The global aerospace insulation market size is expected to reach USD 12.28billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.2% from 2020 to 2027. Surge in aircraft deliveries and growth in MRO activities owing to surging passenger and freight movement across the globe are expected to drive the market over the forecast period.
Majority of the manufacturers choose to independently distribute their products in order to better serve their customers in case of customized products, which helps them to increase their profit margin. Manufacturers also establish strategic relationship with tier 1 suppliers and provide solutions to the end users through direct or third-party distribution.
The market is characterized by the presence of established players with a strong financial base, thereby presenting high entry barriers in the market. Moreover, the aircraft manufactures usually opt for reliable suppliers with high goodwill on account of past product procurement, thus making it difficult for the new entrants to establish their business. Hence, the threat of new entrants is anticipated to be low as high initial capital investment is required.
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Key players in the market are focused on increasing their market share through new product developments, rather than mergers & acquisitions. Companies in the market are focusing on expanding their product portfolio by developing cost-effective insulation products with enhanced properties.
Aerospace Insulation Market Report Highlights
- Ceramic materials are expected to witness the fastest growth from 2020 to 2027 on account of high product penetration in engine application
- By product, thermal insulation dominated the market with a share of 66.3% in 2019 owing to the extensive use of thermal insulation in aircraft manufacturing as well as aftermarket
- Based on end use, the military segment is expected to reach USD 3.02 billion by 2027 on account of rise in military spending by NATO countries to deal with growing threat of terrorism
- North America held the largest share of 40.74% in 2019 owing to increasing demand from the established aircraft industry in the region
- Key industry participants are focused on building long-term contracts with the end users in order to gain a competitive edge over their competitors.
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Aerospace Insulation Market Segmentation
Grand View Research has segmented the global aerospace insulation market on the basis of material, product, application, end use, and region:
Aerospace Insulation Material Outlook (Revenue, USD Million, 2016 – 2027)
- Ceramic Materials
- Mineral Wool
- Foamed Plastics
Aerospace Insulation Product Outlook (Revenue, USD Million, 2016 – 2027)
Aerospace Insulation Application Outlook (Revenue, USD Million, 2016 – 2027)
Aerospace Insulation End-use Outlook (Revenue, USD Million, 2016 – 2027)
- Business & General Aviation
Aerospace Insulation Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
List of Key Players of Aerospace Insulation Market
- Duracote Corporation
- Rogers Corporation
- BASF SE
- Esterline Technologies Corporation
- Triumph Group Inc.
- Zodiac Aerospace
- Evonik Industries
- Polymer Technologies Inc.
- UPF Corporation
- Boyd Corporation
- Johns Manville
- AVS Industries
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.Forecasts, 2020 – 2027
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