"We Envision Growth Strategies Most Suited
to Your Business"

Aerospace Floor Panels Market Size to USD 107.27 Million by 2027; Increasing Number of Product Innovations Will Provide Impetus to Market Growth

July 03, 2020 | Chemicals & Materials

The global aerospace floor panels market size is projected to reach USD 107.27 million by the end of 2027. The presence of several globally renowned companies will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled “Aerospace Floor Panels Market Size, Share & Industry Analysis, By Core Material (Nomex Honeycomb, Aluminum Honeycomb, and Others), By Aircraft (Commercial, Military, Business & General Aviation and Others) and Regional Forecast, 2020-2027,” the market was worth USD 75.37 million in 2019 and will exhibit a CAGR of 5.45% during the forecast period.


Aerospace floor panels are lightweight materials that are normally made up of aluminium and other composites. The properties of these products such as high strength and resistance make it suitable for applications across the aerospace industry. Technological advancements have played a huge part in the growth of the overall market in recent years. The increasing use of composites in aerospace structures has opened up a wide applications scope; a factor that will create several growth opportunities for the companies operating in the market. The increasing demand for these type of floor panels is consequential to the favourable properties of the product as well as the growing investments in product R&D. The strength retention of these products is another factor that attracts builders and vendors across the world. The rising building and construction activities will create several growth opportunities for the aerospace floor panels market in the coming years.


Market to Witness Slight Decline in 2020


The coronavirus outbreak has had a massive global impact on several industries and businesses. Due to the rapid spread of the virus, governments across several countries have imposed lockdowns and advised people to follow social distancing practises. These activities have ultimately affected manufacturing units in the aerospace floor panels industry. As a result, the market is likely to witness a slight decline in the year 2020.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/aerospace-floor-panels-market-102300


Triumph Group Announces New Contract with Boeing


The report highlights a few of the major company mergers and collaborations of recent ties and discusses the impact of these industry developments on the growth of the market. Accounting to the increasing applications of these floor panels in the aerospace and defense industry, Army forces across several countries as well as companies in this market are collaborating with other experienced vendors for customized requirements. In September 2017, Triumph Group announced that it has received a contract from Boeing for the development of new airplanes. The company announced that it will be supplying ducting and floor panels for Boeing’s 737, 767, 777X, and 787 airplanes. The company will be delivering these composites over the next decade. Triumph’s latest contract with Boeing will not just help the company generate short-term revenues, but will have a direct impact on the growth of the overall market in the coming years.


Product Innovations Pertaining to Extremely Light-weight Materials will Aid Growth


The construction of any aerospace body aims at the use of minimum weight maximum strength. As aerospace floor panels cater to these requirements, they are widely used across the aerospace industry. Technological advancements have played a huge role in the development of extremely light-weight as well as highly durable and high-strength products in recent years. The increasing investments in technological intervention will have a direct impact on the growth of the overall market in the coming years.


Mergers and Acquisitions Remain a Popular Preference Among Major Companies


Accounting to the rising demand for aerospace floor panels across the world, manufacturers across the aerospace industry are looking to collaborate with experienced companies. Large scale distributors and companies are turning towards SMEs for customized and specific requirements. This situation is often beneficial for both the companies. Moreover, the presence of several large scale companies has encouraged companies to form mergers and also acquire other SMEs, with the aim of establishing a stronghold in the market.


List of companies profiled in the report:



  • Rockwell Collins (UTC){USA}

  • EFW{Germany}

  • The Gill Corporation{USA}

  • Avcorp Industries{Canada}

  • Triumph Group{USA}

  • The NORDAM Group LLC{USA}

  • ENCORE GROUP{USA}

  • EURO COMPOSITES{USA}

  • AIM ALTITUDE{UK}

  •  Advanced Custom Manufacturing{USA}

  • Others


Industry Developments:



  • December 2018: UTC announced that it has completed the acquisition of Rockwell Collins. The deal is deemed as one of the largest acquisitions in the history of the aerospace manufacturing industry.


The global market is segmented on the basis of:









































  ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million), Volume (Thousand Square Meters)



Segmentation



By Core Material



  • Nomex honeycomb

  • Aluminum Honeycomb

  • Other



By Aircraft



  • Commercial

  • Military

  • Business and General Aviation

  • Others



 



By Geography



  • North America (U.S., and Canada)

  • Europe (Germany, France, UK, Italy, Spain, Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East & Africa (Saudi Arabia, UAE, Turkey, and Rest of Middle East & Africa)


Aerospace Floor Panels Market
  • PDF
  • 2019
  • 2016-2018
  • 200

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Our Clients

Kpmg
Pfizer
Jubilant
Emerson
Deloitee
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X