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Rising Air Passenger Traffic Fuels Growth in the Aircraft Insulation Market: Powering Innovation and Expansion in the Aircraft Insulation Market by 2025
Aircraft Insulation Market
What Is the Expected CAGR for the Aircraft Insulation Market Through 2025?
The size of the aircraft insulation market has witnessed a significant increase in past few years. The market is projected to escalate from $8.65 billion in 2024 to $9.43 billion in 2025, witnessing a compound annual growth rate (CAGR) of 9.0%. The expansion during the historical period is due to factors such as weight reduction, enhanced acoustic comfort, improved thermal efficiency, regulatory adherence, and modernization of aircraft.
What's the Projected Size of the Global Aircraft Insulation Market by 2029?
The size of the aircraft insulation market is set to experience robust growth in the upcoming years. It's projected to reach $13.03 billion by 2029, with a compound annual growth rate (CAGR) of 8.4%. This growth during the prediction period can be credited to factors such as green aviation projects, electric aircraft, enhanced connectivity, air quality inside the cabin, and market broadening. Noteworthy trends during this period include the development of advanced lightweight materials, fire-proof insulation, breakthroughs in acoustic insulation, thermal insulation enhancements, and intelligent insulation systems.
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Top Growth Drivers in the Aircraft Insulation Industry: What's Accelerating the Market?
The anticipated surge in air passenger traffic is projected to drive the expansion of the aircraft insulation market. The increase in global air passenger traffic can be attributed to improved global connectivity, growth in disposable income, and a thriving tourism industry, in addition to the resurgence of international travel in the aftermath of the pandemic. Aircraft insulation helps stimulate air passenger traffic by enhancing the overall flight experience with superior cabin comfort, sound management, and climate control. For example, ACI Worldwide, an American payment system company, forecasts that the global passenger count will touch approximately 8.7 billion in 2023, marking a 31% year-on-year (YoY) growth from 2022. As such, the rise in air passenger traffic is a key driver for the aircraft insulation market.
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What Trends Will Shape the Aircraft Insulation Market Through 2029 and Beyond?
The adoption and development of new technologies is becoming increasingly prominent in the aircraft insulation market. Key competitors and academics are directing efforts towards unique technological innovations to enhance their market presence. For example, in January 2023, the University of Bath, based in the UK, introduced ultra-light aerogels, suited for use as sound insulation and heat-resistant materials in the aerospace and automotive sectors. Notably, these aerogels boast of water-repellent properties, ensuring they defend the components underneath from water-damage and rust. The distinguishing feature of aerogel insulation is its notably low density, usually consisting of 95-99% air by volume, allowing for substantial weight reduction in comparison to conventional insulation materials.
What Are the Main Segments in the Aircraft Insulation Market?
The aircraft insulation market covered in this report is segmented -
1) By Type: Thermal Insulation, Acoustic And Vibration Insulation, Electric Insulation
2) By Platform: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles
3) By Material: Foamed Plastics, Fiberglass, Mineral Wool, Ceramic-Based Materials, Other Materials
4) By Application: Airframe, Propulsion System
Subsegments:
1) By Thermal Insulation: Reflective Thermal Insulation, Fiberglass Thermal Insulation, Foam Thermal Insulation, Aerogel Thermal Insulation
2) By Acoustic and Vibration Insulation: Soundproofing Materials, Acoustic Foam Panels, Vibration Damping Materials, Composite Acoustic Insulation
3) By Electric Insulation: Insulating Materials for Wiring, Electrical Insulation Coatings, Heat Shrink Tubing, Insulating Gaskets and Seals
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Which Top Companies are Driving Growth in the Aircraft Insulation Market?
Major companies operating in the aircraft insulation market include 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
Which Regions Will Dominate the Aircraft Insulation Market Through 2029?
North America was the largest region in the aircraft insulation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft insulation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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