Aerospace Foams Market Share, Growth Size, Revenue Share, Drivers & Trends Analysis 2030

Market Synopsis

According to MRFR analysis, Aerospace Foam Market share is projected to be worth USD 10.17 billion by 2028, registering a CAGR of 11% during the forecast period (2021 - 2028)

The growth in the number of passenger traffic due to the rising per-capita income and emergence of low-cost airlines are fueling the growth of the commercial aircraft segment, which in turn, is expected to contribute to the growth of the global aerospace foams market in the coming years.

Pricing and Regulatory Analysis

In 2018, the Aerospace Foams Market share were priced between USD 2.5 and USD 5 per square meter across the globe.

Several aviation-based international governing authorities such as the International Traffic in Arms Regulations (ITAR), National Qualifications Authority (NQA), and Aircraft Information Management Systems (AIMS) have framed safety requirements for airlines and aircraft structures.

SEGMENTATION

By Type

Polyurethane Foam: The segment held the largest share of the global aerospace foams market in 2022 owing to its low cost and superior performance characteristics over other types of foams such as closed-cell structure, high rigidity, resistance to water and fire, and excellent durability. Polyurethane foam is finding increasing demand in the manufacturing of aircraft seating, floor covering, flight deck pads; passenger cabin walls; aircraft ceilings; overhead stowage; interior aircraft class dividers; aircraft galleys; and lavatories. It is also preferred in the manufacturing of Boeing BMS 8-133.

Polyethylene Foam: Polyethylene foams Size also finds applications in aircraft manufacturing due to its excellent thermal and chemical resistance properties.

Melamine Foam: Melamine foam is generally used for its excellent thermal and acoustic insulation property in the interior sidewall panels of aircraft.

Metal Foam: Metal foams are largely preferred for military aircraft due to its excellent mechanical strength on account of its configuration that includes hollow metal spheres.

Polyimide Foam: Polyimide foams are extreme temperature resistant and non-flammable, along with being light-weight and durable. This led to its widespread use in F110 engines, F135 engines, B-2 engine, F-117 engine, F-22 engine, missile structures, and fifth- sixth-generation engines.

Others: The others segment includes PET Foam, PVC Foam, Specialty High-Performance Foam, Polymethacrylimide (PMI) Foam, Polyetherimide (PEI) Foam, Polyethersulfone Foam (PES) Foam, Polyphenylsulfone (PPSU) Foam, and Polyvinylidene Fluoride (PVDF) Foam

By Application

Aircraft Seats: The segment accounted for the largest share of the global market in 2018 and is expected growth to continue the similar trend during the forecast period. The growth in the number of passenger traffic across the world is boosting the manufacturing of new commercial aircraft. Also, the growing safety regulations and standards for aircraft seating are propelling the growth of the segment.

Interior Panel Structures: The segment held the second-largest share of the global market in 2018. Aerospace foams help in dampening the sound vibration and also in thermal electrical insulation of the interior panel structures.

Floor Coverings: Foams help to meet mechanical performance requirements and the stringent aviation regulatory standards in floor coverings

Flight Deck Pads: Flight deck pads are largely used for general aviation and military aircraft applications.

Electrical Components: Foams play the role of preventing the electrical components from entangling and keeping in place, while at the same time protecting the electrical components from thunderstorms, and lightning shocks.

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By End-Use

Commercial Aircraft: The segment held the largest share of the global aerospace foam market share in 2022 and is expected to register the highest CAGR during the forecast period. An increasing number of air passengers in the developing countries of Asia-Pacific due to rising per-capita income and the surge in low-cost carriers in the regions are propelling the growth of the segment and thus boosting the growth of the global commercial aircraft market.

General Aviation: The segment held the second-largest share of the global aerospace foams market overview in 2018. It includes two-seat training aircraft, utility helicopters, intercontinental business jets. According to the General Aviation Manufacturers Association (GAMA), there were more than 446,000 general aviation aircraft across the globe as of 2018, of which over 211,000 aircraft were in the US and over 136,000 aircraft in Europe. The fuselage, bulkheads, and wings of the general aircraft are made with light-weight composites, manufactured using polymer foams.

Military Aircraft: The rise in military expenditure is likely to drive the demand for aerospace foams for military aircraft manufacturing in the coming years. According to the Stockholm International Peace Research Institute (SIPRI), the military expenditure across the globe rose to USD 1.822 trillion in 2018, representing an increase of 2.6% from 2017. The five major countries in 2018 were the US, China, Saudi Arabia, India, and France, which together accounted for around 60% of global military spending. As per the report published by SIPRI, the military expenditure in the US was USD 649 billion in 2018 and is projected to reach USD 799 billion by 2022. China’s military expenditure in 2018 was USD 250 billion, and India’s military spending was USD 66.5 billion in2018.

By Region

North America: The expanding aerospace industry in the US due to increasing passenger traffic and the presence of major aircraft manufacturers are driving the demand for aerospace foam in the region.

Europe: The presence of leading airline manufacturers such as Airbus, AltiGator, ArianeGroup, and United Aircraft Corporation, among others in the region are contributing to the demand for aerospace foams.

Asia-Pacific: The most opportunistic market, owing to rising per-capita income and emergence of low-cost aircraft.

Middle East Africa: The favorable geographic location is boosting the growth of the aerospace industry, which in turn is expected to drive the demand for aerospace foams.

Latin America: The region is expected to register positive growth in the coming years owing to the growing aerospace industry.

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