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Aerospace Insulation Market in Commercial Aircrafts Segment is Expected to Exhibit Maximum Volume Share of Over 180 Kilo Tons By 2024

Author : Ronak Bora | Published Date : 2019-05-16 

North America is set to capture maximum industry volume share of around 40% over the projected time line. Increasing aircraft production and deliveries owing to rising air traffic and the presence of multiple industry players in the U.S. are expanding the regional aerospace insulation market share till 2024.

Subject to a dynamic change in the landscape of military and commercial aerospace vehicles, aerospace insulation market has recently gained significant traction indeed. These vehicles are now performing across a broader range of environments, which necessitates an increase in the reliability of the insulation system that directs the operational capabilities of these vehicles. The fact that electrical system insulation as well as thermal and noise insulation are vital in expanding the reliability and lifetime of aerospace vehicles is a major driving force for aerospace insulation industry.

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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. 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.

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Electric aerospace insulation market share is expected to witness the highest CAGR at over 11% from 2018 to 2024. This growth can be credited to the increasing number of electrical components in aircrafts. Thus, the requirement of efficient temperature management for preventing overheating and short circuiting will support the segment dominance over the next six years.

The introduction of low cost carriers accompanied with improving living standards in emerging nations are inducing growth in air travel. This has resulted in increased aircraft production and deliveries. Aircraft manufacturers are ramping up production activities to meet previous backlogs, further fueling the aerospace insulation market share till 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 industry 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.

The presence of high-profile companies such as Dupont, BASF, Zodiac Aerospace, Esterline Technologies, Evonik Industries, and PPG Aerospace in the competitive spectrum of aerospace insulation market has caused quite a stir in this business space, as these firms have been vying for prominence. Research & development programs focusing on the development of materials that may prove to be more efficient insulators and suited for better aerospace performance also range from dime a dozen in this vertical.

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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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