Global Aircraft Insulation Materials Market Expected to Reach US$ 33,570.3 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Aircraft Insulation Materials Market by Type, Application, Sales Channel, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at US$ 18,565.8 Million in 2019 and is expected to grow at a healthy growth rate of 7.8% by the year 2027. The overall air traffic growth is increasing at a rapid pace globally owing to the increased urbanization and globalization. According to the International Air Transport Association (IATA), there were 3.8 billion air travelers throughout the world and it is expected that in the year 2035 it will reach 7.2 billion passengers. Hence, this has resulted in a rise in the manufacturing of commercial aircraft.

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The global aircraft insulation materials market is fragmented based on types, applications, sales channels, and region. On the basis of types, the aircraft insulation materials market has been segmented into thermal, acoustic & vibration, and electric insulation. Thermal insulation plays a vital role in maintaining a comfortable environment while the aircraft is in the air owing to these thermal insulation materials being used significantly in the aircraft. Based on material types, the aircraft insulation materials market has been classified into foamed plastic, mineral wool, fiberglass, ceramic-based materials, and other materials. Based on the application, the market is fragmented into military aviation, civil aviation. By Sales Channel, the market is bifurcated into manufacturer, distributor, and service provider. Based on the region, the global aircraft insulation materials market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is further bifurcated into countries such as the U.S., and Canada. The Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, the Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into the U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, Turkey, Egypt, South Africa, UAE, and Rest of the Middle East & Africa (MEA).

In the year 2020, the aircraft insulation materials market is expected to witness a lower sale due to the adverse effect COVID 19 pandemic on business across the world. The COVID-19 pandemic has had a rapid and serious impact on the global manufacturing and financial sectors. However, no clarity on the deeper effects has been provided. Global disruptive supply chain, lack of raw material availability, temporary shutdown of production units is the reason for lower production output.

As per GMR industry analyst Vidya, “The global aircraft insulation materials market is anticipated to witness significant growth during the forecast period 2020-2027 driven by the demand for lightweight aircraft in the military and commercial sector is growing, which, in turn, is boosting the usage of lightweight insulators. Many manufacturers in the aircraft insulation segment are investing heavily in research activities to develop and launch cost-effective and lightweight insulators, which can have modular functionalities and high recyclable components. Aviation regulatory authorities across the globe, such as the European Aviation Safety Agency (EASA) and the Federal Aviation Administration (FAA), are imposing several standards, procedures, and norms to improve flight safety”.

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Key Takeaways from the Study:

• In terms of region, North America would lead the regional market. Huge spending on defense aircraft and the military is driving the regional market growth. Also, the presence of major industry players such as Triumph Group Inc., Esterline Technologies Corporation, and DuPont, is further propelling the market rise.
• The Asia Pacific is estimated to witness high growth during the forecasted time. A lot of numbers of aircraft have to be delivered by Boeing in upcoming years in the Asia Pacific region. Mainly the demand is been originated from China, India, and Japan. Other supporting drivers in the region are the opening of assembly plants of Boeing in this region. Moreover, there is growth in investments in new airport development in the Asia Pacific, due to which there are opportunities for aircraft insulation materials adoption.
• Aircraft insulation manufacturers are projected to hold the largest share over the assessment period. Boeing is one of the major aircraft manufacturers worldwide. Boeing is insulating its latest airplanes models with Basotect, BASF’s heat & sound insulating melamine resin foam. This is the first time that a BASF foam is applied in the mass production of acoustic insulation for airplane cabin walls. Aircraft insulation manufacturers highly depend on Aircraft insulation materials distributors to manufacture the custom aircraft parts as per the requirement. This, in turn, increases the demand for insulation materials distributors.

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Report Scope:

Target Audience:

• Supply-side: Aircraft Insulation Materials manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Aircraft Manufacturing Companies, Aircraft Maintenance Companies.
• Regulatory Side: The Federal Aviation Administration (FAA), SKYbrary Aviation Safety, International Aviation Authorities – FAA, The functions of an Aviation Safety Regulatory.
• Associations and Industry Bodies: Federal Aviation Administration, Civil Aviation Authority, European Union Aviation Safety Agency, Directorate General of Civil Aviation, Civil Aviation Safety Authority.

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