North America aerospace insulation market to accrue commendable returns by 2024, rising rate of air travel to augment the regional industry landscape
Publisher : Fractovia | Published Date : 2018-09-04Request Sample
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.
U.S. Aerospace Insulation Market, By Product, 2017 & 2024, (Tons)
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.
Low weight coupled with high performance are the major requirements of any material for aerospace insulation. In this regard, thermal as well as electric insulation are of high significance in airplanes as they provide enhanced thermal, acoustic, fire and vibration barrier. Thermal insulation systems help to create a comfortable environment within the aircraft during the flight by intensely reducing noise levels and exhibiting commendable anti-vibration abilities. Driven by the same, thermal insulation accounted for a massive 70% of aerospace insulation industry share.
As 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.
Among the various materials used for effective insulation, foamed plastics and fiber glass have been found to be most beneficial and popular. The high tensile strength, durability and rigidity of foamed plastics such as polyethylene, ceramic foam and polyurethane have lured insulation manufacturers for long.
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. As the trends across the polymer and air transportation spheres continue to undergo a change, aerospace insulation market share is expected to depict a massive incline. As per estimates, aerospace insulation industry size will surpass an estimated deployment of 270 kilo tons of insulation material by 2024.
