The aerospace insulation market is expected to grow from US$ US$ 5,731.28 million in 2022 to US$ 7,633.23 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2022 to 2028.
Aerospace insulation is crucial in enhancing various aspects of aircraft performance, including thermal management, vibration control, fire resistance, acoustic insulation, and electrical insulation. Maintaining an optimal temperature inside the aircraft is critical, especially during flights, as the outside temperature can drop to as low as -60 degrees Celsius. Aerospace insulation helps keep the cabin warm by filling the space between the inner wall and the fuselage and facilitating pressurization. Effective aerospace insulation also helps reduce noise and vibration, thereby contributing to a more comfortable passenger experience. With the aviation industry expanding rapidly and rising air travel demand, the aerospace insulation market is poised for significant growth. For instance, as per the International Air Transport Association (IATA), there was a 78.7% increase in total air travel demand in April 2022 as compared to April 2021.
The global aerospace insulation market is categorized into five primary regions, namely North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SCAM). The North American region held the largest share of the market in 2021 due to the presence of major anufacturers such as Boeing and Airbus, which has led to a surge in demand for aircraft components. Additionally, the growing air transport sector in the region has contributed to increased demand for aircraft, which has subsequently fuelled the aerospace insulation market.
Impact of COVID-19 Pandemic on Aerospace Insulation Market
The chemicals and materials industry faced significant challenges during the initial months of the COVID-19 pandemic, including the shutdown of manufacturing units that affected the production and supply of fiber cement boards. The logistics and transportation sectors were also hampered by lockdown and social restrictions, which disrupted the supply chains. As a result, there was a decreased demand for aerospace insulation due to the discontinuation of operations in industries such as aerospace, leading to slow demand and disrupted production in commercial aviation. However, the ease of lockdown restrictions and the resumption of global transportation and trade have provided revival opportunities for the chemicals and materials industry, which is expected to drive the growth of the aerospace insulation market in the coming years.
Aerospace Insulation Market Size, by Region, During 2021-2028
The "Aerospace Insulation Market Analysis to 2028" is a comprehensive study of the chemicals and materials industry that focuses on analyzing trends in the aerospace insulation market. The report provides a detailed overview of the market through segmentation based on product, insulation material, aircraft, and geography. The product segment is divided into thermal, acoustic, electric, and vibration insulation. The insulation material segment includes mineral wool, ceramic-based materials, foamed plastics, and fiberglass & others. The aircraft segment is divided into engine and airframe. The market is segmented into five key regions: North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. North America dominated the aerospace insulation market in 2021, but Asia Pacific is expected to show the highest CAGR during the forecast period.
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