San Francisco, 27 May 2022: The Report Aerospace Foam Market Size, Share & Trends Analysis Report By Foam Type (PU, PE), By End Use (Commercial, General Aviation), By Application (Carbon Walls & Ceilings, Aircraft Seats), And Segment Forecasts 2022 - 2030
The global aerospace foam market size is anticipated to reach USD 9.52 billion by 2030, according to a new report by Grand View Research, Inc., growing at a CAGR of 6.5% over the forecast period. Increasing demand for fuel-efficient aircraft, due to extensively increasing fuel prices, has propelled manufacturers to minimize aircraft weight. Hence, manufacturers have adopted the installation of aerospace foams in various aircraft applications, such as flight deck pads, carbon walls & ceilings, aircraft seats, and aircraft floors, which contribute to the formulation of lightweight aircraft. Aerospace foam, especially Polyurethane (PU)- and Polyethylene (PE)-based foams are primarily utilized across the aircraft for insulation purposes, avoiding any thermal and air pressure exchange between the aircraft and the other environment.
Furthermore, the requirement for comfortable and luxurious seating across the aircraft to provide a pleasant flight experience has increased product demand across the airline industry. This is anticipated to boost industry growth over the forecast period. North America is expected to benefit from a rapidly expanding airline industry across the U.S., where aerospace foams are mainly utilized in applications, such as sealants for flight deck pads, carbon walls & ceilings, aircraft seats, and aircraft floors. High consumer disposable income levels and luxurious standards as a preference for air travel are also anticipated to foster demand for a comfortable seating experience, leading to a rise in aerospace foam sales.
Increasing fuel prices have propelled aircraft manufacturers to minimize aircraft weight and to carry more loads in a go. Hence, these manufacturers have adopted the installation of aerospace foam across various aircraft applications, such as flight deck pads, carbon walls & ceilings, aircraft seats, and aircraft floors. Furthermore, increasing commotion across air travel in recent years has propelled the demand for aircraft across all end-uses including general aviation, commercial aviation, military aircraft, and rotary aircraft.
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Hence, this has positively impacted the utility of aerospace foam across aircraft manufacturing and is prominently expected to grow during the forecast period. The U.S. generated the largest demand for aerospace foam in 2021 and is anticipated to follow a similar trend over the forecast period. The high product demand across the country is primarily driven by the strong growth of the aerospace industry due to increased inter-state travel during the past decade as a result of increased disposable income. The U.S. military services have been a significant industry for the propulsion of demand for aerospace foam across military aircraft, owing to the increased use of aerospace foam across the external fuel tanks.
For instance, in August 2022, aircraft manufacturer Boeing successfully delivered four MH-139A test helicopters to the U.S. Air Force (USAF) to support four major air force commands, and protection against the intercontinental ballistic missiles, along with other operating agencies. In 2020, due to the outbreak of the COVID-19 pandemic across the globe, the global airline industry took a major jolt due to multiple flight cancellations, airport stand still, and manufacturing units coming to rest for containing the spread of the virus, which, in turn, negatively impacted the growth of the industry. However, due to the increasing rate of recovery and availability of vaccines globally, the operations of the airline industry were resumed, significantly revamping the product demand.
The global industry is characterized by the presence of several players. Key players are actively involved in adopting strategies targeted toward attaining sustainable transition, sales execution, and efficient pricing. Such players offer broad capabilities as well as capacities, which enables them to cater to diversified needs arising across multiple end-use industries.
