Composite Floor Panels Market to reach US$ 620.6 million during the coming years (2019-2024)

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Composite Floor Panels Market, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Composite Floor Panels Market.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2019-2024.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

Composite Floor Panels Market: Highlights
Floor panel is made by layering a core material between two thin layers that provide strength in tension and are designed to withstand high compression loads. Floor panels are usually sandwich construction, mostly comprising honeycomb or foam as a core material and fiberglass, aluminum, epoxy prepreg, or phenolic prepreg as laminates. Both, laminates and core assembly, are bonded using adhesives and form a sandwich-structured composites construction. Laminates carry the bending load, whereas the core materials carry the shear load in a sandwich panel.

The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• by End-Use Industry Type : Aircraft, Rail and Others
• by Core Material Type : Honeycomb Core, Foam Core and Others
• by End-User Type : OE and Aftermarket
• by Region : North America, Europe, Asia-Pacific, and RoW

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The Growth Prognosis & its Drivers
The global composite floor panels market is projected to grow at a healthy rate over the next five years to reach US$ 620.6 million in 2024. Increasing production rates of key commercial and regional aircraft programs, such as B737, B787, A320, A350XWB, and A220; upcoming commercial and regional aircraft, such as COMAC C919 and Mitsubishi MRJ; increasing demand for lightweight flooring in the aircraft and rail industries; increasing demand for high-speed and metro trains, and rising global aircraft deliveries are the major factors bolstering the growth of the composite floor panels market.

Market Segments
The market is segmented based on the end-use industry type as aircraft, rail, and bus. The aircraft industry is expected to remain the largest and fastest-growing segment of the market during the forecast period.
Based on the core material type, the market is segmented as honeycomb core, foam core, and balsa core. In 2018, Honeycomb core-based composite floor panel dominated the market and is expected to witness the highest growth during the forecast period.
Based on the end-user type, the market is segmented as OE and aftermarket. The OE segment is projected to maintain its dominance over the next five years. Increasing production rates of key aircraft programs, such as B737 and A320 family; market entry of new players, such as COMAC; and upcoming aircraft programs are driving the composite floor panels market.
In terms of regions, North America is expected to remain the largest market for composite floor panels during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, composite floor panel manufacturers, and suppliers.
Asia-Pacific is expected to experience the highest growth in the market during the forecast period. The highest growth of Asia-Pacific is mainly attributable to the increasing rail network; growing bus sales; increasing demand for commercial aircraft to support rising passenger traffic; opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; increasing procurement of military aircraft owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ).

Players
The supply chain of this market comprises raw material suppliers, floor panel manufacturers, tier players, OEMs, airlines, aircraft leasing companies, and MRO companies. The key players in the composite floor panels market are The Gill Corporation, Triumph Group, Inc., Rockwell Collins, Inc. (now UTC Aerospace System), 3A Composites, Encore Group, Elbe Flugzeugwerke GmbH, and Zodiac Aerospace. Development of optimized composite floor panels, regional expansion, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

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This release was published on openPR.