Increasing call for lightweight structures boosts the Global Aircraft Floor Panel Market

Market Overview:
The global aircraft floor panel market is expected to post a CAGR of more than 4% during the forecast period.
A surge in aircraft deliverables and the growing call for lightweight structures in aircraft are supporting growth in the floor panel market. The surge in the development of advanced aircraft interior materials is expected to provide various growth opportunities for the studied market in the future. The commercial aviation segment has dominated the market and is likely to grow over the outlook period. North America has dominated the world market, with the largest consumption from countries like the United States and Canada.

Recent Developments:
Collins Aerospace recently developed its AeroBASE™, a multipurpose honeycomb floor panel for reducing weight and improving longevity. AeroBASE panels offer superior durability compared to standard OEM floor panels.

Market Drivers and Restraints:
The demand for floor panels is directly proportional to the manufacture of aircraft. The growing demand for narrow-body aircraft, mainly in developing countries, is the main driver of the global aircraft floor panel market. The intense concentration of market players on the development of flame retardant, low smoke, lightweight and thermally stable aircraft floor panels will create opportunities in the aircraft floor panels market during the foreseen period. However, the use of composite material such as aluminum honeycomb requires high maintenance, resulting in high maintenance cost, limiting the growth of the aircraft floor panel market.

Impact of COVID-19 on Aircraft Floor Panel Market:
The worldwide pandemic brought about by the novel coronavirus infection comes at a time when the economy is recovering from recission. However, the COVID-19 pandemic is likely to have very small impact on the aircraft panel market, as there is increasing tensions around the world, which results in augmented defense spending.

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Report is segmented as:
Material
• Aluminum Honeycomb
• Nomex Honeycomb
• Others

In view of the applications and features, various base materials such as aluminum, Nomex, and stainless steel are used in aerospace floor panel design. High performance composites and similar materials are used in advanced honeycomb panels in aerospace floor panel manufacturing.

End User
• OEM
• Aftermarket

Aircraft Type
• Very Large Body Aircraft
• Wide Body Aircraft
• Narrow Body Aircraft
• General Aviation
• Regional Aircraft
• Military Aircraft

Aerospace floor panels, due to their increased durability, reduced weight, high strength and superior durability, are widely used by the general aviation segment. These products exhibit resistance to bending, stiffness and shear; provide excellent performance in both hot and humid conditions; and eliminates the need for more frequent floor replacements in the cabin and cargo area and is therefore used in aircraft floor applications.

Geographical segmentation:
Based on geography, the global aircraft floor panel market is divided into regions of Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, North America has a significant share of the global market due to the presence of large fleets of aircraft such as AIRBUS, Boeing and Lockheed Martin, etc. The Asia-Pacific and Europe are also key regions in this market.

Key market players:
Key market players are:
• 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
• The NORDAM Group LLC

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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