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Aircraft Floor Panel Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Aircraft Type, Material Type, Sales Channel, and End User

·3-min read

The aircraft floor panel market is expected to grow from US$ 646. 68 million in 2019 to US$ 1,038. 63 million by 2027; it is estimated to grow at a CAGR of 8. 2%from 2020 to 2027. Aviation authorities, aircraft manufacturers, aircraft component manufacturers, MRO service providers, and military forces are seeking components made from lightweight materials to extend the flying range of aircraft and increase fuel efficiency.

New York, Jan. 26, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Aircraft Floor Panel Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Aircraft Type, Material Type, Sales Channel, and End User" -
Therefore, floor panel manufacturers are designing and developing the lightest possible floor panels for modern aircraft fleet.
Players operating in the aircraft floor panel market are leveraging the light weight nature of Nomex and aluminum honeycomb structures.Both materials are widely used in the construction of aircraft floor panels.

However, Nomex, being 20% lighter than aluminum, is a more preferred material by aircraft manufacturers.Moreover, , the Nomex honeycomb structures have a longer lifespan than aluminum honeycomb.

Owing to the longer life spans, and lightweight nature, leading to extended flying range, Nomex honeycomb structures eliminate the need for frequent MRO services. Thus, increasing research activities to develop more such materials and escalating adoption of the same are drive the growth of the aircraft floor panel market.
Based on aircraft type,the narrow body aircraft segment led the aircraft floor panel market in 2019.The narrow body aircraft signify to single-aisle planes with ~90–175 seats. The market for narrow body aircraft is much larger than wide body aircraft.It enables to reach the breakeven number of aircraft in a shorter time. The progress is driven bysurging deliveries and orders of narrow body aircraft, such as A320 and B737, from various low-cost carriers (LCC) around the globe. Moreover, the increasing international and domestic air travelers is propelling the demand for narrow body aircraft. Several manufacturers across all regions are focusing on creating a wide-ranging next-generation air transport system having flexibility and cost-effectiveness features; which is expected to support the narrow body aircraft growth. Boeing is projected to deliver 14,810 narrow body aircraft by 2029 and Airbus is likely to deliver 29,720 aircraft of this type by 2038. The growing tourism industry across various countries in Europe and APAC, increasing accessibility of low-cost airlines, and rising government expenditure on the growth of air transport also drive the growth of the aircraft floor panel market.
The overall aircraft floor panel market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the aircraft floor panel market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the aircraft floor panel market. Aeropair Ltd., Aim Aviation Ltd., Avcorp Industries Inc., Collins Aerospace, Ecoearth Solutions, Euro-Composites S.A., Safran S.A., Singapore Technologies Engineering Ltd., The Gill Corporation, and The Nordam Group LLC are among the players operating in the market.
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