Aerospace Floor Panel Market research report categorizes the global market by Aircraft Type (Narrow-Body Aircraft Aerospace Floor Panel, Wide-Body Aircraft Aerospace Floor Panel, Very Large Aircraft Aerospace Floor Panel, General Aviation Aerospace Floor Panel), By Core Material (Nomex Honeycomb, Aluminum Honeycomb), By Sales Channel (OEM, Aftermarket), & By Region.
The automotive industry is one of the fastest-growing industries, significantly contributing to the gross domestic product of several countries. Unfortunately, the COVID-19 pandemic posed serious challenges for which the industry was under-prepared. Halted production and disruptions in the supply chain resulted in a huge setback in the automotive industry.
However, with the acceleration in the vaccination process across several countries like the U.K., the U.S., Germany, India, and China, manufacturers are making conscious efforts to bring the automotive industry back on track, with innovations and expansion strategies.
A growing number of aircraft deliverables and increasing requirements of lightweight structures in aircraft have been driving the studied market’s growth. The growing development of advanced materials for aircraft interiors is expected to offer various opportunities for the growth of the market studied, over forecast period.
- The commercial aviation segment dominated the market and is expected to grow during the forecast period.
- North America dominated the market across the world, with the largest consumption coming from countries, such as the United States and Canada.
Ongoing production of commercial and regional aircraft, growing fleet size of aircraft, surging requirements for lightweight aircraft flooring, and increasing innovations in flooring technology are some factors expected to drive growth of the global aerospace floor panel market. Aircraft OEMs are focusing on making their fleets more fuel efficient, by improving engine performance and using composite materials for interiors. Recent research by Fact.MR provides an in-depth market outlook of global aerospace floor panel Industry for the forecast period 2017 to 2022.
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Fact.MR’s report projects the global Sales of the aerospace floor panel to register steady CAGR through 2022. The global sales of aerospace floor panel will account for revenues worth US$ 354.7 Mn in 2017; by 2022-end this number is further estimated to reach nearly US$ 460 Mn. Increasing disposable income of middle-class population in developing economies, has resulted into higher preference for air travels. This has further driven demand for aircrafts, and thereby its components such as floor panels. In addition, increasing collaborations between OEMs and tech companies, coupled with rising research and development activities by OEMs are further expected to drive growth of the market. However, substructure corrosion of floor panels exposed to moisture, for example – doorways, galleys, and lavatories, remains a key challenge for floor panel manufacturers. Manufacturers are therefore focusing on using flame retardant tapes, which offer an excellent and durable moisture barrier, providing a long service life.
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7 key Projections from Fact.MR’s Report on Global Aerospace Floor Panel Market
- Narrow-body aircraft are estimated to remain preferred in the global aerospace floor panel market. However, sales of floor panels in wide-body aircraft will register fastest expansion through 2022. Demand for floor panels in very large aircrafts will remain comparatively low during the forecast period.
- By core material, sales of nomex honeycomb and aluminum honeycomb floor panels in aircrafts will collectively account for revenues worth US$ 459.6 Mn by 2022-end, the former being more lucrative than the latter.
- OEM will remain the largest sales channel for aerospace floor panels, with sales estimated to witness an impressive expansion through 2022. Sales of aerospace floor panels in Aftermarket will remain sluggish throughout the forecast period.
- North America is estimated to remain dominant in the global aerospace floor panel market, with sales poised to reach nearly US$ 170 Mn by 2022-end.
- Sales of aerospace floor panels in Asia Pacific excluding Japan (APEJ) will register highest CAGR through 2022.
- Europe will remain the second largest market for aerospace floor panels during the forecast period.
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Key market players identified in Fact.MR’s report includeTriumph Group, Inc.
Rockwell Collins, Inc
Avcorp Industries, Inc.
Zodiac Aerospace ECE
The Gill Corporation
The NORDAM Group, Inc.
EnCore Group
Euro-Composites S.A.
Automated Dynamics Corporation.
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Additional Questions: Global Aerospace Floor Panel Market
Q.1. What are the key market drivers, restrains, and future opportunities affecting the future market dynamics?
Q.2. What are the forward market strategies adopted by key players in the aerospace floor panel landscape to solidify their market positions?
Q.3. Out of OEM and Aftermarket, which segment would register the significant revenue generator and why?
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