According to a new market report published by Lucintel, the future of the aerospace insulation market looks positive with opportunities in commercial aircraft, regional aircraft, and general aviation. Insulation in the global aerospace industry is forecast to grow at a CAGR of 2.8% from 2015 to 2020. The major growth drivers of this market are increasing deliveries of aircraft and the demand for lightweight insulation materials. Aerospace industry players are focusing on reducing the weight of aircraft, which necessitates the demand for lightweight products and materials.
In this market, thermal and acoustic insulation are the two types of insulation. Thermal insulation is the largest segment by product, and it is expected to remain the same during the forecast period. Lucintel predicts that the demand for insulation in the regional aircraft segment is likely to experience the highest growth in the forecast period supported by rise in delivery of regional aircraft. The insulation in commercial aircraft segment has the largest contribution in the market. On the basis of its comprehensive research, Lucintel forecasts that the regional aircraft segment and the general aviation segment are expected to show above average growth during the forecast period.
Within the insulation market, the commercial aircraft segment will remain as the largest segment by value because of increase in demand of wide body commercial aircraft.
North America is expected to remain the largest market due to the growth in aircraft deliveries and increasing demand for light weight materials. Asia Pacific and Rest of the World are expected to grow significantly by virtue of growth in the commercial and regional aircraft markets. Growth in manufacturing of aircraft and aircraft components is expected to help in the expansion of the insulation market in APAC and ROW. Expansion in China's domestic aerospace market will raise the demand for the insulation market in this region.
For market expansion, the report suggests innovation and new product development, where the unique characteristics of aerospace insulation can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and the development of performance-driven solutions for end users. BASF, DuPont, 3M, Triumph Group Inc., Esterline, Evonik Industries, Rogers Corporation, and Zotefoams are among the major suppliers of aerospace insulation. Some companies are opting for M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed insulation in the global aerospace market by application, region, and aircraft type and has come up with a comprehensive research report, “Growth Opportunities for Insulation in the Global Aerospace Industry 2015-2020: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a spring board for the growth strategy as it provides a comprehensive data and analysis on trends, key drivers and directions. The study includes a forecast of the insulation in global aerospace market through 2020, segmented by region, aircraft, and application as follows:
By aircraft type (Value $ Million from 2009 to 2020)
- Commercial Aircraft
- Regional Aircraft
- General Aviation
By application type (Value $ Million for 2014)
- Thermal insulation
- Acoustic insulation
By region (Value $ Million from 2009 to 2020)
- North America
- Asia Pacific
- Rest of World
This 142-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/reports/aerospace_defense/growth_opportunities_for_insulation_in_global_aerospace_industry_2015-2020_trends_forecast_and_opportunity_analysis.aspx or contact us at firstname.lastname@example.org. About Lucintel
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