Press release
Global Aerospace Insulation Market Key Player Analysis On Outlook Profiled Hutchinson, 3M, BASF SE, Zodiac Aerospace, Esterline Technologies Corporation, and Evonik Industries. Mergers
Increasing air traffic globally coupled with tightening government regulations regarding the materials used will drive the aerospace insulation market over the forecast timeframe. Evolution of enhanced materials such as spider silk and aerogels with improved hybrid properties will further augment the business share.
The major aerospace insulation industry players include Hutchinson, 3M, BASF SE, Zodiac Aerospace, and DuPont. Other notable players include Johns Manville, Polymer Technologies Inc., Esterline Technologies Corporation, and Evonik Industries. Mergers and acquisitions are among the prominent strategies adopted by industry participants to enhance their industry foothold. For instance, in 2017, Evonik Industries acquired the additive compounding business from 3M for expanding its solid additive business portfolio.
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Several government bodies globally including EASA and FAA are standardizing norms for increasing passenger safety. For instance, the EASA has authorized the retrofitting of improved acoustic, thermal, and fire-resistant insulation panels for flights in-service expanding the revenue share over the forecast timeframe. However, high labor cost and technology constraints for recycling may negatively impact the aerospace insulation market during the forecast period.
The electric insulation segment will exhibit a growth rate of approximately 11% between 2018 and 2024. This growth can be attributed to the increased usage of electrical components. The requirement for efficient thermal management to prevent short circuiting or overheating will positively influence the segment growth over the projected timeframe.
The ceramic material will capture the highest revenue share of approximately 52% over the study timeframe owing to the enhanced properties exhibited by ceramic including high tensile strength, chemical inertness, and increased melting temperatures. The rising adoption of ceramic in military and commercial sector is further escalating the aerospace insulation business share over the next six years.
Shifting trend towards the development of lightweight airplanes accompanied with increasing demand from the military and commercial sector will positively influence the industry size over the study timeframe. Industry players are actively investing in R&D to introduce new products with modular functionalities and high recyclable content, providing a positive outlook for the aerospace insulation market share.
Proliferating low-cost carrier services for air passengers is playing a significant role in the industry growth till 2024. Increasing aircraft production to meet backlogs will further strengthen the aerospace insulation business size over the study time frame. For instance, in 2017, according to the CAPA-Center for Aviation, aircraft manufacturers are working actively to meet the backlogs of around 50% of the total aircrafts in service, supporting the revenue share.
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North America is anticipated to capture the maximum volume share of approximately 40% in the aerospace insulation industry over the projected timeframe. The presence of several industry participants coupled with the rising aircraft deliveries will play a key role in expanding the regional volume share.
The electric insulation segment will exhibit a growth rate of approximately 11% between 2018 and 2024. This growth can be attributed to the increased usage of electrical components. The requirement for efficient thermal management to prevent short circuiting or overheating will positively influence the segment growth over the projected timeframe.
Complete report for 2017-2024 on Aerospace Insulation market is now available at https://www.marketstudyreport.com/reports/aerospace-insulation-market
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