航空機用断熱材市場 - 動向、予測、競合分析、成長機会：2020年～2025年
Aircraft Insulation Market By Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, & Others), Insulation Type, Material Type, Application Type, Region, Trend, Forecast, Competitive Analysis, & Growth Opportunity: 2020-2025
|航空機用断熱材市場 - 動向、予測、競合分析、成長機会：2020年～2025年|
発行: Stratview Research
ページ情報: 英文 225 Pages
COVID-19 (新型コロナウイルス感染症) は、航空業界の16年間の恩恵を終わらせています。COVID-19の影響の可能性は、SARS (2002年～2003年) やMERS (2015年) より深刻であると予想されます。IATAの最近の見積もりによると、航空業界は、2,520億米ドルの旅客収入の損失の可能性を記録すると予想されています。航空業界は、アウトブレイクの被害が最も大きい業界の1つで、複数の国の旅行制限と完全なロックダウンによる旅客の大幅な減少の中で航空会社は苦戦しています。
This comprehensive report studies the aircraft insulation market over the trend period of 2014 to 2019 and the forecast period of 2020 to 2025. The report estimates the current and future demand for aircraft insulation at the global, regional, and country levels. The report also studies all the major suppliers of aircraft insulation systems located across the globe. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.
The coronavirus is ending the aviation industry's 16-year boon. The possible impact of the COVID-19 is anticipated to be graver than the SARS (2002-2003) and the MERS (2015). As per the recent estimates of IATA, the airline industry is expecting to record a possible loss of US$ 252 billion of passenger revenues, an equivalent of a 38% loss in RPKs in 2020 from 2019. The aircraft industry is among those industries which are hardest hit by the outbreak with airlines struggling amid a huge drop in air passenger traffic due to travel restrictions and complete lockdown of several countries. Several airlines are running at only 5% to 40% of their total capacity and are investing a huge amount on parking their fleets, leading to their stock fall out and bankruptcies of several regional airlines.
The industry was already struggling with the ongoing grounding of B737 Max, P&W 1100G engine series failure (A320neo), delayed deliveries of upcoming aircraft programs such as B777x, and revised production rates of key aircraft programs; A350XWB and B787 due to cancellation of orders. The industry was expecting to recover from most of the challenges from the 2nd Half of 2020 but the recent outbreak of fatal infectious disease, COVID-19, across regions further triggered the industry pain to an unprecedented level.
Both major aircraft OEMs, Airbus and Boeing, are also not remained untouched from this situation. Both OEMs are adapting themselves to face such critical situations by temporarily halting their production/assembly plants in several parts of the world. Airbus, which had previously halted its factories in France and Spain for four days, now announced to temporarily halt its commercial aircraft production/assembly plants in Germany and the USA. Reportedly, Airbus has also slashed production rates of some of its previously best-selling aircraft (A320s, A330s, and A350s) by one-third. Boeing is also on a similar path, has halted production in its facility at Seattle for two weeks and has also recently announced a temporary shutdown of its B787 facility in South Carolina. The company has not announced yet, the change in production rates of their aircraft programs in the adaption to the outbreak. There is speculation that it may announce a slash in their key wide-body aircraft production rates similar to Airbus.
Many wax and wanes of the aviation industry over the decades have generated many case studies with ample shreds of evidence that the aircraft industry stakeholders have learned the art to rise again from such deadly market shocks. It is anticipated that the market will start witnessing positive growth from 2021 onwards and will grow faster in order to fill the voids generated during 2019 and 2020. The market for insulation systems in the aircraft industry is set to reach an unprecedented level of US$ 0.8 billion in 2025.
An expected recovery in commercial aircraft deliveries supported by huge order backlogs of Boeing and Airbus (13,237 aircraft at the end of Feb 2020), expected FAA approval to Boeing for the B737 Max program, the market entries of new players (COMAC and Irkut), and the development of fuel-efficient variants (B777x, A330neo, E-2 jets, etc.) assure that the market fundamentals remain strong in the next five years.
Furthermore, growing demand for lightweight insulation systems and advanced acoustic and fire-resistant insulation systems add some stir to the market growth. The comfort interior environment is another key requirement of the industry in which insulation plays a vital role. Apart from comfort, reduction in noise, anti-vibration property, and fire barrier are also some of the other key functions, necessitate the use of the insulation system in an aircraft.
