Aerospace Insulation Market in Airframe Segment is Expected to Generate Around USD 3 Billion Over 2024| Key Players are Hutchinson, 3M, BASF SE, Zodiac Aerospace, Johns Manville, Polymer Technologies, Esterline Technologies

The fixed wing segment in the aerospace insulation market share accounted for around USD 2 billion in 2017 due to the rising usage of various materials for ancillary ground equipment, acoustic & thermal insulation, and cabin interiors in such aircrafts. Airframe segment is expected to generate around USD 3 billion over the projected timeframe. Increasing use of composites for reducing the aircraft weight is expanding the segment revenue share. The requirement for improved thermal, acoustic, and fire-resistant insulation panels for increasing passenger comfort and safety will accelerate the aerospace insulation market growth during the projected timeframe.

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.

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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.

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.

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According to estimates, ceramics are expected to account for more than 50% of the overall aerospace insulation market share by 2024. Elaborating further, this material has been witnessing remarkable research activities of late. With humongous resources being poured in the research and development of advanced ceramics, there’s no denying the impact ceramics would have on the aviation, space exploration, commercial, and defense sectors, which would further accentuate the growth prospects of global aerospace insulation industry.

Speaking of the regional growth potential of aerospace insulation market, Asia Pacific region is set to emerge as one of the most lucrative spaces owing to the rising demand for commercial aircrafts in countries like India, China, and Thailand. In addition, various governments of the region are strengthening R&D efforts by investing heavily in defense aviation sector.

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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 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.

Related Report: https://www.marketwatch.com/press-release/air-defense-system-market-in-asia-pacific-region-is-anticipated-to-exhibit-significant-growth-over-the-upcoming-year-2019-05-02

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