The global Aircraft insulation market size is projected to grow from USD 5.5 billion in 2021 to USD 8.2 billion by 2026, at a CAGR of 8.3% from 2021 to 2026.
The market is driven by various factors, such as increase in demand for lightweight materials, introduction of advanced acoustic and fire resistant materials resulting in safer operations of aircraft, declining cost of composite materials, and increasing demand for military helicopters.
Get Free Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=21399175
Driver: Increase in demand for lightweight insulation materials
Increase in demand for lightweight insulation materials is a key factor that is expected to drive the aircraft insulation market. There is an increase in the use of composite materials to manufacture aerostructures. These materials include concrete, fiber-reinforced polymer, metal composites, and ceramic composites. These materials are combined to make composite materials that have high strength, flexibility, and are lightweight as compared to aluminum or steel. Furthermore, these materials are corrosion-resistant, which keeps the covers of an aerostructure tight under any weather condition.
Investments made towards research & development of new materials in the aircraft insulation market have led to the development of advanced composite materials, such as Polymer Matrix Composites (PMCs), Ceramic Matrix Composites (CMCs), and Metal Matrix Composites (MMCs). These composites have heat absorption capacity, less weight, noise cancellation capability, vibration absorbance, etc.
Such advancements in the aircraft insulation technology are expected to lead to their demand during the forecast period.
Opportunity: Increase in demand for composite materials from General Aviation (GA) and business jets industry to reduce cabin noise
The demand for general aviation and business jet services is increasing globally due to the increase in disposable income of people, standard of living, and corporate and recreational aviation. This, in turn, has led to a rise in demand for private jets, business jets, and small aircraft from the General Aviation (GA) industry. Presently, the General Aviation industry is focusing on increasing its market share in the North American and European regions. Following the rise in demand for aircraft and increase in passenger traffic, aircraft manufacturers are using composite materials to make aircraft cabin noise-free. Although aero grade aluminum alloy has been considered as a major material for current GA aircraft models, Carbon Fiber Reinforced Polymer (CFRP) is being widely adopted to manufacture new aircraft models.
Additionally, the emerging economies of the world contribute majorly to the growth of the business jets market. Countries such as India, China, Australia, Saudi Arabia, and Nigeria are the growing markets for business jets manufacturers. Enhancements in the interior of the business jets also attract new customers. This leads to a huge demand for insulation materials used in the aerospace sector, which are used in several cockpit and other luxury equipment of business jets.
By Type
Thermal Insulation
Acoustic & Vibration Insulation
Electric Insulation
By Material
Foamed Plastics
Fiberglass
Mineral Wool
Ceramic-based Materials
Others
By Application
Airframe
Propulsion System
By Platform
Fixed Wing
Rotary Wing
Unmanned Aerial Vehicles
By Region
North America
Asia Pacific
Europe
Rest of the World
Recent Developments
In September 2019, BASF SE developed particle foam based on polyethersulfone (PESU). The foam offers various features such as flame retardancy, high-temperature resistance, and lightweight.
In March 2019, Transdigm Group, Inc. acquired Esterline Technologies Corporation (US), a manufacturer of aircraft parts & components, machine tool systems, aircraft insulation systems, and automated drilling products. The acquisition enabled Transdigm Group, Inc. to strengthen its position in the global aircraft insulation market.
Full Report @ https://www.marketsandmarkets.com/Market-Reports/aircraft-insulation-market-21399175.html
No comments:
Post a Comment