Based on the aircraft type, the aircraft insulation market is segmented as commercial aircraft, regional aircraft, general aviation, military aircraft, and helicopter. Commercial aircraft is likely to remain the largest and the fastest-growing aircraft type in the market over the next five years. An expected rebound in commercial aircraft deliveries with the FAA approval to Boeing for B737Max is anticipated to bring the charm back of the aircraft segment. Furthermore, the growing demand for safer operations and lightweight insulation systems add some stir to the growth of the market segment. General aviation also holds a fair share of the market and is subjected to grow at a modest rate in years to come.
Based on the insulation type, the aircraft insulation market is segmented as thermal insulation, acoustic insulation, and electric insulation. Thermal insulation is likely to remain the most dominant insulation type in the market over the next five years. Various types of thermal insulation systems are used in an aircraft, which are fuselage annulation (thermal insulation blankets and lining) and high-temperature insulation and firewall blankets (flexible, metallic, Firewall, seals, conductive gaskets, etc.). Thermal insulation blanket (TIB) offers a fire barrier apart from thermal and acoustical insulation as well as it provides weight reduction when compared with metal. Further, it is corrosion-resistant, water repellent, and environmentally friendly and provides good electrical insulation. Acoustic insulation also holds a considerable share of the market. Acoustic insulation is required to attenuate noise and to provide comfort and reliability as a lot of noise is generated in an aircraft, majorly from aerodynamics and engines.
Based on the material type, the market is segmented as foamed plastic insulation, fiberglass insulation, ceramic insulation, and other insulations. Fiberglass insulation is estimated to maintain its unassailable lead in the market in years to come. Fiberglass batting encapsulated with covering film plastics is majorly used as thermal acoustic insulation blankets for commercial and regional aircraft fuselage. Fiberglass blankets are mainly manufactured with the flame-attenuated process that helps to uniformly distribute fiberglass with low-heat transfer characteristics.
Foamed plastic insulation is expected to witness the highest growth during the forecast period, owing to its good sound-absorbing properties and thermal insulation properties which make it an appropriate claimant for thermal acoustic insulations. Further, other noticeable properties of foamed plastic insulations include excellent resistance to fire, smoke and toxicity (FST), lightweight, maintaining flexibility for a wider temperature range, and wider compatibility with many different facings, coatings, adhesives, and covering films.
In terms of regions, North America is likely to remain the most dominant market for aircraft insulation during the forecast period. The region is the hub of the aircraft industry with the presence of several raw material suppliers, aircraft insulation manufacturers, tier players, aircraft OEMs, airlines, aircraft leasing companies, and MRO companies. The recent spread of COVID-19 in the USA disrupted the supply chain of the country's aviation industry, compelling aircraft OEMs including Boeing to shut down their manufacturing facilities as per government directives. Despite the severe hit of the region's aircraft insulation market due to the COVID-19 outbreak, the region will likely to be succeeded in maintaining its lead in the global market during the studied period.
Asia-Pacific, currently positioned at third in the global market, is estimated to witness the highest growth during the same period. The region's aviation industry is anticipated to be hit most severely with a possible loss of US$ 88 billion in passenger revenues, an equivalent of 37% loss in RPKs in 2020 when compared with 2019, as per IATA recent estimates. Undoubtedly, the demand for aircraft insulations will be negatively affected in the region for a shorter period but the long-term market outlook still seems vigorous with attractive opportunities in years to come. Boeing, in its 2018-2038 outlook, anticipated that approximately 17,050 commercial and regional aircraft are likely to be delivered in the next twenty years in the Asia-Pacific region. Other factors favoring the region's healthy long-term outlook are the opening of assembly plants of Boeing and Airbus in China for B737, A330, A320, and A350; higher involvement of Japanese and Chinese tier players by becoming risk-sharing partners in the next-generation aircraft, high focus on the indigenous development of commercial and regional aircraft (COMAC C919 and Mitsubishi SpaceJet), and rising aircraft fleet size.
The supply chain of this market comprises of raw material suppliers, aircraft insulation system manufacturers, distributors, tier players, OEMs, airlines and MRO companies. Some of the key players in the aircraft insulation market are the 3M Company, DuPont de Nemours, Inc., Daher, BASF SE, Hutchinson SA, Darchem Engineering Ltd, Triumph Group, Inc., Hi-Temp Insulation, Inc., Boyd Corporation, Tecnologie Industriali e Aeronautiche Srl, Isolite GmbH, G-Force Manufacturing, and Geven SpA. The development of lightweight and durable insulation systems and the formation of strategic alliances are among the most noticeable strategies embraced by market participants to gain a competitive edge over others.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conduct more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report: