Aerospace Floor Panel Market COVID 19 Impact & In-Depth Analysis till 2031 including key players - Triumph Group, Rockwell Collins, Avcorp Industries
Growing demand for permanent autopilot and electrification continues to provide impetus to lightweight construction of aircrafts components.
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The buoyancy in the aerospace floor panel market can also be attributed to increasing focus on reducing overall weight to fulfill the broader goal of improving fuel efficiency.
Moreover, innovations to improve structural strength and rigidity, thereby, replacing solid metals, will significantly influence the growth of aerospace floor panel market.
“Recently, a leading advanced composites manufacturer established a testing lab in Shanghai, China.
The testing lab has been set up in joint collaboration with a a Chinese aerospace parts manufacturer.
The testing lab will offer services in the wake of increasing consumer demands in the commercial aerospace landscape in APAC.
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More such accredited testing labs have been established to conduct R&D in composite materials.”- Lead Analyst, Automotive Industry, Fact.MR
Additionally, to reduce the risk of losing valuable market share and potential contracts, key manufacturers are adopting quickly changing technology in the form RFID tags.
With support from Air Transport Association (ATA) and Federal Aviation Administration (FAA) to use passive RFID tags for aircraft parts, the adoption of RFID will gain momentum in the coming years.
RFID solutions, for manufacturers could mean efficient identification, tracking, and managing critical aircraft components and for operators, it would improve overall maintenance efficiency and performance.
Determining replacement history for essential cabin components such as the aerospace floor panel through RFID is projected to reduce lead time and hazardous waste removal, by removing only what is required.
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Fact.MR’s report on the global aerospace floor panel market anticipates significant growth for aerospace floor panel market for the forecast period 2017-2022.
The report also indicates that since flooring units determine the overall weight of the aircraft, increasing components costs could restrict the market growth to a certain extent considering high fragmentation and intense competition among key players.
Sales of aerospace floor panel is projected to remain the highest in North America owing to the presence of key aircraft manufacturers including Bombardier and Airbus Group, Inc.
However, an in-depth analysis by Fact.MR indicates that India, China, Russia will emerge as significant players in aircraft manufacturing, presenting a fair competition to the today’s incumbent.
In the coming years, the overall aircraft manufacturing landscape is likely to head towards consolidation, with a cost advantage on the side of emerging markets.
The growing investments in their respective aviation sectors by China, Russia, and India are also likely to create significant growth opportunities for aerospace floor panel manufacturers during the assessment period.
The report also suggests significant sales of aerospace floor panel through OEMs compared to aftermarket till 2022.
Strategic partnerships and alliances between manufactures and OEMs will further strengthen the supply chain, in turn, improving sales of aerospace floor panel in the coming years.
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Moreover, sales of aerospace floor panel is expected to remain high considering fleet expansion of commercial and regional airlines, which would further call for increased aftermarket activities including retrofit and refurbishment tasks
According to the report, narrow-body aircrafts continue to account for the highest demand for aerospace floor panels.
However, the status quo in the market is likely to change on account of growing proliferation of wide-body aircrafts.
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Fact.MR’s comprehensive report on aerospace floor panel market delivers critical insights on key companies operating the market along with their winning strategies and key company developments.
A leading name in the aviation components manufacturing, Triumph Group, in 2017, signed an agreement with Boeing to provide them with environmental control systems (ECS) ducting and floor panels.
Strategic partnerships, M&A, and new product innovations are likely to be key forward market strategies adopted by other players in the aerospace floor panel market.
The research study also offers comprehensive analysis and insights on the product strategies employed by other key players in the market including Rockwell Collins, Inc., Avcorp Industries, Inc., and Zodiac Aerospace ECE.
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