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Ceramic-based aerospace insulation market to gain commendable remuneration over 2018-2024, R&D activities to strongly characterize the global industry landscape
In the recent years, global aerospace insulation market has been witnessing an exponential growth owing to the surging demand for light weight aircrafts equipped with lower thermal conductivity and enhanced safety. As per the recently published estimates of the International Air Transport Association (IATA), the worldwide demand for air travel incremented by 7.2 percent in October 2017 and the airline capacity increased by 6.2 per cent. To add to it, the foremost trade organization, representing some 275 airlines of the world, has predicted that the global airlines industry is set to garner a record profit in the year 2018, courtesy the recent upswing in developed economies and the burgeoning tourism sector, which would eventually contribute immensely to aerospace insulation market.
U.S. Aerospace Insulation Market, By Product, 2017 & 2024, (Tons)
Apparently, the rapid escalation in air passenger traffic has compelled the aerospace regulating authorities across various nations to prescribe stringent laws regarding the utilization of insulating materials by aircraft manufacturers to enhance the operational safety of the aircrafts. Consequentially, it goes without saying that the aforementioned factors are bound to impel the overall aerospace insulation industry over the forthcoming years.
Ceramics to emerge as a robust investment hub for aerospace insulation market contenders:
Concurrently, while contemplating upon the growth trajectory of aerospace insulation industry, which held a total remuneration in excess of 3 billion in the year 2017, it is rather imperative to cite the significance of insulating materials utilized in this business space. The insulating products utilized across various types of aircrafts include mineral wool, foamed plastics, fiber glass, and ceramic materials. Out of these, ceramics are anticipated to emerge as the most popularly used material, courtesy their high tensile strength, steep melting temperature, and impressive chemical inertness.
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According to estimates, ceramics are expected to account for more than 50% of the overall aerospace insulation market share by 2024. Elaborating further, this material has been witnessing remarkable research activities of late. With humongous resources being poured in the research and development of advanced ceramics, there’s no denying the impact ceramics would have on the aviation, space exploration, commercial, and defense sectors, which would further accentuate the growth prospects of global aerospace insulation industry. Following are a few instances that underline the prominence of ceramics in the overall aerospace insulation industry space:
- As per recent news reports, researchers from Harbin Institute of Technology, Lanzhou University and Purdue University in collaboration with the U.S. Air Force Research Laboratory, have cited the development of a new flame resistant, light weight, and ultra-elastic ceramic material which blends the nanolayers of aluminum oxide (a ceramic) with graphene. The latest ceramic, being called as “metamaterial”, is said to consist of an innovative honeycomb microstructure that equips the material to combine high tensile strength with enhanced thermal insulation and electrical conductivity, remnant of extensive applications that would impel the aerospace insulation industry share over the forthcoming years.
- Citing another instance, scientists of Tsinghua University, China and Brown University, Rhode Island have jointly developed a new ceramic material which is said to possess an exceptional capability to rebound back to its original form after compressing up to 50 percent. Furthermore, the latest ceramic can endure a high amount of temperature which makes it an ideal alternative to be utilized as a heat-resistant and flexible insulating material in aerospace insulation industry.
Speaking of the regional growth potential of aerospace insulation market size, Asia Pacific region is set to emerge as one of the most lucrative spaces owing to the rising demand for commercial aircrafts in countries like India, China, and Thailand. In addition, various governments of the region are strengthening R&D efforts by investing heavily in defense aviation sector. To cite an instance, the Indian government is estimated to invest approximately USD 35 billion in the upcoming few decades, as it attempts to fortify its military aviation might.
All in all, these global trends coupled with the exponential increase in the number of commercial aircrafts are certain to provide a slew of commercialization opportunities to the global aerospace insulation industry. According to a research report collated by Global Market Insights, Inc., aerospace insulation market is forecast to exceed USD 5 billion by 2024.
Author Name : Saif Ali Bepari
Aerospace maintenance chemical market valuation to surpass USD 8.8 billion by 2024, commercial flights to emerge as one of most lucrative revenue contributors
The robust expansion across global aviation sector can be aptly credited for the growth of aerospace maintenance chemical market. Given the extensive requirement of rigorous maintenance in commercial, military, and business aircrafts, companies have been going the whole hog to brainstorm unique chemicals that would ease the aircraft maintenance process. As the aviation sector witnesses extensive growth and the demand for maintenance, repair and overhauling of aircrafts increases with the rising volume of airline traffic, aerospace maintenance chemical industry outlook is likely to observe a dynamic transformation in the years ahead.
