New York, March 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Insulation Global Market Report 2023" - https://www.reportlinker.com/p06433609/?utm_source=GNW
, and Orcon Aerospace, Safran S.A.
The global aircraft insulation market grew from $7.39 billion in 2022 to $8.11 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aircraft insulation market is expected to grow to $11.15 billion in 2027 at a CAGR of 8.3%.
The aircraft insulation market consists of sales of cellulose, natural fibers, polystyrene, melamine foams, metal composites, and ceramic composites.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Aircraft insulation is installed in aircraft to enhance the safety and comfort level.Insulation plays an important role in protecting the crew and passengers from frigid temperatures at higher altitudes.
It also provides safety against engine noise. The aircraft insulation is used to enhance acoustic, anti-vibration, thermal, fire-resistant, and electrical insulation properties.
North America was the largest region in the aircraft insulation market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the aircraft insulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of aircraft insulation are thermal insulation, acoustic and vibration insulation, and electric insulation.Thermal insulation refers to the process of insulating material by transferring heat between the materials that are in thermal contact.
The different platforms include fixed wing, rotary wing, and unmanned aerial vehicles and involve several materials such as foamed plastics, fiberglass, mineral wool, ceramic-based materials, and others. The applications involved are airframe and propulsion systems.
An increase in demand for lightweight insulation materials is expected to propel the growth of the aircraft insulation market going forward.Lightweight insulation materials refer to the low thermal conductivity of the material and it means that lesser thickness is needed than that of most other insulants for achieving a particular level of thermal performance.
The lightweight insulation materials are a natural fit for aircraft insulation due to their light weight compared with other industrial materials. For instance, in July 2021, the University of Bath, a UK-based public university, developed a graphene oxide aerogel weighing 2.1 kg/m3 making it the lightest sound insulation ever manufactured. Therefore, the increase in demand for lightweight insulation materials is driving the growth of the aircraft insulation market.
Technological advancements are the key trends gaining popularity in the aircraft insulation market.Major players and research institutes are focused on developing new technological solutions to reinforce their position.
For instance, in October 2021, Researchers at Riga Technical University’s Institute of Aeronautics, a Latvia-based technical university institute developed a multilayer metal-ceramic nanocoating, called McBLADE using nanotechnology for the aviation industry, enabling modification of aircraft frames, interior and engine components for improved performance, fuel efficiency, and lower operational costs. Nano coatings would also provide specialized functionality to the product, including electrical conductivity, electrical or thermal insulation, hydrophobicity, and light reflection.
In May 2022, TransDigm Group Incorporated, a US-based manufacturer and developer of aircraft components, acquired DART Aerospace for $360 million.The acquisition is expected to generate equity value in line with the company’s long-term goals for returns akin to those of private equity.
For the calendar year ending December 31, 2022, the DART company is anticipated to generate pro forma revenues of about $100 million. DART Aerospace is a Canada-based developer of innovative, highly engineered helicopter mission equipment.
The countries covered in the aircraft insulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aircraft insulation market research report is one of a series of new reports that provides aircraft insulation market statistics, including aircraft insulation industry global market size, regional shares, competitors with an aircraft insulation market share, detailed aircraft insulation market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft insulation industry. This aircraft insulation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06433609/?utm_source=GNW
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