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Global Aircraft Insulation Materials Market Expected to Reach US$ 33,570.3 Million by 2027


Global Aircraft Insu

iCrowdNewswire   Jan 12, 2021  10:00 AM ET

33_Global Aircraft Insulation Materials Market Size & Forecast

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Aircraft Insulation Materials Market by Type, Application, Sales Channel, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at US$ 18,565.8 Million in 2019 and is expected to grow at a healthy growth rate of 7.8% by the year 2027. The overall air traffic growth is increasing at a rapid pace globally owing to the increased urbanization and globalization. According to the International Air Transport Association (IATA), there were 3.8 billion air travelers throughout the world and it is expected that in the year 2035 it will reach 7.2 billion passengers. Hence, this has resulted in a rise in the manufacturing of commercial aircraft.

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The global aircraft insulation materials market is fragmented based on types, applications, sales channels, and region. On the basis of types, the aircraft insulation materials market has been segmented into thermal, acoustic & vibration, and electric insulation. Thermal insulation plays a vital role in maintaining a comfortable environment while the aircraft is in the air owing to these thermal insulation materials being used significantly in the aircraft. Based on material types, the aircraft insulation materials market has been classified into foamed plastic, mineral wool, fiberglass, ceramic-based materials, and other materials. Based on the application, the market is fragmented into military aviation, civil aviation. By Sales Channel, the market is bifurcated into manufacturer, distributor, and service provider. Based on the region, the global aircraft insulation materials market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is further bifurcated into countries such as the U.S., and Canada. The Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, the Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into the U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, Turkey, Egypt, South Africa, UAE, and Rest of the Middle East & Africa (MEA).

In the year 2020, the aircraft insulation materials market is expected to witness a lower sale due to the adverse effect COVID 19 pandemic on business across the world. The COVID-19 pandemic has had a rapid and serious impact on the global manufacturing and financial sectors. However, no clarity on the deeper effects has been provided. Global disruptive supply chain, lack of raw material availability, temporary shutdown of production units is the reason for lower production output.

As per GMR industry analyst Vidya, “The global aircraft insulation materials market is anticipated to witness significant growth during the forecast period 2020-2027 driven by the demand for lightweight aircraft in the military and commercial sector is growing, which, in turn, is boosting the usage of lightweight insulators. Many manufacturers in the aircraft insulation segment are investing heavily in research activities to develop and launch cost-effective and lightweight insulators, which can have modular functionalities and high recyclable components. Aviation regulatory authorities across the globe, such as the European Aviation Safety Agency (EASA) and the Federal Aviation Administration (FAA), are imposing several standards, procedures, and norms to improve flight safety”.

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Key Takeaways from the Study:

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Report Scope:

Report Metric

Details

Market Value in 2019

US$ 18,565.8 Million

Market Growth Rate (from 2021 to 2027)

7.8 %

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Units Considered

Value (US$ Million)

Market Segments

By Type, By Application, By Sales Channel

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

U.S., Canada, Brazil, Mexico, Rest of Latin America, India, China, Japan, South Korea, India, Australia, Rest of Asia Pacific, U.K., France, Germany, Italy, Spain, Russia, Rest of Europe, Iran, South Africa, Turkey, Egypt, UAE, and Rest of MEA.

Key Companies Profiled

Honeywell International Inc., Siemens, Johnson Controls, Schneider Electric, Carrier (United Technologies Corporation), Robert Bosch GmbH, Hubell (Hubbell Incorporated), ABB, Legrand, Building IQ, Ingersoll Rand (Trane), Lutron Electronics Co., Inc., and Crestron Electronics, Inc.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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