Aerospace Floor Panel Market

Aerospace Floor Panel Market Analysis by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, General Aviation), by Core Material (Nomex Honeycomb, Aluminum Honeycomb), by Sales Channel, by Region - Global Forecast 2022-2032

Analysis of Aerospace Floor Panel market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Global Aerospace Floor Panel Market Outlook

The global aerospace floor panel market is assessed at USD 440 Million in 2022 and is forecast to reach USD 758 Million by 2032, growing at a CAGR of 5.6% from 2022 to 2032.

Report Attributes

Details

Base Year Value (2021A)

USD 420 Million

Estimated Year Value (2022E)

USD 440 Million

Projected Year Value (2032F)

USD 758 Million

Global Growth Rate (2022-2032)

CAGR 5.6%

North America Market Share in 2021

~36%

North America Growth Rate (2022-2032)

CAGR 5.8%

Collective Value Share (USA, China,  Germany, Japan and India) 2021: Top 5 Countries

~56%

Top 5 Companies Market Share in 2021

~31%

Key Companies Profiled

  • The Gill Corporation
  • TRIUMPH GROUP, INC
  • The NORDAM Group, Inc.
  • Rockwell Collins, Inc. 
  • Avcorp Industries Inc.
  • EnCore Group
  • EURO-COMPOSITES S.A.
  • Zodiac Aerospace ECE
  • Automated Dynamics Corporation
  • SL Corporation 
  • Valeo S.A. 
  • Montaplast GmbH
  • Other Key Players

The global aerospace floor panel market accounted for around 5% share of global floor panel market in 2021. It is likely to grow at the CAGR of 4.9% during the forecast period of 2022 & 2032.

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2017-2021 Global Aerospace Floor Panel Market Outlook in Comparison to 2022-2032 Growth Forecast

From the historical analysis, the aerospace floor panel market witnessed a growth of 3.4% CAGR throughout 2017-2021. The market for aerospace floor panel has presented an absolute dollar opportunity of nearly USD 65 Million in the last 5 years. It is assessed to offer an absolute dollar opportunity of nearly USD 151 Million and USD 219 Million in mid-term (2022 & 2027) and long-term (2027 & 2032) respectively.

The European aerospace floor panel market holds nearly 27.8% market share in the global aerospace floor panel industry. It is projected to establish a growth of 4.9% CAGR and lose 25 BPS. Further, the German aerospace floor panel market is one of the maximum shareholders in the European aerospace floor panel market with nearly 1/3rd market share trailed by the UK aerospace floor panel market.

The United Kingdom aerospace floor panel market holds nearly 30% market share and is expected to gain 111 BPS. Furthermore, it's projected to display a growth of 5.8% CAGR and offer notable growth opportunities.

Further, the South Asia and Oceania aerospace floor panel market has experienced 3.8% CAGR growth in the last few years. It accounts for nearly 10% market share in the Asia Pacific aerospace floor panel market. It is projected to establish 5.1% CAGR growth and gain 122 BPS over the forecast period.

Based on aircraft type segment analysis, the narrow-body aircraft is acquiring a significant market share which is generating nearly half of the total aerospace floor panel market revenue. It is likely to lose nearly 30 BPS and is projected to show growth of 5.6% over the valuation period.

Fact.MR projects the automotive windshield market is expected to witness exhibiting growth at 5.6% CAGR during 2022 and 2032 in comparison to a CAGR of 3.4% with which it grew from 2017 and 2021.

Importance of Floor Panel Driving Market Demand in Aerospace Floor Panel Market

An aircraft’s bodyweight plays the most crucial role in factoring in its fuel efficiency. In the global aviation industry, manufacturers of aerospace floor panels are aware that these flooring units will significantly contribute to bulking up the airplane’s gross weight. For the construction of all aircraft segments, from narrow-body to wide-body, the demand for lightweight floor panels is prevalent.

However, materials used in the production of aerospace floor panels are expected to provide utmost rigidity without increasing their weight. The global market for aerospace floor panels is expected to witness the emergence of innovative materials that can facilitate these intricate requirements, and ultimately, improve the mileage of commercial aircraft.

Aerospace floor panels are fully assembled components of floorboards used in aircraft construction for flooring. Aerospace floor panels, which run from the cockpit to the tail end of the fuselage, reduce the necessity of finished flooring and subflooring all through the body of an aircraft and also serve as support for the internal walls, beams, and columns.

The above factors and usage are making floor panels most crucial in aircraft owing to which the demand for aerospace floor panel is continuously rising. As growing demand for aircraft will boost the sales of aerospace floor panel in coming years which may offer tremendous growth opportunities throughout the forecast period.

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What are the Other Factors Influencing the Sales of Aerospace Floor Panel?

The continued production of regional and commercial aircraft, the increasing aircraft fleet size, the increasing demand for lightweight aircraft flooring, as well as the increasing inventions in flooring advanced technologies are among the factors that will drive growth in the global aerospace floor panel market.

Aircraft manufacturers are working on employing composite materials and enhancing engine performance for interiors to make their fleets more economical. These are the leading factors which are driving the demand for aerospace floor panel and likely to continue during the assessment years.

Major Challenges hampering the Sales of Aerospace Floor Panel

Component costs have historically stayed low since OEMs have been able to capitalize on the developed world's considerable fragmentation and vigorous rivalry among vendors. However, it is no longer an issue, as the situation has changed considerably in the last ten years, and automakers may only obtain price reductions of up to 20% of component costs.

Even emerging markets are expected to see price increases, with suppliers scrambling to acquire the best available agreements. All of these variables will have an immediate influence on the aerospace floor panel industry.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Region-wise Insights

What is the North America Aerospace Floor Panel Business Scenario?

