The Market Valuation For Aerospace Floor Panel Is Forecast To Surpass USD 758 Million By 2032 End

Ongoing production of commercial and regional aircraft, growing fleet size of aircraft, surging requirements for lightweight aircraft flooring, and increasing innovations in flooring technology are some factors expected to drive growth of the global aerospace floor panel market. Aircraft OEMs are focusing on making their fleets more fuel efficient, by improving engine performance and using composite materials for interiors. A recent research by Fact.MR provides an in-depth analysis of the global aerospace floor panel market for the forecast period 2017 to 2022.

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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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.
• Key market players identified in Fact.MR’s report include Triumph Group, Inc., Rockwell Collins, Inc., Avcorp Industries, Inc., Zodiac Aerospace ECE, The Gill Corporation, The NORDAM Group, Inc., EnCore Group, Euro-Composites S.A., and Automated Dynamics Corporation.

What are the Other Factors Influencing the Sales of Aerospace Floor Panel?

The continued production of regional and commercial aircraft, the increasing aircraft fleet size, the increasing demand for lightweight aircraft flooring, as well as the increasing inventions in flooring advanced technologies are among the factors that will drive growth in the global aerospace floor panel market.

Aircraft manufacturers are working on employing composite materials and enhancing engine performance for interiors to make their fleets more economical. These are the leading factors which are driving the demand for aerospace floor panel and likely to continue during the assessment years.

Major Challenges hampering the Sales of Aerospace Floor Panel

Component costs have historically stayed low since OEMs have been able to capitalize on the developed world’s considerable fragmentation and vigorous rivalry among vendors. However, it is no longer an issue, as the situation has changed considerably in the last ten years, and automakers may only obtain price reductions of up to 20% of component costs.

Even emerging markets are expected to see price increases, with suppliers scrambling to acquire the best available agreements. All of these variables will have an immediate influence on the aerospace floor panel industry.

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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 Corporationhas 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

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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