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Aerospace Floor Panel Market Trends & Growth 2024 | Rockwell Collins, Euro Composites, Triumph Group, EnCore Group, Zodiac Aerospace, Nordam Group, Gill Corporation, Lockheed Martin, Falcon, Boeing, Airbus and Bombardier.
Aerospace Floor Panel Market
Reduction in gross airplane weight to improve fuel efficiency will drive the aerospace floor panel market size from 2018 to 2024. Properties including high stiffness and strength-weight ratio to meet structural strength will advocate its usage in cabin interiors. Companies are developing chemical resistant and fire-retardant materials to ensure passenger safety in case of any in-flight fire. Innovation regarding improving structural strength, rigidity and weight reduction to replace solid metals will boost the market growth.
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Commercial aircraft segment will contribute around 84% of overall revenue with significant growth in overall aerospace industry till 2024. Rising annual spending and disposable income has amplified air traffic and increased international and domestic fleets. Surge in commercial aircraft production particularly in developed regions including North America and Europe will push the market in next seven years.
Regional jet segment will register over 5.5% growth with increase in regional jets to fulfill aircraft gap between turbo prop and single aisle long range airplanes thereby accelerating product demand. Rising business aircrafts demand in Middle East and Africa owing to regional economic expansion and growing tourism industry will enhance the market demand.
Nomex honeycomb will witness 2.8% CAGR till 2024 owing to increase in commercial aircraft demand. Properties including high fire resistance, stiffness, lightweight, thermal stability, excellent dielectric properties and superior strength will boost its utilization during forecast period. Availability in various cell size, strength and thickness will enhance aerospace floor panel market share.
By Aircraft
• Commercial Aircraft
• Regional Jet
• Business Jet
• Helicopter
By Raw Material
• Nomex Honeycomb
• Aluminum Honeycomb
• Others
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OEM will register 2% growth with requirement of floor panel installation to confirm passenger safety and reduce aircraft weight. Industry players are undergoing strategic coalition with major aircraft manufacturers to increase market share. For instance, Rockwell Collins and Comlux have signed five-year agreement to provide retrofit facilities for business jets. Continuous rise in regional and commercial aircraft fleets will further support industry growth over projected timeline. Aftermarket segment will witness strong growth with increasing refurbishment activities in commercial and regional aircrafts.
Aircraft manufacturers are constantly focusing on reducing the overall structural weight offering enhanced strength. Aircraft floor panels are preinstalled units in cabin and are layered above base structure. Flooring units contributes for major share in airplane weight and use of lightweight structure reduces gross weight. The units support cabin columns and walls to facilitate cabin interior flooring. Rising component cost particularly in emerging nations may restrict aerospace floor panels industry growth during forecast period.
North America aerospace floor panels holds the major share with presence of aircraft manufacturers such as Falcon, Lockheed Martin, Boeing, Bombardier and Airbus.
Europe will register substantial growth with increasing air traffic. In 2018, Europe recorded around 5% passenger traffic increase in comparison with 2017 further supporting the product demand. Middle East and Africa will witness growth owing to progress with prevailing travel and tourism industry.
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Major aerospace floor panels market players include Rockwell Collins, Advanced Custom Manufacturing, EFW, Euro Composites, Avcorp Corporation, Aim Altitude, Triumph Group, EnCore Group, Zodiac Aerospace, Nordam Group and Gill Corporation.
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