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. A recent research by Fact.MR provides an in-depth analysis of the global aerospace floor panel market for the forecast period 2017 to 2022.
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Fact.MR’s report projects the global aerospace floor panel market to register steady CAGR through 2022. The global aerospace floor panel market 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.
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.
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- 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.
- Key market players identified in Fact.MR’s report include Triumph Group, Inc., Rockwell Collins, Inc., Avcorp Industries, Inc., Zodiac Aerospace ECE, The Gill Corporation, The NORDAM Group, Inc., EnCore Group, Euro-Composites S.A., and Automated Dynamics Corporation.
Competitive Landscape: Top Companies in Aerospace Floor Panel Market
The global aerospace floor panel market is moderately fragmented. The big company’s presence in the market with vigorous distribution channel across the different regions and large customer base. The key players accounts for nearly 30% to 40% of the market share, whereas other small and medium-sized companies holding 50% to 60% in 2022.
Similarly, the leading players have adopted numerous strategies such as product development, strategic partnership, merger & acquisition, expansion, product launch etc. to increase the business. Majority of companies have geographical expansion as key strategy to have global reach.
Fact.MR has provided detailed information about price points of top manufacturers of aerospace floor panel positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
For instance:
- On 7th October 2019, The Gill Corporation has launched GillVANA sandwich panels, the first chipset, to reduce noise and vibration. This will help the company to deal with competition owing to its proprietary technology
- On 2nd November 2021, TRIUMPH GROUP, Inc. has signed a contract (long-term) with Boeing to manufacture composite cockpit assemblies and air distribution system composite ducting
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Global Aerospace Floor Panel Market Segments
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By Aircraft Type, Global Aerospace Floor Panel Market is segmented as:
- Narrow-Body Aircraft
- Wide-Body Aircraft
- Very Large Aircraft
- General Aviation
-
By Core Material, Global Aerospace Floor Panel Market is segmented as:
- Nomex Honeycomb
- Aluminum Honeycomb
-
By Sales Channel, Global Aerospace Floor Panel Market is segmented as:
- OEM
- Aftermarket
-
By Region, Global Aerospace Floor Panel Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Importance of Floor Panel Driving Market Demand in Aerospace Floor Panel Market
An aircraft’s bodyweight plays the most crucial role in factoring in its fuel efficiency. In the global aviation industry, manufacturers of aerospace floor panels are aware that these flooring units will significantly contribute to bulking up the airplane’s gross weight. For the construction of all aircraft segments, from narrow-body to wide-body, the demand for lightweight floor panels is prevalent.
However, materials used in the production of aerospace floor panels are expected to provide utmost rigidity without increasing their weight. The global market for aerospace floor panels is expected to witness the emergence of innovative materials that can facilitate these intricate requirements, and ultimately, improve the mileage of commercial aircraft.
Aerospace floor panels are fully assembled components of floorboards used in aircraft construction for flooring. Aerospace floor panels, which run from the cockpit to the tail end of the fuselage, reduce the necessity of finished flooring and subflooring all through the body of an aircraft and also serve as support for the internal walls, beams, and columns.
The above factors and usage are making floor panels most crucial in aircraft owing to which the demand for aerospace floor panel is continuously rising. As growing demand for aircraft will boost the sales of aerospace floor panel in coming years which may offer tremendous growth opportunities throughout the forecast period.
What are the Other Factors Influencing the Sales of Aerospace Floor Panel?
The continued production of regional and commercial aircraft, the increasing aircraft fleet size, the increasing demand for lightweight aircraft flooring, as well as the increasing inventions in flooring advanced technologies are among the factors that will drive growth in the global aerospace floor panel market.
Aircraft manufacturers are working on employing composite materials and enhancing engine performance for interiors to make their fleets more economical. These are the leading factors which are driving the demand for aerospace floor panel and likely to continue during the assessment years.
| Report Attributes | Details |
| Base Year Value (2021A) | USD 420 Million |
| Estimated Year Value (2022E) | USD 440 Million |
| Projected Year Value (2032F) | USD 758 Million |
| Global Growth Rate (2022-2032) | CAGR 5.6% |
| North America Market Share in 2021 | ~36% |
| North America Growth Rate (2022-2032) | CAGR 5.8% |
| Collective Value Share (USA, China, Germany, Japan and India) 2021: Top 5 Countries | ~56% |
| Top 5 Companies Market Share in 2021 | ~31% |
| Key Companies Profiled |
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