The Market of Aircraft Decorative Laminates to grow beyond US$ 344.1 million by 2024

The new report of Stratview Research analyses the Aircraft Decorative Laminates market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

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Aircraft Decorative Laminates Market Insights

The evolution of decorative laminates in the aviation industry started when the aircraft cabin fire safety standard was implemented. This led to a significant research in the areas related to finding cost-effective solutions that ensure the materials used in cabin interiors comply with new standards. The constant focus of airlines and aircraft OEMs to increase the profit margins along with the implementation of stringent fire, smoke, and toxicity (FST) standard has paved the path to the development of decorative laminates. The deployment of decorative laminates in cabin interiors not only minimizes the probability of replacing the big-ticket interior parts but also eliminates the paint-preparation activities on the parts where paints are applied.

The market for decorative laminates in the global aircraft industry is likely to grow at a rate above the industry growth rate over the next five years to reach an estimated value of US$ 344.1 million in 2024. Several factors bolstering the demand for decorative laminates in the industry are increasing production rates of the next-generation aircraft, increasing focus of airlines on the modernization of interiors of their existing aircraft fleet to provide uniform feel, high focus of the aircraft industry stakeholders for the development of lightweight and smart cabin interior solutions, and rising aircraft fleet.

Change in aircraft cabin interiors to increase the number of seats

Concurrently, the airline industry has been witnessing increased investment towards the modification of aircraft interiors, especially for the development of a compact, lightweight and foldable seats, and increased demand for premium economy seats. The change in aircraft cabin interiors to increase the number of seats in an aircraft in order to enhance airlines’ profit along with advancement in decorative laminate products to address emerging technologies such as Wi-Fi and onboard connectivity, are also positively impacting the market growth.

Focus on comfort and safety of passengers

The focus of the industry regarding the comfort and safety of passengers has unanimously emerged in the past few decades. Premium airlines, as well as low-cost carriers, are trying to maximize the comfort and safety of passengers and crew members by enhancing aircraft interiors. This is also generating gargantuan pressure on tier players as well as raw material suppliers including decorative laminate manufacturers. All the leading aircraft decorative laminate manufacturers are putting their efforts to develop high-performance decorative laminate products, which will give more aesthetic and pleasing looks along with adequate passenger safety.

Narrow- and wide-body aircraft are likely to remain the growth engines of the market

The market is segmented based on the aircraft type as Narrow-Body Aircraft,
Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, and General Aviation. Narrow- and wide-body aircraft are likely to remain the growth engines of the market during the forecast period. Increasing production rates of the key programs such as B737, B787, A320, and A350XWB; introduction of variants of the best-selling programs (A320neo, B737 Max, B777x, and A330neo); market entry of new aircraft (C919 and MC-21); increasing demand for high quality and lightweight components; and rising aircraft fleet size are the major growth drivers of the market in these segments during the forecast period.

Interior panel is expected to remain the dominant

Based on the application type, the market is segmented into Interior Panels, Stowage Bins, Seats, Galleys, and Others. Interior panel is expected to remain the dominant application segment of the market during the forecast period, owing to its large surface area. Other applications include bulkheads/partition walls, lavatories, trolleys, cabin facings, closets, and passenger service units.

North America is expected to remain the largest market

In terms of region, North America is expected to remain the largest market for aircraft decorative laminates during the forecast period. The USA is the growth engine of the region’s market with the presence of all major aircraft OEMs, tier players, raw material suppliers, and decorative laminate suppliers. Asia-Pacific is likely to witness the highest growth in the same period, driven by a host of factors including an increasing demand for commercial aircraft to support rising passenger traffic, opening of assembly plants of Boeing and Airbus in China, upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ), and rising aircraft fleet size.

Top Market Leaders & Supply chain of this market

The supply chain of this market comprises raw material suppliers, decorative laminate manufacturers, aircraft cabin interior part fabricators, distributors, aircraft OEMs, airlines, aircraft leasing companies, and MRO companies.

The key decorative laminate manufacturers are ISOVOLTA AG, Schneller LLC, DUNMORE Corporation, E. I. du Pont de Nemours and Company, and the Boeing Company. The development of high-performance aircraft decorative laminates, expansion in untapped and growing markets, and the execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

Comprehensive Market Coverage

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This release was published on openPR.