North America Aircraft Floor Panel Market Share and Forecast by 2027

The North America aircraft floor panel market is expected to grow from US$ 237.47 million in 2019 to US$ 361.73 million by 2027; it is estimated to grow at a CAGR of 7.6% from 2020 to 2027.

The US, Canada, and Mexico are major economies in North America. Emphasizing aircraft orders and delivery volumes across North America region is expected to escalate the North America aircraft floor panel market. The North America aviation industry is undergoing expansion at a rapid pace, recording significant production volumes and deliveries of aircraft (commercial and military) fleet. Specifically, the commercial aviation industry has witnessed tremendous growth in the past few years with the emergence of new low cost carriers (LCCs) and fleet expansion strategies adopted by the full service carriers (FSCs). Further, commercial aviation is foreseen to surge in the coming years owing to the mounting number of air travel passengers and aircraft procurement. This surge in aircraft production is boosting the demand for aircraft floor panel market across North America region. Airbus and Boeing are the two aircraft manufacturing giants across North America with significantly greater volumes of orders and delivery statistics. These two aircraft original equipment manufacturers (OEMs) are continuously encountering orders for various aircraft models from different civil airlines. Owing to the continuously rising production volumes to bridge the gap between demand and supply of aircraft, the OEMs are increasingly procuring large volumes of aircraft floor panels. In the current scenario, the demand for both wide body and narrow body aircraft fleet is high. So the surge in the aircraft production is expected to increase the demand of aircraft floor panels in coming years, which will drive the North America aircraft floor panel market.

Further, in case of COVID-19, North America is highly affected specially the US. Since the US has a larger density of aircraft manufacturers and component manufacturers, the outbreak has severely affected the production of each. The lower number of manufacturing staff and temporary suspension of production facilities have resulted in lesser production quantity. Boeing, the aviation giant in the region, has witnessed a significant fall in orders and production, which is one of the key restraining factors for the aircraft floor panels market. For instance, Boeing delivered only 98 aircraft by the end of September. Apart from Boeing, several other aircraft OEMs such as Bombardier, Textron, and Gulfstream, among others, also experienced tremors of COVID – 19 on their orders and production lines. From the supply side, the region has higher numbers of aircraft floor panel manufacturers. The restricted workforce, disruption in the supply chain, and limited volumes of orders have sternly shaken the region's aircraft floor panel market players. On the other hand, the Canadian and Mexican aircraft floor panel market is also experiencing slower than usual growth due to the COVID – 19 outbreaks.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America aircraft floor panel market. The North America aircraft floor panel market is expected to grow at a good CAGR during the forecast period.

North America Aircraft Floor Panel Market Segmentation   

North America Aircraft Floor Panel Market – By Aircraft Type

• Wide Body Aircrafts
• Narrow Body Aircrafts
• General Aviation

North America Aircraft Floor Panel Market – By Material Type

• Aluminum Honeycomb
• Nomex Honeycomb

North America Aircraft Floor Panel Market – By Sales Channel

• OEM
• Aftermarket

North America Aircraft Floor Panel Market – By End User

• Commercial
• Military

North America Aircraft Floor Panel Market, by Country

• US
• Canada
• Mexico

North America Aircraft Floor Panel Market - Companies Mentioned

• Aeropair Ltd
• Aim Altitude UK Ltd.
• Avcorp Industries Inc.
• Collins Aerospace, a Raytheon Technologies Corporation company
• Euro Composite S.A.
• Safran S.A
• Singapore Technologies Engineering Ltd
• The Gill Corporation
• The Nordam Group LLC                  

North America Aircraft Floor Panel Report Scope