Demand for Aerospace Floor Panel Market To Soar from Use Industries and Push Revenues in Market : Fact.MR

Fact.MR's report projects the global aerospace floor panel market to register steady CAGR through 2022. The global aerospace floor panel market will account for revenues worth US$ 354.7 Mn in 2017; by 2022-end this number is further estimated to reach nearly US$ 460 Mn. Increasing disposable income of middle-class population in developing economies, has resulted into higher preference for air travels. This has further driven demand for aircrafts, and thereby its components such as floor panels. In addition, increasing collaborations between OEMs and tech companies, coupled with rising research and development activities by OEMs are further expected to drive growth of the market. However, substructure corrosion of floor panels exposed to moisture, for example - doorways, galleys, and lavatories, remains a key challenge for floor panel manufacturers. Manufacturers are therefore focusing on using flame retardant tapes, which offer an excellent and durable moisture barrier, providing a long service life.

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Global Aerospace Floor Panel Market Segments

By Aircraft Type, Global Aerospace Floor Panel Market is segmented as:
Narrow-Body Aircraft
Wide-Body Aircraft
Very Large Aircraft
General Aviation

By Core Material, Global Aerospace Floor Panel Market is segmented as:
Nomex Honeycomb
Aluminum Honeycomb

By Sales Channel, Global Aerospace Floor Panel Market is segmented as:
OEM
Aftermarket

By Region, Global Aerospace Floor Panel Market is segmented as:
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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Competitive Landscape: Top Companies in Aerospace Floor Panel Market

The global aerospace floor panel market is moderately fragmented. The big company's presence in the market with vigorous distribution channel across the different regions and large customer base. The key players accounts for nearly 30% to 40% of the market share, whereas other small and medium-sized companies holding 50% to 60% in 2022.

Similarly, the leading players have adopted numerous strategies such as product development, strategic partnership, merger & acquisition, expansion, product launch etc. to increase the business. Majority of companies have geographical expansion as key strategy to have global reach.

Fact.MR has provided detailed information about price points of top manufacturers of aerospace floor panel positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

On 7th October 2019, The Gill Corporation has launched GillVANA sandwich panels, the first chipset, to reduce noise and vibration. This will help the company to deal with competition owing to its proprietary technology
On 2nd November 2021, TRIUMPH GROUP, Inc. has signed a contract (long-term) with Boeing to manufacture composite cockpit assemblies and air distribution system composite ducting

7 key Projections from Fact.MR's Report on Global Aerospace Floor Panel Market

Narrow-body aircraft are estimated to remain preferred in the global aerospace floor panel market. However, sales of floor panels in wide-body aircraft will register fastest expansion through 2022. Demand for floor panels in very large aircrafts will remain comparatively low during the forecast period.

By core material, sales of nomex honeycomb and aluminum honeycomb floor panels in aircrafts will collectively account for revenues worth US$ 459.6 Mn by 2022-end, the former being more lucrative than the latter.

OEM will remain the largest sales channel for aerospace floor panels, with sales estimated to witness an impressive expansion through 2022. Sales of aerospace floor panels in Aftermarket will remain sluggish throughout the forecast period.

North America is estimated to remain dominant in the global aerospace floor panel market, with sales poised to reach nearly US$ 170 Mn by 2022-end.

Sales of aerospace floor panels in Asia Pacific excluding Japan (APEJ) will register highest CAGR through 2022.

Europe will remain the second largest market for aerospace floor panels during the forecast period.

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