Aerospace Insulation Market 2020: Global Segments, Recent Trends, Competitive Landscape and Top Key Players (Zodiac Aerospace, Triumph Group, Hutchinson, Evonik, BASF, 3M, DuPont) 2024

Aerospace insulation market is expected to witness exponential growth owing to the increasing demand for lightweight aircraft along with surging air traffic across the globe. Deployment of advanced materials such as spider silk and aerogel with improved hybrid properties will positively influence market growth.

It is estimated that global aerospace insulation market will reach over USD 5 billion by 2024. Apparently, the swift escalation in air passenger traffic has bound the aerospace regulating authorities across several economies to propose stringent laws regarding the use of insulating materials by commercial aircraft manufacturers to improve the operational safety.

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The increasing number of electrical components in aircraft have proliferated the electric insulation segment. In this regard, electric and thermal insulation are of high significance in aircraft as they provide enhanced acoustic, thermal, fire and vibration barriers. Therefore, the requirement of effective temperature management for preventing short circuiting and overheating will reinforce the segment dominance over the coming years.

The Major Key Players in the Market are as follows:
1. 3M
2. AVS Industries
3. BASF SE
4. Boyd Corporation
5. Duracote Corporation
6. E. I. du Pont de Nemours and Company (DuPont)
7. Elmelin Ltd.
8. Esterline Technologies Corporation
9. Evonik Industries
10. Hutchinson
11. Insul.Tecno Group Srl
12. Johns Manville
13. Orcon Aerospace
14. Polymer Technologies Inc.
15. Promat
16. Rogers Corporation
17. ThermoDyne
18. Triumph Group
19. UPF Corporation
20. Zodiac Aerospace
21. Zotefoams

According to reports, electric aerospace insulation industry share is anticipated to register a growth rate of more than 11% CAGR between 2018-2024. In addition, the emergence of low-cost carriers coupled with rising standard of living in emerging nations is encouraging the growth in air travel which has led to increased production and deliveries of aircraft.

Reports estimate that the ceramic material segment in aerospace insulation market will hold a substantial revenue share of more than 52% by 2024. The ceramic materials are anticipated to emerge as a popularly used material in the aircraft, due to their steep melting temperature, high tensile strength, and impressive chemical inertness.

The increasing adoption of ceramics in aviation, defense and commercial segments along with increasing R&D activities undertaken by manufacturers will further underline the growth prospects for global aerospace insulation market.

The fixed wing segment had generated over USD 2 billion in 2017 owing to the introduction of advanced composite materials and growing usage of several materials for acoustic & thermal insulation, ancillary ground equipment, and cabin interiors in such aircraft.

Advanced technologies are now being incorporated into the finely modified wing structure design and production, with more innovative sensors that efficiently monitor key performance parameters during the fight. OEMs are also directing their efforts towards new manufacturing methods to incorporate newer technologies without compromising the high tuned structure of wing.

North America region is set to emerge as one of the most lucrative regions owing to the rising demand for commercial aircraft and the presence of several aerospace insulation market players in the region. Local flights are quite common in the U.S. and Canada, where access to airports is mu better as compared to developing nations.

Numerous industry players are investing massively in defense aviation sector along with favorable government policies in the U.S., where defense expenditure is tremendous every year. This will considerably expand the regional aerospace insulation market share in the near future. Reports estimate that North America will hold nearly 40% of the global share over the forecast timeline.

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These global trends along with rapid increase in the number of commercial aircraft will definitely provide a slew of commercialization opportunities to aerospace insulation market players. Also, rapid development of space exploration activities will provide significant growth prospects over the next few years.

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