Aerospace Floor Panels Market
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
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $93.2 BN |
|
Projected Year Value (2028) |
US $143.1 BN |
|
CAGR (2022 - 2028) |
7.4% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
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
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o 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
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
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
1 Global Aerospace Floor Panels Market Outlook, By Region (2020-2028) ($MN)
2 Global Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
3 Global Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
4 Global Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
5 Global Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
6 Global Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
7 Global Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
8 Global Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
9 Global Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
10 Global Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
11 Global Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
12 Global Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
13 Global Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
14 Global Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
15 Global Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
16 Global Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
17 North America Aerospace Floor Panels Market Outlook, By Country (2020-2028) ($MN)
18 North America Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
19 North America Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
20 North America Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
21 North America Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
22 North America Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
23 North America Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
24 North America Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
25 North America Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
26 North America Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
27 North America Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
28 North America Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
29 North America Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
30 North America Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
31 North America Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
32 North America Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
33 Europe Aerospace Floor Panels Market Outlook, By Country (2020-2028) ($MN)
34 Europe Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
35 Europe Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
36 Europe Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
37 Europe Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
38 Europe Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
39 Europe Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
40 Europe Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
41 Europe Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
42 Europe Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
43 Europe Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
44 Europe Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
45 Europe Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
46 Europe Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
47 Europe Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
48 Europe Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
49 Asia Pacific Aerospace Floor Panels Market Outlook, By Country (2020-2028) ($MN)
50 Asia Pacific Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
51 Asia Pacific Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
52 Asia Pacific Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
53 Asia Pacific Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
54 Asia Pacific Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
55 Asia Pacific Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
56 Asia Pacific Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
57 Asia Pacific Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
58 Asia Pacific Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
59 Asia Pacific Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
60 Asia Pacific Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
61 Asia Pacific Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
62 Asia Pacific Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
63 Asia Pacific Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
64 Asia Pacific Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
65 South America Aerospace Floor Panels Market Outlook, By Country (2020-2028) ($MN)
66 South America Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
67 South America Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
68 South America Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
69 South America Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
70 South America Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
71 South America Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
72 South America Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
73 South America Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
74 South America Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
75 South America Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
76 South America Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
77 South America Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
78 South America Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
79 South America Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
80 South America Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
81 Middle East & Africa Aerospace Floor Panels Market Outlook, By Country (2020-2028) ($MN)
82 Middle East & Africa Aerospace Floor Panels Market Outlook, By Core Material (2020-2028) ($MN)
83 Middle East & Africa Aerospace Floor Panels Market Outlook, By Aluminum Honeycomb (2020-2028) ($MN)
84 Middle East & Africa Aerospace Floor Panels Market Outlook, By Titanium Honeycomb (2020-2028) ($MN)
85 Middle East & Africa Aerospace Floor Panels Market Outlook, By Nomex Honeycomb (2020-2028) ($MN)
86 Middle East & Africa Aerospace Floor Panels Market Outlook, By Other Core Materials (2020-2028) ($MN)
87 Middle East & Africa Aerospace Floor Panels Market Outlook, By Aircraft Type (2020-2028) ($MN)
88 Middle East & Africa Aerospace Floor Panels Market Outlook, By Wide body aircraft (2020-2028) ($MN)
89 Middle East & Africa Aerospace Floor Panels Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
90 Middle East & Africa Aerospace Floor Panels Market Outlook, By Narrow body aircraft (2020-2028) ($MN)
91 Middle East & Africa Aerospace Floor Panels Market Outlook, By Other Aircraft Types (2020-2028) ($MN)
92 Middle East & Africa Aerospace Floor Panels Market Outlook, By Application (2020-2028) ($MN)
93 Middle East & Africa Aerospace Floor Panels Market Outlook, By Military Aircraft (2020-2028) ($MN)
94 Middle East & Africa Aerospace Floor Panels Market Outlook, By Commercial Aviation (2020-2028) ($MN)
95 Middle East & Africa Aerospace Floor Panels Market Outlook, By Business Jets (2020-2028) ($MN)
96 Middle East & Africa Aerospace Floor Panels Market Outlook, By Other Applications (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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