U.S. Aerospace Maintenance Chemicals Market, By Aircraft, 2016 & 2024, (USD Million)
As per estimates, aerospace maintenance chemical market size stood at a modest USD 7 billion in 2017. However, increased global connectivity through airlines has raised the frequency of air travel – a trend has provided an impetus to the travel and tourism sector. Thus, with the growth of the aerospace domain, aircraft maintenance has emerged as a niche vertical, essentially propelling aerospace maintenance chemicals market.
This business space encompasses numerous products along the likes of aircraft leather cleaners, specialty solvents, aircraft cleaning chemicals, degreasers, aviation paint strippers, etc. Aircraft cleaning chemicals among these is estimated to be a major contributor toward aerospace maintenance chemical market share, given their massive demand for thoroughly disinfecting and cleaning aircrafts. Aircraft cleaning service providers are required to deal with problems like limited service time due to enhanced flight frequencies, strictly abiding by ground time schedules and errant weather conditions. In consequence, these cleaning service providers prefer aerospace maintenance chemicals that are highly efficient and can perform better in lesser amount of time, which would undeniably propel aerospace maintenance chemicals industry outlook.
Aviation paint removers also have a considerable role to play in the growth of the aerospace maintenance chemical market. It is prudent to mention that aircraft paint is removed and repainted every 5 to 6 years for elongating the shelf life of aircrafts as well as to make them more appealing. Indeed, this is certain to massively propel aerospace maintenance chemical industry size from aviation paint removers, slated to register a 3.7% CAGR over 2018-2024. The advancement of laser coating remover technology, in which an essentially gigantic robot is used to remove paint from aircrafts, will also contribute substantially to the progress of the aerospace maintenance chemicals industry.
Theoretically, aerospace maintenance chemicals can either be organic or inorganic in nature. The former is slated to account for 60% of the overall aerospace maintenance chemical market share by 2024, given that they are rather labor friendly and suitably viscous in nature. However, price competitiveness of inorganic aerospace maintenance chemical along with their easy product compatibility and availability as per customization will also make consumers lean toward these products propelling inorganic aerospace maintenance chemical industry outlook.
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The more an aircraft is used, the more maintenance it requires. Commercial flights, the most commonly deployed flights, would thus demand the maximum utilization of maintenance products, thereby, directly stimulating the growth of the aerospace maintenance chemical market. Statistics in fact, claim that commercial flights account for 45% of the overall aerospace maintenance chemicals market share and would grow rapidly over 2018-2024. This growth can be credited to the fact that these flights make the highest number of trips and are faced with not only the largest amount of wear and tear but also necessitate robust interior cleaning and maintenance, degreasing, paint removal and application.
Commercial aviation is also one of those industries that has been depicting an irregular demand-supply graph. Commercial aircraft manufacturers such as Boeing and Airbus have also been working to enhance their manufacturing capacity, fueling the need for highly efficient commercial planes. Boeing in fact, recently in 2018, planned to increase the production of Boeing-747 by 52 aircrafts per month to cover up for the recorded backlog of 4,656 aircrafts.
The vast expanse of the aerospace industry in North America, especially in the U.S. and the formidable fleet of aircrafts that the U.S. military and defense sector encompasses, will provide a major push to North America aerospace maintenance chemical market. In fact, as per estimates, North America industry size stood at USD 2 billion in 2017, and is expected to register a CAGR of 2.5% over 2018-2024.
Reduced air travel costs, better air connectivity, greater affordability among the populace of the emerging economies and the rising popularity of the tourism sector have been the driving forces behind the growth of aerospace maintenance chemical industry in the last few decades. With greater demand for air travel, stringent governmental regulations have been placed on the importance of aircraft maintenance. For instance, the Federal Aviation Administration (FAA) and European Aviation Safety Agency (EASA) are now making extensive modifications in maintenance procedures. Driven by government-led initiatives and increasing air travel popularity, the revenue graph of aerospace maintenance chemical market would traverse a highly profitable growth path over 2018-2024.
Author Name : Paroma Bhattacharya
Global Market Insights Inc. 