Aircraft Floor Panel Market is Forecast to Reach US$ 0.69 Billion in 2028, Says Stratview Research

The Aircraft Floor Panel market is likely to rise at a CAGR of 11.7% during 2023-2028, to reach US$ 0.69 billion in 2028, states Stratview Research.

DETROIT, Nov. 16, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global Aircraft Floor Panel Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment and analysis, and competitive landscape.

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Report Highlights

Segment Insights on the Aircraft Floor Panel Market

The global Aircraft Floor Panel market is segmented based on aircraft type, core material type, sales channel type, end-user type, and region.

Based on aircraft type - The market is bifurcated into narrow-body aircraft, wide-body aircraft, regional aircraft, and business jets. Wide-body aircraft is anticipated to be the dominant as well as the fastest-growing segment of the aircraft floor panel market in the foreseen future. Wide-body aircraft witnessed an enormous decline amid the pandemic, greater than all other aircraft types. Furthermore, the grounding of B787 dented the recovery that was earlier expected from the market participants. However, the long-term business outlook still seems favorable to the market participants as both, Boeing and Airbus have announced to ramp up their production rate of B787 and A350XWB, respectively, in the coming years. Concurrently, the introduction of a fuel-efficient variant of the existing aircraft program (B777x) is likely to stir market growth in the years to come.

Based on core material type - The market is segmented as nomex honeycomb, aluminum honeycomb, and others. Nomex honeycomb material type is expected to be the dominant as well as fastest-growing core material type in the market during the forecast period. It is used extensively in all types of aircraft including narrow-body and wide-body ones. Nomex honeycomb has many benefits, including lightweight, outstanding rigidity, strength, and resistance to corrosion, and fire. Also, it is thermally stable and has excellent dielectric characteristics.

Based on end-user type - The market is segmented as OE and aftermarket. Out of these, OE is expected to dominate the market for aircraft floor panels over the forecast period. The plan to increase the production rates of existing aircraft programs to support the rebounding demand and new aircraft programs (COMAC C919 and Boeing's B777x) are the main factors contributing to its supremacy. It is anticipated that both, the OE and aftermarket, segments will experience significant growth rates in the coming years.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that North America is expected to remain the largest market for aircraft floor panels over the forecast period. This growth is majorly attributed to the following –

• With the presence of numerous small- to large-sized OEMs in this region.
• This region has been a pioneer in the aerospace industry.
• The majority of the participants have production and assembly facilities in North America.
• Additionally, all of the major floor panel producers for the industry are present in the area to assist OEMs in the creation of advanced products that satisfy airline criteria.

Aircraft Floor Panel Market Drivers

Some of the key reasons that are propelling the growth of the market include-

• Rise in production rates of key aircraft programs (B737 max, B787, A320neo, A350XWB, and A220).
• Upcoming aircraft programs (COMAC C919, B777x, etc.).
• The demand for lightweight aircraft flooring.
• Advancements in the flooring technologies.
• An expanding aircraft fleet size.

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Top 5 Companies in the Aircraft Floor Panel Market?

The aircraft floor panel market is highly consolidated with a handful of players capturing a large chunk of the market. Product developments, the formation of long-term contracts, and high R&D investments are one of the indispensable focused areas of the leading companies. The following are some of the key players in the aircraft floor panel market:

• EFW GmbH
• The Gill Corporation
• Triumph Group, Inc.
• Boeing Encore Interiors LLC
• AVIC Cabin Systems Limited

What Deliverables Will You Get in this Report?

Related reports which might be useful:

• Composite Floor Panels Market
• Honeycomb Core Materials Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. The reliability and insightfulness of the reports enable the readers take convincing business decisions.

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SOURCE Stratview Research