Grand View Research has reported it projects the global aerospace insulation market size is expected to reach USD 12.28 billion by 2027, expanding at a CAGR of 4.2% from 2020 to 2027, the company said.
Surge in aircraft deliveries and growth in MRO activities owing to surging passenger and freight movement across the globe are expected to drive the market over the forecast period.
Key players in the market are focused on increasing their market share through new product developments, rather than mergers & acquisitions. Companies in the market are focusing on expanding their product portfolio by developing cost-effective insulation products with enhanced properties.
Grand View Research, a US-based market research and consulting company, provides syndicated as well as customized research reports and consulting services.