Aerospace Floor Panels Market Forecasts to 2028 – Global Analysis By Core Material (Aluminum Honeycomb, Titanium Honeycomb, Nomex Honeycomb and Other Core Materials), Aircraft Type, Application and By Geography
According to Stratistics MRC, the Global Aerospace Floor Panels Market is accounted for $93.2 billion in 2022 and is expected to reach $143.1 billion by 2028 growing at a CAGR of 7.4% during the forecast period. The floor panels of aircraft are made to endure heavy compression loads. Most of the materials used in flooring panels have a honeycomb structure and are composites. Lightweight floor panels are in demand due to the focus on lightweight aircraft, and manufacturers are putting more effort into making them. Moreover, advanced materials and systems are used during the engineering and manufacturing processes to achieve certain attributes like stiffness, high strength, and durability. For the comfort of both passengers and cabin crew, heated floor panels have also been constructed.
According to Airbus Forecast, the demand for small passenger aircraft is expected to be 4,910 units, 695 units for medium passenger aircraft units, and 360 units for large passenger aircraft units.
Market Dynamics
Driver:
Increasing air passenger traffic
The expanding middle class and increases in disposable income have both made significant contributions to the rising demand. The fleet of commercial aeroplanes is constantly expanding to keep up with the escalating demand. As a result, the floor panels in the recently produced aircraft are made of lightweight and high-performing materials. This is the most significant driver of market expansion.
Restraint
Stringent regulations
The significance of strict restrictions on the aerospace sector is supported by the degree of danger associated with the aviation industry as well as the sheer quantity of lives that are at risk. The sector is governed by various strict regional standards. To maintain high quality and safety standards, these laws cover both components and materials utilised in the business. Due of the intense competition and complexity resulting from this, the market's expansion is constrained.
Opportunity
Weight reduction in aircraft
The profitability of airlines is directly impacted by lightweight materials due to their great improvement in fuel efficiency. In order to facilitate weight reduction, floor panels composed of lightweight materials are widely used in the aerospace sector. Also, these materials are not easily ignited, ensuring passenger safety in the event of a fire or other emergency. This factor is expected to drive the market.
Threat
High initial cost
Composite material aeroplane floor panels are expensive to begin with, which can permanently impede market growth. The usage of composite materials like aluminium honeycomb necessitates significant maintenance, which raises the expense of upkeep. The high cost of repair and maintenance for composite-made aeroplane floor panels may be a key factor impeding the market expansion.
Covid-19 Impact
The latest COVID-19 epidemic has had a major impact on the world and is still destabilising various nations. Despite massive backlogs from the aircraft manufacturers, the aerospace industry was experiencing significant growth in terms of production and services prior to the outbreak. The global aviation industry also saw a significant increase in passenger numbers, an increase in aircraft procurement, as well as an increase in activities. As a result, the destabilisation in aircraft production has had a significant impact on the companies of market participants for aviation floor panels.
The nomex honeycomb segment is expected to be the largest during the forecast period
The nomex honeycomb segment is estimated to have a lucrative growth, due to an increase in commercial aircraft demand. The demand will probably increase if other cell sizes, strengths, and thicknesses are available. High fire resistance, rigidity, lightweight, thermal stability, good dielectric characteristics, and superior strength are just a few of the properties that will enhance overall usage throughout the present projected period.
The commercial aviation segment is expected to have the highest CAGR during the forecast period
The commercial aviation segment is anticipated to witness the fastest CAGR growth during the forecast period, due to increasing air passenger traffic. The rise in passenger travel is being backed by an increase in manufacturer deliveries. Moreover, more routes connecting different cities have boosted air passenger travel. This is the major factor propelling the growth of the segment.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing demand for various types of aircraft. The number of travellers travelling by plane is continuously rising in the area. Repairs and other assembling tasks account for the majority of the aerospace floor usage in the area. The expanding importance of floor panels and the growing demand for aeroplanes will drive the region's growth.
Region with highest CAGR
North America is projected to have the highest CAGR over the forecast period, owing to the huge presence of major aircraft fleet. Most of the participants have facilities for manufacture and assembly. Also, all of the industry's key floor panel manufacturers are located nearby to support OEMs in developing cutting-edge products that meet airline requirements. This region has been a pioneer in the aerospace sector, with various small to large-sized OEMs in each aircraft sector.
Key players in the market
Some of the key players profiled in the Aerospace Floor Panels Market include The Gill Corporation, Rockwell Collins, Euro-Composites, Triumph Group, Zodiac Aerospace, Avcorp Corporation, Nordam Group, Encore Group, Advanced Custom Manufacturing, JB International, EFW, Aim Altitude and Comtek Advanced Structures Ltd.
Key Developments
In December 2022, Collins Aerospace opens new engineering and global operations centers in India to accelerate innovations in R&D and manufacturing. As part of a significant investment to expand its manufacturing operations in India, Collins Aerospace, has officially inaugurated its new Global Engineering and Technology Center (GETC) and Collins India Operations Center in Bengaluru.
In September 2022, Triumph Group announced that its Product Support business in Thailand has completed an extension with global aircraft manufacturer Airbus, to continue Triumph's long-standing provision of repair station services for Airbus Proprietary Parts, managed by Satair, an Airbus services company and world leader in the commercial aerospace aftermarket.
