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Aerospace Insulation Market in North America Region Will Capture 40% of Industry Share by 2024

Author : Ronak Bora | Published Date : 2019-06-03 

North America is anticipated to capture the maximum volume share of approximately 40% in the aerospace insulation market 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.

An instance of the tragedy caused by failure of insulation can be drawn from the crash of the Swissair flight 111 into the Atlantic Ocean in 1998 when the flight caught fire. The mishap was traced to faulty wiring in the in-flight entertainment system and one of the major contributors to the failure was the type of insulation used on the plane’s wiring. Post the incident, it had been observed that global aerospace industry players had begun to work rather hard to improve insulation, adding stimulus to aerospace insulation market.

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Increasing air traffic globally coupled with tightening government regulations regarding the materials used will drive the aerospace insulation market over the forecast timeframe. Evolution of enhanced materials such as spider silk and aerogels with improved hybrid properties will further augment the business share.

As on today, powered by innovation and technological developments leading to more consistent and dependable insulating solutions, aerospace insulation market outlook has indeed taken on a drastically positive turn. demonstrated in the instance of the Swissair flight crash, reliable electrical insulation also holds immense consequence for the safety of airplanes. With the advancement of aircraft technology, more electrical systems have come to be included on aircrafts. Indeed, electrical aerospace insulation market has also come to gain commendable traction, with a CAGR estimation of 8.5% over 2017-2024.

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As the rate of air travel increases across the globe and most geographies expand their air military operations, aerospace insulation market trends are likely to undergo a transformation. For instance, North America covered 40% of the overall aerospace insulation market share in 2017. Driven by increased preference for air travel and the extensive presence of prominent contenders, this regional industry is forecast to garner lucrative proceeds over 2018-2024.

Shifting trend towards the development of lightweight airplanes accompanied with increasing demand from the military and commercial sector will positively influence the industry 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.

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The major aerospace insulation market 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. Mergers and acquisitions are among the prominent strategies adopted by industry participants to enhance their industry foothold.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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