Aerospace Floor Panel Market Report
Aircraft Floor Panel Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027 See less
Aircraft Floor Panel Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027
Aircraft Floor Panel Market is Segmented by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft, and Business Jets), by Core Material Type (Nomex Honeycomb, Aluminium Honeycomb, and Others), by Sales Channel Type (BFE and SFE), by End-User Type (OE and Aftermarket), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Aircraft Floor Panel Market is Segmented by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft, and Business Jets), by Core Material Type (Nomex Honeycomb, Aluminium Honeycomb, and Others), by Sales Channel Type ...
Floor panel varies depending on the type of aircraft and is a crucial factor in improving passenger safety and comfort. A honeycomb structure is made of a honeycomb-like core material layered between thin sheets. The aircraft floor panel should possess qualities including toughness, rigidity, and longevity. The market of the aircraft floor panel is presented with a wealth of opportunities with a healthy future growth rate. The key factors driving the market's expansion are the rising production rates of commercial and regional aircraft (B737 max, B787, A320neo, A350XWB, and A220); upcoming commercial and regional aircraft (COMAC C919, B777x, etc.); the demand for lightweight aircraft flooring; advancements in the flooring technologies; and an expanding aircraft fleet.
The market for aircraft floor panels witnessed a severe decline of more than -30% in 2020, because of lockdown and supply chain disruption caused by the outbreak of COVID 19. The year 2021 was projected to be a promising year by some; however, airlines that had intended to replace their floor panels in 2021 were forced to delay or cancel plans due to the financial crisis. This, combined with a production issue in B787 found during shimming process, caused the market for aircraft floor panels to decline by more than -15% in 2021.
An expected recovery in the aircraft demand to support recovering air passenger traffic, new upcoming aircraft programs, and growing aircraft fleet size collectively turn the headwinds into the tailwinds. Overall, the aircraft floor panel market is estimated to grow at an impressive CAGR of 16.3% during the forecast period to reach a value of US$ 673 Million in 2027.
Based on the aircraft type, the market is bifurcated into narrow-body aircraft, wide-body aircraft, regional aircraft, and business jets. Wide-body aircraft is anticipated to be the dominant as well as the fastest-growing segment of the aircraft floor panel market in the foreseen future. Wide-body aircraft witnessed an enormous decline amid the pandemic, greater than all other aircraft types. Furthermore, the grounding of B787 dented the recovery that was earlier expected from the market participants. However, the long-term business outlook still seems favorable to the market participants as both, Boeing and Airbus have announced to gradually ramp up their production rate of B787 and A350XWB, respectively, in the coming years. Concurrently, the introduction of fuel-efficient variants (B777x and A330neo) is likely to stir market growth in the years to come.
Based on the core material type, the market is segmented as nomex honeycomb, aluminum honeycomb, and others. Nomex honeycomb material type is expected to be the dominant as well as fastest-growing core material type in the market during the forecast period. It is used extensively in all types of aircraft including narrow-body and wide-body ones. Nomex honeycomb has many benefits, including lightweight, outstanding rigidity, strength, resistance to corrosion, and fire. Also, it is thermally stable and has excellent dielectric characteristics.
Based on the end-user type, the market is segmented as OE and aftermarket. Out of these, OE is expected to dominate the market for aircraft floor panels over the forecast period. The increasing production rate of existing aircraft programs to support the rebounding demand and new aircraft programs (COMAC C919, Boeing’s B777x, Airbus’s A321 XLR, and Irkut’s MC-21) are the main factors contributing to its supremacy. It is anticipated that both, OE and aftermarket, segments will experience significant growth rates in the coming years.
In terms of regions, North America is expected to remain the largest market for aircraft floor panels over the forecast period. With numerous small- to large-sized OEMs in each aircraft type, this region has been a pioneer in the aerospace industry. The majority of the participants have production and assembly facilities in North America. Additionally, all of the major floor panel producers for the industry are present in the area to assist OEMs in the creation of advanced products that satisfy airline criteria.
The aircraft floor panel market is highly consolidated with a handful of players capturing a large chunk of the market. Product developments, the formation of long-term contracts, and high R&D investments are one of the indispensable focused areas of the leading companies. The following are some of the key players in the aircraft floor panel market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft floor panel market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The aircraft floor panel market is segmented into the following categories:
Aircraft Floor Panel Market, by Aircraft Type
Aircraft Floor Panel Market, by Core Material Type
Aircraft Floor Panel Market, by Sales Channel Type
Aircraft Floor Panel Market, by End-User Type
Aircraft Floor Panel Market, by Region
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com
The aircraft floor panel market is estimated to grow at a striking CAGR of 16.3% over the next five years to reach a value of US$ 673 Million in 2027. The key factors driving the market's expansion are the rising production rates of commercial and regional aircraft, upcoming commercial aircraft, higher demand for lightweight flooring, advancements in flooring technologies, and an expanding aircraft fleet.
Avcorp Industries Inc., AVIC Cabin Systems, Boeing EnCore, Collins Aerospace, EFW GmbH, Euro-Composites, Safran S.A. The Gill Corporation and Triumph Group (arranged alphabetically) are some of the key players in the market.
North America is estimated to be dominant in the aircraft floor panel market in the coming years, driven by the presence of numerous small- to large-sized OEMs in the region. The majority of the participants have production and assembly facilities in the region only.
Asia-Pacific is estimated to grow at the fastest rate in the coming five years, driven by a large aircraft fleet paired with rising air passenger traffic necessitating the demand for new aircraft.
Nomex honeycomb is likely to maintain its dominance in the market over the next five years. It is used extensively in all types of aircraft including narrow-body and wide-body ones.
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