Aerospace Insulation Market for Airframe segment is expected to generate around USD 3 billion over the projected timeframe. Increasing use of composites for reducing the aircraft weight is expanding the segment revenue share. The requirement for improved thermal, acoustic, and fire-resistant insulation panels for increasing passenger comfort and safety will accelerate the aerospace insulation market growth during the projected timeframe.
The fixed wing segment in the aerospace insulation market share accounted for around USD 2 billion in 2017 due to the rising usage of various materials for ancillary ground equipment, acoustic & thermal insulation, and cabin interiors in such aircrafts. The increasing usage of weather protection covers will spur the segment dominance till 2024.
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North America is anticipated to capture the maximum volume share of approximately 40% in the aerospace insulation industry over the projected timeframe. The presence of several industry participants coupled with the rising aircraft deliveries will play a key role in expanding the regional volume share.
The electric insulation segment will exhibit a growth rate of approximately 11% between 2018 and 2024. This growth can be attributed to the increased usage of electrical components. The requirement for efficient thermal management to prevent short circuiting or overheating will positively influence the segment growth over the projected timeframe.
The ceramic material will capture the highest revenue share of approximately 52% over the study timeframe owing to the enhanced properties exhibited by ceramic including high tensile strength, chemical inertness, and increased melting temperatures. The rising adoption of ceramic in military and commercial sector is further escalating the aerospace insulation business share over the next six years.
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The commercial aircrafts segment is predicted to account for the highest volume share till 2024. This dominance is credited to the increasing air passenger traffic owing to low cost fares. Moreover, rising aircraft production is positively affecting the segment dominance over the study timeframe.
Shifting trend towards the development of lightweight airplanes accompanied with increasing demand from the military and commercial sector will positively influence the industry size over the study timeframe. Industry players are actively investing in R&D to introduce new products with modular functionalities and high recyclable content, providing a positive outlook for the aerospace insulation market share.
Several government bodies globally including EASA and FAA are standardizing norms for increasing passenger safety. For instance, the EASA has authorized the retrofitting of improved acoustic, thermal, and fire-resistant insulation panels for flights in-service expanding the revenue share over the forecast timeframe. However, high labor cost and technology constraints for recycling may negatively impact the aerospace insulation market size during the forecast period.
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The major aerospace insulation industry players include Hutchinson, 3M, BASF SE, Zodiac Aerospace, and DuPont. Other notable players include Johns Manville, Polymer Technologies Inc., Esterline Technologies Corporation, and Evonik Industries.