Aerospace Insulation Market Size
Aerospace Insulation Market size valued at over USD 3.12 billion in 2019 and is estimated to exhibit around 6% CAGR from 2020 to 2026.
Rising air traffic coupled with increasing demand for commercial aircrafts will positively influence the industry growth.
Aerospace insulation includes materials installed in the aircraft to enhance safety and comfort level. Insulation has a significant role in safeguarding passengers and crew against engine noise and cold temperature at elevated altitudes. The layer is resistant to fire penetration and enhances flame retardancy in case of accidents. Increased per capita income and expenditure are constantly increasing air passenger traffic. According to IATA, the air passengers are likely to be 7.8 billion by 2036 with a growth rate of 3.6% per annum. Expansion in air travelers is resulting in increase in flight iterations and will drive the aerospace insulation market size.
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OEMs are concentrating on the utilization of lightweight materials in order to increase fuel efficiency and aid weight reduction. The air passenger growth of key nations is due to increases in low-cost carriers. Increase in airline efficiency and increased competition between airliners has decreased cost per trip. The air fares are being lowered by the operators of fights to improve their customers’ base. Reduction in the cost of traveling is leading to an increase in traffic.
Low recyclability of insulation materials combined with the shifting regulatory landscape will restrain the aerospace insulation market growth. Additionally, the current COVID-19 pandemic will have a negative impact on the market revenue. As per IATA, global aviation industry has experienced an overall revenue loss of over USD 400 billion due to the suspension of air travels in key countries. Additionally, temporary closure of key aircraft manufacturing plants will also impede the market demand.
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Aerospace Insulation Market Report Attributes
Report Attribute Details
Base Year 2019
Aerospace Insulation Market Size in 2019 3,115.7 Million (USD)
Forecast Period 2020 to 2026
Forecast Period 2020 to 2026 CAGR 2.5%
2026 Value Projection 3,796.1 Million (USD)
Historical Data for 2016 to 2019
No. of Pages 425
Tables, Charts & Figures 835
Segments covered Product, Material, Aircraft, Application, Platform, Region
Growth Drivers
Growing air passenger traffic
Strength of aircraft manufacturing industry
Pitfalls & Challenges
Changings in regulatory environment and low recyclability of insulation materials
What are the growth opportunities in this market?
Aerospace Insulation Market Analysis
Thermal aerospace insulation market will observe approximately 5.5% growth rate through 2026 driven by growing use of heat insulation products and need for energy saving, passenger comfort, and better aircraft performance. Growing number of government programs to consolidate insulation manufacturing business and enhance energy savings through environmentally friendly products will drive thermal insulation industry revenue. Demand for insulation products is attributed to its benefits such as, lower vibration & noise levels while airborne. Improved user protection due to low thermal conductivity of products will continue to drive the market growth.
In 2019, ceramic material segment was more than 50% market share in the aerospace insulation market. Modern and advanced ceramics have been highly popular in aerospace and aviation design, manufacturing, and development. Ceramic is used extensively for a number of aerospace applications such as batteries, semiconductors, and magnets used in aircraft tiles.
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Commercial airlines contributed over USD 2 billion aerospace insulation market revenue in 2019 with rising domestic and international air traffic worldwide. Air passenger traffic was 105 million in 2014 in Germany and is projected to exceed 175 million by 2030. The advent of low-cost air carriers and shifting consumer trend towards air transport will be the key drivers boosting the market.
Airframe application segment will dominate the market for aerospace insulation globally in the forecast period. This is due to frequent innovations in application of light-weight materials. This in turn has caused significant improvisations in structure composition of components. Increased penetration of composites in commercial aircraft will propel the formation of different aero structures, creating huge potential to the industry size.
Fixed wing platform segment will achieve substantial market share up to 2026 by increasing usage of these materials as acoustic and thermal insulation. Interiors of the cabin of fixed wing aircraft, and ancillary ground support gear will assist in its leadership standing. Strong deployment for covers that protect aircraft against weather will advance the product penetration.
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North America aerospace insulation market size is expected to witness growth of more than 5% during the period 2020-2026 driven by availability of key players of the aerospace industry such as, Boeing, Lockheed Martin, United Technologies, and Northrop Grumman. These companies have substantial contribution in the manufacturing of aircraft. Growth in the delivery of aircraft due to air passenger and freight traffic in the region is expected to drive the market.
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Aerospace Insulation Market Share
The major aerospace insulation market participants include
- BASF SE
- AVS Industries
- 3M
- Duracote Corporation
- Boyd Corporation
- DuPont
- Esterline Technologies Corporation
- Elmelin Ltd
- Evonik Industries
- Johns Manville
- Insul
- Tecno Group
- Hutchinson
- Polymer Technologies Inc
- Orcon Aerospace
- Rogers Corporation
- Promat
- ThermoDyne
- UPF Corporation
- Triumph Group
- Zotefoams
- Zodiac Aerospace
The product manufacturers are focusing on strategic partnerships and new product launches to gain competitive edge. For instance, In June 2017, Esterline Corporation acquired a four-year agreement worth USD 31 Million with KLX Inc. for providing clamping solutions with the support of Boeing Services. The products to be supplied include various wire management and clamping and solutions for Boeing’s Military war-fighters, such as F-15, F/A -18, C-17, and F-22.
