Light weight, high strength, durability, and non-flammable floor panels are key criteria in the manufacture of aerospace floor panels. Sandwich honeycomb panels replaced conventionally used heavier sheet or stringer or beam support approach for floor panels in the 1940s in the aerospace industry in order to reduce the weight and increase payload and flight distance. These products are used for flooring in aircraft. Based on application and property, various core materials such as aluminum, polypropylene, Nomex, and stainless steel are used in designing aerospace floor panels. High performance composites and similar materials are used in advanced honeycomb panels in the manufacture of aerospace floor panels.
Based on type of core material, the aerospace floor panels market can be segmented into Nomex honeycomb, aluminum honeycomb, and others. In terms of aircraft type, the aerospace floor panels market can be divided into narrow body aircraft, wide body aircraft, very large aircraft, general aviation, defense aircraft, and others. Based on end-user type, the aerospace floor panels market can be bifurcated into OEM and aftermarket.
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With increased military expenditure across major economies such as U.S., China, Western Europe and UAE, is expected to drive the growth of aerospace floor panels market in coming years. And also the robust growth of aerospace industry is observed due to increasing demand for air transportation is having positive impact to drive the aerospace floor panels market. Technological advancements and significant investments in R&D by OEMs for the manufacture of aerospace structural parts are expected to boost the market. However, regulatory framework for these panels is governed by the Toxic Substances Control Act of 1976 (TSCA); the Comprehensive Environmental Response, Compensation, and Liability Act (CECRLA); Workplace Hazardous Materials Information System (WHMIS); and the Resource Conservation and Recovery Act (RCRA). These bodies specify the dangers associated with panels, concerned raw materials to be used in honeycombs, and their general requirements for storage.
In terms of geography, North America holds a large share of the global aerospace floor panels market due to the presence of major aircraft fleet such as AIRBUS, Boeing, and Lockheed Martin etc. Growth of the fleet is expected to directly increase the consumption of aerospace floor panels. Asia Pacific and Europe are also key regions of the market. The aerospace floor panels market in Asia Pacific is anticipated to expand significantly during the forecast period owing to the expansion in the aerospace industry and increase in demand for various types of aircraft types in countries such as India and China. Latin America and Middle East & Africa are estimated to account for relatively small share of the global aerospace floor panels market.
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Key players operating in the global aerospace floor panels market include NORDAM Group, Inc., Rockwell Collins, Inc., Zodiac Aerospace, and Encore Group. Companies can supply aerospace floor panels to OEMs through the direct supply channel or via distributors.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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Final Report will add the Impact of COVID-19 Analysis on Aerospace Floor Panels Industry:The global aerospace floor panels market size is projected to reach USD 107.27 million by the end of 2027.
Source:https://www.fortunebusinessinsights.com/aerospace-floor-panels-market-102300 Aerospace floor panels are widely used in the aerospace industry accounting to their favourable properties such as high strength and resistance to external factors.
Increasing safety and construction standards will bode well for the growth of the overall market in the coming years.
Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth.
This acquisition will not just benefit the company but will have a direct impact on the growth of the aerospace floor panels market in the coming years.North America to Emerge Dominant; Presence of Several Large Scale Manufacturers to Aid GrowthThe report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Read the Detailed Press Release from Fortune Business Insights™:https://www.fortunebusinessinsights.com/press-release/aerospace-floor-panels-market-10067 The market in Europe accounts for the second largest share among all regions.
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, 2020-2027.The global aerospace floor panels market size is projected to reach USD 107.27 million by the end of 2027.
The increasing investment in the research and development of efficient aerospace floor panels will constitute an increase in the overall market size.
The market in Europe accounts for the second-largest share among all regions.
The presence of floor panel giants such as Airbus has benefited the growth of the market.
Moreover, other large scale companies in several countries such as Germany, France, and the UK will contribute to the growth of the overall market in this region.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}OthersIndustry Developments:September 2017: Triumph Group announced that it has extended its contract with Boeing for ducting and floor panels required for Boeing’s 737 (legacy and MAX), 767, 777X and 787 airplanes.
Through this contract, the company will deliver these composite materials over the next decade.About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions.
