Aerospace Foam Market Size, Share, Growth Analysis, By Type(Polyurethane Foam, Polyethylene Foam), By Application(Flight Deck Pads, Carbon Walls & Ceilings), By End Use(General Aviation, Commercial Aviation) - Industry Forecast 2024-2031

Aerospace Foam Market size was valued at USD 5.4 billion in 2021 and is poised to grow from USD 5.75 billion in 2022 to USD 9.52 billion by 2030, at a CAGR of 6.5% during the forecast period (2023-2030).

Fuel price increases have driven plane developers to reduce aircraft weight and carry more payload in a single flight. As a result, these businesses have used aerospace foam in a variety of aircraft applications, including flight deck pads, carbon walls and ceilings, aircraft seats, and aircraft flooring. Furthermore, rising need for aircraft in all end-uses, including air travel, business aviation, military planes, and rotary aircraft, has fueled demand in recent years.

In consequence, the use of aerospace foam in aircraft manufacturing has increased and is likely to increase further throughout the forecast period. The United States generated the most demand for aerospace foam in 2021, and this trend is expected to continue throughout the forecast period. The high product demand across the country is mostly driven by the aircraft industry's robust growth as a result of increasing interstate travel over the last decade as a result of greater disposable income. Because of the rising use of aerospace foam across the external fuel tanks, the United States military services have been a prominent industry for driving demand for aerospace foam throughout military aircraft.

For instance, in August 2022, aircraft producer Boeing effectively delivered four MH-139A test helicopters to the United States Air Force (USAF) to assist four key air force commands, as well as protection against intercontinental ballistic missiles and other operating agencies. Due to the global outbreak of the COVID-19 pandemic in 2020, the global airline industry experienced a major jolt as a result of multiple flight cancellations, airport shutdowns, and manufacturing units coming to a halt in order to contain the virus's spread, negatively impacting the industry's growth. However, due to a rising pace of recovery and accessibility of vaccines globally, airline operations were restarted, considerably reshaping product demand.

US Aerospace Foam Market is poised to grow at a sustainable CAGR for the next forecast year.