Aircraft Floor Panel Market Growth Analysis | 2024-2034

Market Insights

“The aircraft floor panel market size was US$ 452 million in 2023 and is likely to grow at a decent CAGR of 3.5 % in the long run to reach US$ 727 million in 2034.”

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Market Dynamics

Introduction

Floor panels vary depending on the type of aircraft and are crucial factors 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 for aircraft floor panels is presented with a wealth of opportunities with a healthy future growth rate. The key factors driving the market's expansion are the projected rise in production rates of key aircraft programs (B737 max, B787, A320neo, A350XWB, and A220); upcoming aircraft program (B777x); the demand for lightweight aircraft flooring; advancements in the flooring technologies; and an expanding aircraft fleet size.

Several leading aircraft floor panel manufacturers are focusing on sustainable materials to reduce aircraft's overall carbon footprint. Zodiac Aerospace (part of Safran) and Collins Aerospace have introduced new lightweight, recyclable floor panel materials made from composites and recycled thermoplastics. These new floor panels are designed to be lighter, contributing to overall fuel efficiency. They can be fully recycled at the end of the aircraft's lifecycle, aligning with the aviation industry's push for sustainability.

Recent Market JVs and Acquisitions:

• In 2023, Gill Corporation entered a contract with Sonaca to supply honeycomb components for several Airbus programs. Under this partnership, Gill Corporation will deliver advanced honeycomb core materials critical to maintaining the lightweight structure and structural integrity of Airbus aircraft. This agreement further strengthens Gill Corporation’s position as a key supplier in the aerospace industry, reinforcing its ability to meet the increasing demands of Airbus’s aircraft production.
• In 2022, AVIC Cabin Systems acquired AIM Altitude's cabin programs, boosting its aircraft interior solutions portfolio. This acquisition enables AVIC Cabin Systems to broaden its capabilities in designing and manufacturing cabin components. By integrating AIM Altitude's expertise and technologies, AVIC strengthens its position in the aerospace industry.

Segment Analysis

By Aircraft Type

“Narrow-body aircraft are expected to remain dominant whereas wide-body aircraft are the fastest-growing aircraft type in the market during the forecast period.”

• Based on the aircraft type, the market is bifurcated into narrow-body aircraft, wide-body aircraft, regional aircraft, and business jets.
• Narrow-body aircraft dominate the aircraft floor panels market due to their high production volume for short to medium-haul routes. The segment's growth is driven by the demand for lightweight, durable materials that improve fuel efficiency and reduce costs. These aircraft require high-performance floor panels made from advanced, lightweight composite materials, which enhance fuel efficiency and reduce operational costs
• 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 expected from the market participants earlier. However, the long-term business outlook still seems favorable to the market participants as both Boeing and Airbus have announced that they will ramp up their production rates of B787 and A350XWB, respectively, in the coming years.

By Core Material Type

“Nomex honeycomb is anticipated to be the largest core material type of the aircraft floor panel market and is expected to witness the fastest growth in the coming years.”

• The market is segmented into Nomex honeycomb, Aluminum honeycomb, and other core material types.
•  Nomex honeycomb floor panels are extensively used in all types of aircraft, including narrow-body and wide-body ones.
• Nomex honeycomb offers several benefits, such as being lightweight, outstanding rigidity, strength, and resistance to corrosion and fire. Also, it is thermally stable and has excellent dielectric characteristics.

  By End-User Type

“OE is anticipated to be a larger demand generator of the aircraft floor panel market and is expected to witness faster growth in the coming years.”

• The market is segmented as OE and aftermarket.
• The plan to increase the production rates of existing aircraft programs to support the rebounding demand and new aircraft programs (COMAC C919 and Boeing’s B777x) are the main factors contributing to its supremacy. It is anticipated that both the OE and aftermarket segments are likely to experience significant growth rates in the coming years.

Regional Analysis

“North America is projected to retain its supremacy during the forecast period, whereas Asia-Pacific is expected to experience the fastest growth.”

• The market is segmented as North America, Europe, Asia-Pacific, and the rest of the world.

• North America is expected to remain the largest market for aircraft floor panels over the forecast period. With the presence of numerous small- to large-sized OEMs in this region.
• This region has been a pioneer in the aerospace industry. Most of the participants have production and assembly facilities in North America. Additionally, all the industry's central floor panel producers are present in the area to assist OEMs in creating advanced products that satisfy airline criteria.

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Key Players

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 among the indispensable areas of focus of leading companies.  The following are some of the key players in the aircraft floor panel market:

• EFW GmbH
• The Gill Corporation
• Triumph Group, Inc.
• Boeing Encore Interiors LLC
• AVIC Cabin Systems Limited

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

• 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 2024 to 2034. The report segments and studies the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating 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 market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The aircraft floor panel market is segmented into the following categories:

Aircraft Floor Panel Market, by Aircraft Type

• Narrow-body aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Wide-body aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Business Jets (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Aircraft Floor Panel Market by Core Material Type

• Nomex Honeycomb (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Aluminum Honeycomb (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Other Core Material Types (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Aircraft Floor Panel Market by Sales Channel Type

• BFE (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• SFE (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Aircraft Floor Panel Market by End-User Type

• OE (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Aircraft Floor Panel Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances.

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