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Aerospace Floor Panel Market By Aircraft, Raw Material, Distribution Channel, Industry Analysis Report, Regional Outlook, Forecast, 2024

Author : Ronak Bora | Published Date : 2019-05-17 

Reduction in gross airplane weight to improve fuel efficiency will drive the aerospace floor panel market size from 2018 to 2024. Properties including high stiffness and strength-weight ratio to meet structural strength will advocate its usage in cabin interiors. Companies are developing chemical resistant and fire-retardant materials to ensure passenger safety in case of any in-flight fire.

Continuous growth in air passenger traffic and flight iterations to accommodate passengers has swelled aircraft requirements. As per International Air Transport Association (IATA), annual air passengers in 2017 increased from 4.1 billion to 4.3 billion as compared to 2017. Aircraft manufacturers such as Airbus and Bombardier have enhanced their production capacity to overcome past backlog. In 2017, aircraft production grew by 4% to meet the rising consumer demand. These factors will positively influence aerospace floor panel market share during forecast period.

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The product is assembled during aircraft production and layered on base structure from cockpit to tail end. Flooring units are major part in overall aircraft weight, thus lightweight structures help in reducing overall weight. Factors such as increasing component cost may hinder aerospace floor panel market growth from 2018 to 2024.

Nomex honeycomb will witness 2.8% CAGR till 2024 owing to increase in commercial aircraft demand. Properties including high fire resistance, stiffness, lightweight, thermal stability, excellent dielectric properties and superior strength will boost its utilization during forecast period. Availability in various cell size, strength and thickness will enhance aerospace floor panel market share.

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Aluminum honeycomb will register robust growth with high strength-weight ratio. 90% recyclability of aluminum and non-absorbent property reduces overall product cost and imparts high strength to structural parts that enhances component longevity. Competitive product cost compared to other counterparts will boost aluminum honeycomb demand during projected timeframe. Titanium honeycomb aerospace floor panel market segment is at nascent stage and will grow with corrosion resistance property.

The swift pace of growth being observed in the global aviation sector has proved to be a vital driving force for the overall aerospace floor panels market. Owing to a marked increase in the affordability of air travel, rising disposable incomes, and drastic lifestyle changes, a sizeable portion of the global population now opts for air transportation – a factor that has sky-rocketed the air passenger traffic.

North America aerospace floor panels holds the major share with presence of aircraft manufacturers such as Falcon, Lockheed Martin, Boeing, Bombardier and Airbus. Europe will register substantial growth with increasing air traffic. In 2018, Europe recorded around 5% passenger traffic increase in comparison with 2017 further supporting the product demand.

Major players of aerospace floor panel market include Advanced Custom Manufacturing, Euro Composites, Aim Altitude, EnCore Group, Nordam Group, The Gill Corporation, Zodiac Aerospace, Triumph Group, Avcorp Corporation, EFW, and Rockwell Collins. Industry players are undergoing strategic collaborations with airplane manufacturers to augment their market share.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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