliveries
Restraints:
Fluctuations in Raw Materials Prices
Opportunities:
Innovation in Technologies for Fuel Efficient Aircraft & Declining Composite Material Costs are Expected to Generate Opportunities for Market Vendors During the Forecast Period and Rising Demand for Composite Materials for Aircraft Applications is Expected to Drive the Market During the Near Future
Market Leaders & Development Strategies
In February 2018, Safran announced that it has completed the acquisition of Zodiac Aerospace worth USD 10 Billion in order to expand its aerospace activites and business segment of aircraft equipment.
In April 2019, BASF announced that it is expanding its strategic partnership with Aspen Aerogels, Inc. with the signing of an addendum to their exclusive supply agreement. The addendum provides for the production and supply of a new non-combustible, high-performance thermal insulation product 'SLENTEX'.
Stringent Government Regulations Regarding Travel Bans on Flights Across the World Due to COVID-19 has Impacted the UK Aerospace Sector Severely and also it has led to Negative Impact on the Demand for Aerospace Insulation in the UK and Stringent Regulations by FAA for the Usage of Insulation Materials within a Range
Analyst Comment
After a healthy global aircraft demand in 2018, the demand for commercial aircraft declined in the 2019 which was expected to regain its growth in the FY 2020 before the COVID-19 pandemic scenario. After the COVID-19 pandemic across the world, the demand for commercial aircraft has been significantly affected as the air passenger traffic is reduced heavily around the world. At the same time, the demand for military aircraft has remained unaffected by the pandemic. Therefore, the commercial aerospace sector is expected to recover slowly, as the demand for air travel is going to recover back to the 2019 level by 2024 which is expected to hamper the growth of aerospace insulation market for the commercial aviation sector. Moreover, the demand for aircraft aerospace insulation for military aircraft applications is expected to remain constant during the forecast period which is expected to drive the market demand during the near future.