Title: Aerospace Insulation industry analysis research and trends report for 2017- 2024
1Aerospace Insulation Market to cross 5bn by
2024 Global Market Insights, Inc.
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2- Global Market Scenario of Aerospace Industry
- Aerospace Insulation Market to surpass USD 5
billion by 2024 according to a new research
report by Global Market Insights, Inc. - Global aerospace insulation is expected to cross
275 kilo tons till 2024. Rising need of
developing lightweight aircrafts along with high
demand from commercial and military industries
will drive the industry growth over the coming
years. Significant increase in air passenger
traffic, especially in the developing countries
will further boost the product demand. - However, uncertainty in raw material availability
coupled with recycling challenges may pose a
threat to the industry manufactursers.
Manufacturers are continuously focusing on
implementing fire resistant materials and
advanced acoustics for enhancement of operational
safety. Further, producers are trying to improve
their distribution channel to strengthen their
position in the industry. - Looking forward, manufacturers have increased
their production capacity coupled with investment
in RD to cater the rising demand for aerospace
insulation globally.
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3Continue-
- Usage of aerogels including carbon, polymer, or
metal oxide is witnessing an emerging trend among
the industry players. Benefits such as
lightweight, low thermal conductivity, and
enhanced safety will contribute significantly
towards high deployment, ensuring strong growth
to the aerospace insulation market over the
forecast timeframe. - Thermal insulation is anticipated to capture
almost 70 market share in the next eight years.
High revenue generation is attributed to shifting
consumer preference towards the product over its
counterparts owing to reduced noise level and
vibrations during flight hours. Low thermal
conductivity that results in enhanced safety is
another factor propelling the segment growth. - Electric insulation will exhibit over 8 CAGR
over the coming years owing to its advantages
such as efficient management of composites that
are temperature sensitive and avoidance of
overheating. - Ceramic materials will dominate the aerospace
insulation market share surpassing USD 2.5
billion over the forecast timeframe. High
acceptance of material from military and
commercial aircrafts will primarily drive the
industry growth.
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5- Fiber glass is poised to grow at over 6.5 till
2024. Rising need to maintain aircrafts core
strength comprising of internal fuselage
structure will drive aerospace insulation market. - Aerospace insulation market from commercial
aircrafts will exhibit maximum share of over USD
3 billion over the next eight years. Air
passenger traffic in Germany is expected to
increase from 105 million in 2014 to over 175
million by 2030. Consistently rising local and
international air traffic globally will instigate
the demand from these aircrafts. - Helicopters is set to grow at over 9 owing to
high demand of insulation for noise reduction.
Military aircrafts will grow substantially owing
to increasing defense budget in various
countries. For instance, allocated defense budget
in U.S. will cross USD 820 billion by 2018.
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6- North America will account for over USD 2 billion
till 2024. Increasing air passenger traffic in
developed countries has led to a substantial rise
in aircraft deliveries, propelling the aerospace
insulation market in the region. The region
accounted for over 9000 aircraft deliveries in
2016.
- BASF SE, Triumph Group, Rogers Corporation, and
DuPont are among the prominent players in
aerospace insulation market. Other considerable
manufacturers include Zodiac Aerospace, Esterline
Technologies, Zotefoams, and Evonik Industries.
Mergers acquisitions are certain strategies
adopted by the producers to gain a competitive
edge. - For instance, in October 2013, Triumph Group
acquired Chase Corporation due to its vast
insulation product line. The acquisition helped
the company to expand its product portfolio and
customer base.
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