Core Materials Covered:
• Aluminum Honeycomb
• Titanium Honeycomb
• Nomex Honeycomb
• Other Core Materials
Aircraft Types Covered:
• Wide body aircraft
• Very Large Aircraft
• Narrow body aircraft
• Other Aircraft Types
Applications Covered:
• Military Aircraft
• Commercial Aviation
• Business Jets
• Other Applications
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
- 1 Executive Summary
- 2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
- 3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
- 4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
- 5 Global Aerospace Floor Panels Market, By Core Material
- 5.1 Introduction
- 5.2 Aluminum Honeycomb
- 5.3 Titanium Honeycomb
- 5.4 Nomex Honeycomb
- 5.5 Other Core Materials
- 6 Global Aerospace Floor Panels Market, By Aircraft Type
- 6.1 Introduction
- 6.2 Wide body aircraft
- 6.3 Very Large Aircraft
- 6.4 Narrow body aircraft
- 6.5 Other Aircraft Types
- 7 Global Aerospace Floor Panels Market, By Application
- 7.1 Introduction
- 7.2 Military Aircraft
- 7.3 Commercial Aviation
- 7.4 Business Jets
- 7.5 Other Applications
- 8 Global Aerospace Floor Panels Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
- 9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
- 10 Company Profiling
- 10.1 The Gill Corporation
- 10.2 Rockwell Collins
- 10.3 Euro-Composites
- 10.4 Triumph Group
- 10.5 Zodiac Aerospace
- 10.6 Avcorp Corporation
- 10.7 Nordam Group
- 10.8 Encore Group
- 10.9 Advanced Custom Manufacturing
- 10.10 JB International
- 10.11 EFW
- 10.12 Aim Altitude
- 10.13 Comtek Advanced Structures Ltd
- List of Tables
- Table 1 Global Aerospace Floor Panels Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
- Table 3 Global Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
- Table 4 Global Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
- Table 5 Global Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
- Table 6 Global Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
- Table 7 Global Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
- Table 8 Global Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
- Table 9 Global Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
- Table 10 Global Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
- Table 11 Global Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
- Table 12 Global Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
- Table 13 Global Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
- Table 14 Global Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
- Table 15 Global Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
- Table 16 Global Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 17 North America Aerospace Floor Panels Market Outlook, By Country (2020-2028) ($MN)
- Table 18 North America Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
- Table 19 North America Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
- Table 20 North America Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
- Table 21 North America Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
- Table 22 North America Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
- Table 23 North America Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
- Table 24 North America Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
- Table 25 North America Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
- Table 26 North America Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
- Table 27 North America Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
- Table 28 North America Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
- Table 29 North America Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
- Table 30 North America Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
- Table 31 North America Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
- Table 32 North America Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 33 Europe Aerospace Floor Panels Market Outlook, By Country (2020-2028) ($MN)
- Table 34 Europe Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
- Table 35 Europe Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
- Table 36 Europe Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
- Table 37 Europe Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
- Table 38 Europe Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
- Table 39 Europe Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
- Table 40 Europe Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
- Table 41 Europe Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
- Table 42 Europe Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
- Table 43 Europe Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
- Table 44 Europe Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
- Table 45 Europe Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
- Table 46 Europe Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
- Table 47 Europe Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
- Table 48 Europe Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 49 Asia Pacific Aerospace Floor Panels Market Outlook, By Country (2020-2028) ($MN)
- Table 50 Asia Pacific Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
- Table 51 Asia Pacific Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
- Table 52 Asia Pacific Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
- Table 53 Asia Pacific Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
- Table 54 Asia Pacific Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
- Table 55 Asia Pacific Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
- Table 56 Asia Pacific Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
- Table 57 Asia Pacific Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
- Table 58 Asia Pacific Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
- Table 59 Asia Pacific Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
- Table 60 Asia Pacific Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
- Table 61 Asia Pacific Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
- Table 62 Asia Pacific Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
- Table 63 Asia Pacific Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
- Table 64 Asia Pacific Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 65 South America Aerospace Floor Panels Market Outlook, By Country (2020-2028) ($MN)
- Table 66 South America Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
- Table 67 South America Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
- Table 68 South America Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
- Table 69 South America Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
- Table 70 South America Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
- Table 71 South America Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
- Table 72 South America Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
- Table 73 South America Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
- Table 74 South America Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
- Table 75 South America Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
- Table 76 South America Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
- Table 77 South America Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
- Table 78 South America Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
- Table 79 South America Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
- Table 80 South America Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 81 Middle East & Africa Aerospace Floor Panels Market Outlook, By Country (2020-2028) ($MN)
- Table 82 Middle East & Africa Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
- Table 83 Middle East & Africa Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
- Table 84 Middle East & Africa Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
- Table 85 Middle East & Africa Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
- Table 86 Middle East & Africa Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
- Table 87 Middle East & Africa Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
- Table 88 Middle East & Africa Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
- Table 89 Middle East & Africa Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
- Table 90 Middle East & Africa Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
- Table 91 Middle East & Africa Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
- Table 92 Middle East & Africa Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
- Table 93 Middle East & Africa Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
- Table 94 Middle East & Africa Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
- Table 95 Middle East & Africa Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
- Table 96 Middle East & Africa Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
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