Aircraft Floor Panel Market is likely to be US$ 478.0 million opportunity in 2023
● by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, and Others)
● by Core Material Type (Nomex Honeycomb, Aluminium Honeycomb, and Others)
● by End-User Type (OE and Aftermarket)
● and by Region (North America, Europe, Asia-Pacific, and RoW)
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Increasing production rates of key commercial and regional aircraft
The aircraft floor panel market is projected to reach an estimated value of US$ 478.0 million in 2023. Healthy future growth rate offers a plethora of opportunities to the entire ecosystem of the market. Increasing production rates of key commercial and regional aircraft, such as B737, B787, A320, A350XWB, and C Series; upcoming commercial and regional aircraft, such as Comac C919 and Mitsubishi MRJ; requirement of lightweight aircraft flooring, an advancement in the flooring technology; and increasing aircraft fleet size are the major growth drivers of the market.
Narrow-body aircraft to remain the largest segment of the market
The aircraft floor panel market is segmented based on the aircraft type: Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, and General Aviation. The narrow-body aircraft is expected to remain the largest segment of the market during the forecast period of 2018 to 2023. Wide-body aircraft is likely to witness the highest growth during the same period, driven by an increasing demand for wide-body aircraft, such B787 and A350XWB in the developing economies, such as China and India.
There is also a healthy demand for wide-body aircraft in the Middle East region.
Major aircraft types including narrow-body and wide-body aircraft
The aircraft floor panel market is also segmented based on the core material type as Nomex Honeycomb, Aluminum Honeycomb, and Others. The nomex honeycomb has been the growing choice for a wide range of usage in the aircraft industry including floor panel. All the major aircraft types including narrow-body and wide-body aircraft, are heavily relying on this unique material. Nomex honeycomb offers enormous advantages over competing materials, such as lightweight, exceptional stiffness and strength, good corrosion resistance, good fire resistance, good thermal stability, and excellent dielectric properties.
OE is likely to remain the largest end-user type
The aircraft floor panel market is further segmented based on the end-user type as OE Sales and Aftermarket Sales. OE is likely to remain the largest end-user type during the forecast period, driven by an increasing demand for commercial and regional aircraft across regions. Both OE and aftermarket sales segments are likely to witness healthy growth rates over the next five years.
North America to remain the largest market
The aircraft floor panel market is segmented based on the region as North America, Europe, Asia-Pacific, and Rest of the World. North America is projected to remain the largest aircraft floor panel market during the forecast period. This region has been the pioneer in the aerospace & defense industry and is the manufacturing capital with the presence of small- to large-sized OEMs in each aircraft category. Most of the players have manufacturing and assembly plants in North America. Additionally, all the major floor panel manufacturers for the aircraft industry are in the region to support OEMs for the development of advanced products meeting airline requirements.
Asia-Pacific is expected to witness the highest growth during the same period. The highest commercial aircraft fleet size; the gradual shift of manufacturing/assembly plants of OEMs; and upcoming indigenous commercial and regional aircraft, such as Comac C919, ARJ21, and MRJ, fuelled by increasing passenger traffic will continue to drive the Asia-Pacific’s market in the coming years.
Top market players
Some of the major companies in the aircraft floor panel market are The Gill Corporation, Triumph Group, B/E Aerospace (now Rockwell Collins), Hexcel Corporation, EnCore Aerospace Group, and Zodiac Aerospace. New product development, adoption of advanced lightweight materials, and collaboration with OEMs are some of the key strategies adopted by companies to gain a competitive edge over other competitors.
Why Stratview Research
Our 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 on 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:
● Aircraft Floor Panel Market overview, industry life cycle analysis, supply chain analysis
● Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
● Market trend (2012 – 2017) and forecast analysis (2018-2023) of each segment.
● Competitors’ market share, product portfolio and new launches.
● Growth opportunities in each segment.
● Emerging trends which will decide the future course of development.
● Strategic growth opportunities for the existing and new players
● Key success factors.
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