Global Aircraft Insulation Market - Market Size & Forecasting To 2032

Global Aircraft Insulation Market - Market Size & Forecasting To 2032

The aircraft insulation market was valued at USD 5.94 billion in 2022 and is projected to reach USD 13.13 billion by 2032, at a CAGR of 8.28% during the forecast period. Rising commercial aircraft deliveries & passenger traffic, low cost of the composite materials, availability of advanced acoustic & fire resistant materials and growing demand for air transport such factors propel the growth of aircraft insulation market. Also, growing demand for lightweight insulation material is expected to enhance the market growth.

Aircraft insulation is used to minimize the aerodynamic vibrations and noises coming from the engine. With the growing safety concerns, aircraft insulation has got prominent attention to ensure the passengers' safety, comfort and proper communication inside the cabin. In addition, rising demand for fuel efficient engines with corrosion resistant insulation is expected to boost the demand for aircraft insulation during the forecast period. Similarly, stringent safety regulations placed by the Federal Aviation Administration for aircraft insulation is expected to drive the market.Aircraft insulation market is segmented on the basis of type, material, application, platform, and region.

Based on type, market has been divided into thermal insulation, acoustic & vibration insulation and, electric insulation. The thermal insulation segment projected to gain higher share during the forecast period due to as thermal insulation systems helps in maintaining a comfortable environment inside the aircraft and reduces vibration and noise when the aircraft is in flight. However, rising government initiatives for strengthen the insulation manufacturing industry and improve energy savings through eco-friendly products expected to boost thermal insulation industry revenue. Enhanced user safety owing to low thermal conductivity of materials will further fuel the market growth.Based on material, market has been divided into foamed plastics, fiberglass, mineral wool, ceramic-based materials, and other materials. Among these, ceramic-based materials segment projected a higher growth rate during the forecast period. Advanced and modern ceramics materials have gain popularity across aerospace and aviation design, manufacturing, and development. Ceramic material has extensively used for several aerospace applications including batteries, semiconductors, and magnets for aircraft tiles.Based on application, market has been divided into airframe and engine. Airframe segment further divided into aerostructure, cabin interior, aircraft systems, and landing gear. Among these, engine segment projected to gain higher share during the forecast period. Engines are one of the most essential parts of an aircraft, which provide the necessary thrust to move an aircraft through the air. Engine segment has a higher demand for thermal insulation as it is vital to maintain the temperature and prevent overheating of the engine for its smooth functioning.Based on platform, market has been divided into fixed wing and rotary wing. Fixed wing segment projected to gain a significant share during the forecast period with rising usage of these materials for acoustic and thermal insulation. Also, Cabin interiors of fixed wing aircraft, and ancillary ground support equipment will support its significant growth.By Region, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America region projected a higher share during the forecast period due to presence of key players operating in the market along with an established infrastructure and government spending. This region is dominated by the US with a substantial market share. In addition, rising in passenger and freight traffic in the country, leading to a rise in MRO activities for commercial aircraft, is projected to drive the market. In other side, Asia pacific projected a significant share during the forecast period. Increasing passenger traffic and adoption of various growth strategies by airlines is expected to propel the growth of market.

Further, the ongoing COVID-19 pandemic expected has a negative impact on the aircraft insulation market revenue. As per the IATA, aviation industry across world has witnessed a total revenue loss of more than USD 400 billion owing to the restriction on air travels in major countries. Similarly, temporary shutdown of major aircraft manufacturing facilities will further hinder the market demand.

The competitive scenario highlights the performance of major companies operating in this market. This includes detailed profiling of major companies and their competitive benchmarking. Product profiling provides key information including products/solutions offered, key developments, company performances, and strategies adopted in the recent years. Major companies profiled in the market include DuPont, Triumph Group Inc., Esterline Technologies Corporation, BASF SE, Zotefoams Inc., Duracote Corporation, Polymer Technologies Inc., Morgan Advanced Materials, InsulTech LLC, Zodiac Aerospace and others. These companies have adopted product development, expansion, and merger strategies to consolidate market position amongst intense competition.