In terms of revenue, the global aircraft floor panel market was valued at US$ 646.68 million in 2019 and is projected to reach US$ 1,038.63 million by 2027; it is expected to grow at a CAGR of 8.2% during the forecast period from 2020 to 2027.
The aircraft floor panel market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. Factors such as availability of technological capabilities, high disposable individual incomes, higher standards of living, and rapid technological advancements in the arena of aerospace engineering, presence of leading aircraft manufacturers, as well as presence of some of the well-established floor solution providers among other factors have contributed towards the significant consolidation of the market share in North America and Europe regions. However, from a growth perspective, the Europe region anticipated to gain significant traction and expected to witness the most attractive growth rate during the forecast period. During the forecast period from 2020 to 2027, the growth outlook of aircraft floor solutions in all the major geographic regions estimated to be quite positive.
Regional Aircraft Floor Panel Market Analysis (%)
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights–Aircraft Floor Panel Market
Increasing Emphasis on Use of Lightweight Materials
The floor panels are critical components of any aircraft, the demand for lightweight floor panels is on the rise. This factor compels floor panel manufacturers to design and develop the lightest possible floor panels for modern aircraft fleet.
The aircraft floor panel market players are leveraging the low weight nature of Nomex and Aluminum honeycomb structures. Both the materials are widely used in the construction of aircraft floor panels; however, Nomex being 20% lighter than Aluminum, the inclination toward Nomex honeycomb floor panels is higher among the aircraft manufacturers, which would drive its adoption during the forecast period. In addition to being lightweight in nature, the Nomex honeycomb structures have a longer lifespan than its counterpart Aluminum. The longer lifespan facilitates the aircraft operators to use the structure over a longer period without the need for frequent MRO service adoption. Thus, increasing research activities related to such lightweight materials and escalating adoption of the same are the key factors driving the aircraft floor panel market.
COVID-19 Impact
The recent outbreak of the COVID – 19 has significantly affected the world and is continuing to shatter several countries. Until the outbreak of COVID – 19, the aerospace industry was experiencing substantial growth in terms of production and services, despite huge backlogs from the aircraft manufacturers; the global aviation industry witnessed a significant rise in the number of passenger counts, an increase in aircraft procurement (both commercial and military), as well as rise growth in MRO activities.
Unfortunately, the COVID – 19 outbreaks have decimated the demand for aircraft globally, which reflected significantly lower volumes of orders among the airframe manufacturers, which resulted in a lower number of airframe production. The decline in production volumes adversely affected the businesses of various component manufacturers. Thus, this year's scenario has turned upside down as the aircraft manufacturer refrained from procuring various components during the first two quarters of 2020. Thus, the aircraft floor panels market players' businesses have been severely affected by destabilization in aircraft production.
Aircraft Type Segment Insights
Based on aircraft type, the hardware segment dominated lead the global aircraft floor panel market in 2019. The narrow body aircraft signify to single-aisle planes with ~90-175 seats. As compared to wide body aircraft, the market for narrow body aircraft are much larger and enables to reach the break-even number of aircraft in a shorter time. This progress is primarily due to the surging deliveries and orders of narrow body aircraft, such as A320 and B737, from various low-cost carriers (LCC) around the globe.
Material Type Segment Insights
Based on material type, the nomex honeycomb segment dominated lead the global aircraft floor panel market in 2019. Nomex honeycomb floor materials is one of the most common materials used in aircraft structures with good electrical insulating properties. It possesses outstanding high impact strength and performs excellently on the food cart roller test in the aircraft.
Sales Channel Segment Insights
Based on sales channel, the OEM segment dominated the global aircraft floor panel market in 2019. The rise in manufacturing and production of the aircraft is directly impacting the aircraft floor panel globally over the forecast period.
End User Segment Insights
Based on end user, the commercial segment dominated the global aircraft floor panel market in 2019. Globally, commercial airline forecasts remain strong which will directly make a positive impact on aircraft floor panel market and is likely to offer new opportunities for aircraft panel market.
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Aircraft Floor Panel Market: Strategic Insights
Market Size Value in US$ 646.68 Million in 2019 Market Size Value by US$ 1,038.63 Million by 2027 Growth rate CAGR of 8.2% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Aircraft Floor Panel Market: Strategic Insights
| Market Size Value in | US$ 646.68 Million in 2019 |
| Market Size Value by | US$ 1,038.63 Million by 2027 |
| Growth rate | CAGR of 8.2% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
- In 2019, Collins Aerospace Systems, a Raytheon Technologies Corporation company opened a new 140,000 square foot manufacturing facility in Jacksonville, US.
- In 2019, Euro Composite S.A. was selected by Dornier Seawings GmbH to designs aircraft floor panel for the Dornier Seastar prototype 1003.
- In 2019, Safran SA collaborated with Zhejiang XiZi Aircraft Component Company to enhance Safran SA relation with OEM through asset &skill training, and to increase its penetration in Chinese market.
The global aircraft floor panel market has been segmented as follows:
Aircraft Floor Panel Market – By Product Type
- Wide Body Aircrafts
- Narrow Body Aircrafts
- General Aviation
Aircraft Floor Panel Market – By Material Type
- Aluminum Honeycomb
- Nomex Honeycomb
Aircraft Floor Panel Market – By Sales Channel
- OEM
- Aftermarket
Aircraft Floor Panel Market – By End User
- Commercial
- Military
Aircraft Floor Panel Market- By Region
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America (SAM)
- Brazil
- Rest of SAM
Aircraft Floor Panel Market – Companies Profiles
- Aeropair Ltd.
- Aim Aviation Ltd.
- Avcorp Industries Inc.
- Collins Aerospace
- Ecoearth Solutions
- Euro-Composites S.A.
- Safran S.A.
- Singapore Technologies Engineering Ltd.
- The Gill Corporation
- The Nordam Group LLC
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Aircraft Type , Material Type , Sales Channel , and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The List of Companies - Aircraft Floor Panel Market
- Aeropair Ltd
- Aim Altitude UK Ltd.
- Avcorp Industries Inc.
- Collins Aerospace, a Raytheon Technologies Corporation company
- Eco Earth solutions
- Euro Composite S.A.
- Safran S.A
- Singapore Technologies Engineering Ltd
- The Gill Corporation
- The Nordam Group LLC
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
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- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
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