North American aerospace floor panel market is the largest market shareholder in the global aerospace floor panel market. It has generated tremendous growth opportunities in the last half-decade due to increased investment in the aviation industry in technology and R&D, robust trade relations of regional countries with other countries and consumer spending.

Though, the aerospace floor panel market in North America is likely to show significant growth owing to increasing spending on technologies used in aerospace floor panel. It is expected to gain nearly 20 BPS and offers a USD 114 Million absolute $ opportunity by the end of the forecast period.

Which Region Expected to offer More Demand for Aerospace Floor Panel?

East Asia aerospace floor panel market is likely to continue its dominance in the Asia Pacific region during the forecast years with the highest aircraft sales which will drive the demand for aerospace floor panel. Owing to this, it is projected to acquire nearly 1/6th of the global aerospace floor panel market’s revenues share.

Furthermore, the Chinese aerospace floor panel market is the largest market shareholder with more than 62% in the East Asian aerospace floor panel market in 2022. It is anticipated to offer an absolute dollar opportunity of nearly USD 36 Million throughout 2022-2032.

Aerospace floor panel market forecast by Fact.MR

Category-wise Insights

Which Aircraft Type of Aerospace Floor Panel is the Largest Contributor of this Market?

To deliver an in-depth analysis into the pattern of demand for the aerospace floor panel, the market is split based on aircraft type. It includes narrow-body aircraft, wide-body aircraft, very large aircraft, general aviation etc. wide-body aircraft type is has acquired nearly 1/4th of market share.

Further, narrow-body aircraft floor panel may continue with their dominance in the global market and are likely to be preferred in aircraft. In terms of revenue, it is anticipated to outreach the valuation of around USD 360 Million by the end of 2032. Besides, the segment is projected to grow at a CAGR of 5.6% and gain 151 BPS through 2022 & 2032.

Sales of wide-body aircraft floor panel are assessed to register the highest CAGR, to be the second-largest accepted product in the global aerospace floor panel market by 2032-end.

In addition, sales of very large aircraft, and general aviation floor panel are likely to unveil similar CAGRs throughout 2022 & 2032, however, revenues from sales of very large aircraft will remain larger than general aviation.

Which Core Material Type is Likely to Offer Worthwhile Growth in Aerospace Floor Panel Market?

In terms of revenue, nomex honeycomb is anticipated to continue its dominance in the global aerospace floor panel market. However, demand for nomex honeycomb is estimated to register the wildest expansion through 2032. Aluminum honeycomb is anticipated to remain the second-largest lucrative core material type adopted for aerospace floor panel over the forecast period.

Further, the aluminum honeycomb is projected to show growth of 5.4% and gain 20 BPS in the aerospace floor panel market amid the assessment period. This is likely to provide an absolute dollar opportunity of around USD 136 Million to the market of aerospace floor panel over the assessment period.

Competitive Landscape: Top Companies in Aerospace Floor Panel Market

The global aerospace floor panel market is moderately fragmented. The big company’s presence in the market with vigorous distribution channel across the different regions and large customer base. The key players accounts for nearly 30% to 40% of the market share, whereas other small and medium-sized companies holding 50% to 60% in 2022.

Similarly, the leading players have adopted numerous strategies such as product development, strategic partnership, merger & acquisition, expansion, product launch etc. to increase the business. Majority of companies have geographical expansion as key strategy to have global reach.

Fact.MR has provided detailed information about price points of top manufacturers of aerospace floor panel positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  1. On 7th October 2019, The Gill Corporation has launched GillVANA sandwich panels, the first chipset, to reduce noise and vibration. This will help the company to deal with competition owing to its proprietary technology
  2. On 2nd November 2021, TRIUMPH GROUP, Inc. has signed a contract (long-term) with Boeing to manufacture composite cockpit assemblies and air distribution system composite ducting

Global Aerospace Floor Panel Market Segments

  • By Aircraft Type, Global Aerospace Floor Panel Market is segmented as:

    • Narrow-Body Aircraft
    • Wide-Body Aircraft
    • Very Large Aircraft
    • General Aviation
  • By Core Material, Global Aerospace Floor Panel Market is segmented as:

    • Nomex Honeycomb
    • Aluminum Honeycomb
  • By Sales Channel, Global Aerospace Floor Panel Market is segmented as:

    • OEM
    • Aftermarket
  • By Region, Global Aerospace Floor Panel Market is segmented as:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

What is the global Aerospace Floor Panel Market scenario?

The market valuation for global aerospace floor panel market is estimated to be worth over USD 440 Million in 2022.

How far is the global demand expected to reach over the forecasted period?

The market valuation for aerospace floor panel is forecast to surpass USD 758 Million by 2032 end.

What was the last 5-year CAGR for the demand in the Aerospace Floor Panel Market?

During 2017-2021, global aerospace floor panel market grew at 3.4% CAGR.

Who are the prominent players in the global Aerospace Floor Panel Market?

Some of the prominent players in aerospace floor panel market are The Gill Corporation, TRIUMPH GROUP, INC., The NORDAM Group, Inc., Rockwell Collins, Inc., Avcorp Industries Inc. etc.

Which is the most leading region in the Aerospace Floor Panel Market?

North America is projected to lead the global aerospace floor panel market by accounting around ~36% of global market share in 2022.

Which Aircraft type contributes maximum share in Aerospace Floor Panel Sales?

Wide-body aircraft under the aircraft type segment contributed around 1/4th of market share in global sales of aerospace floor panel.

Aerospace Floor Panel Market

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