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Aircraft Insulation Market 2033: Size, Share, Industry Trends, and Forecast
Aircraft Insulation Global Market Report 2024
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According to The Business Research Company's, The aircraft insulation market size has grown strongly in recent years. It will grow from $8.08 billion in 2023 to $8.83 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to weight reduction, acoustic comfort, thermal efficiency, regulatory compliance, aircraft modernization.
The aircraft insulation market size is expected to see strong growth in the next few years. It will grow to $12.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to green aviation initiatives, electric aircraft, increased connectivity, cabin air quality, market expansion. Major trends in the forecast period include advanced lightweight materials, fire-resistant insulation, acoustic insulation innovations, thermal insulation improvements, smart insulation systems.
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Market Drivers and Trends:
An increase in demand for lightweight insulation materials is expected to propel the growth of the aircraft insulation market going forward. Lightweight insulation materials refer to the low thermal conductivity of the material, and it means that lesser thickness is needed than that of most other insulants for achieving a particular level of thermal performance. The lightweight insulation materials are a natural fit for aircraft insulation due to their light weight compared with other industrial materials. For instance, in July 2021, the University of Bath, a UK-based public university, developed a graphene oxide aerogel weighing 2.1 kg/m3 making it the lightest sound insulation ever manufactured. Therefore, the increase in demand for lightweight insulation materials is driving the growth of the aircraft insulation market.
Technological advancements are the key trends gaining popularity in the aircraft insulation market. Major players and research institutes are focused on developing new technological solutions to reinforce their position. For instance, in October 2021, Researchers at Riga Technical University's Institute of Aeronautics, a Latvia-based technical university institute developed a multilayer metal-ceramic nanocoating, called McBLADE using nanotechnology for the aviation industry, enabling modification of aircraft frames, interior and engine components for improved performance, fuel efficiency, and lower operational costs. Nano coatings would also provide specialized functionality to the product, including electrical conductivity, electrical or thermal insulation, hydrophobicity, and light reflection.
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Major Key Players of the Market:
BASF SE, AVS Industries Limited Liability Company, Minnesota Mining and Manufacturing Company, Duracote Corporation, Boyd Corporation, DuPont de Nemours Inc., Rogers Corporation, Elmelin Ltd., Evonik Industries AG, Johns Manville, Hutchinson SA,, Polymer Technologies Inc., Lamart Corporation, Safran S.A, Triumph Group Inc., Transdigm Group Inc., Zotefoams plc, Esterline Technologies Corporation, Zodiac Aerospace, Armacell International S.A., Unifrax I LLC, Cabot Corporation, Knauf Insulation, Owens Corning, Saint-Gobain S.A., Aeroflex Industries Limited, Autex Industries Ltd., Cellofoam North America Inc., Insul-Therm International Inc., Pacor Inc., Thermal Control Products
Aircraft Insulation Market 2024 Key Insights:
• The aircraft insulation market size is expected to see strong growth in the next few years. It will grow to $12.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Lightweight Insulation Materials Revolutionize The Aircraft Insulation Market
• Technological Advancements Redefine The Future Of Aircraft Insulation Market
• North America was the largest region in the aircraft insulation market in 2023
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