Aerospace Floor Panel Market Report 2024 (Global Edition)

Global Aerospace Floor Panel Market Report 2024 Market Size Split by Type Outlook: (Nomex Honeycomb, Aluminum Honeycomb, Others), by Aircraft Type Outlook: (Narrow-Body Aircraft, Wide-Body Aircraft, V...

Aerospace Floor Panel Market Report Description

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Competitive Landscape of the Aerospace Floor Panel Market

There is a lot of regulation and fragmentation in the worldwide market. Globally, the major players have created a very strong and effective supply chain. Different components are assembled at various sites and manufactured in various regions of the world. The market frequently uses long-term supply agreements to prevent supply delays. Key players are also concentrating on merger and acquisition efforts to accommodate huge customer demands and increase internal manufacturing capabilities. By doing this, the company's total supply performance is improved and its reliance on other manufacturers is reduced.

July 2024: By offering improved services for the LEAP engine, such as thorough maintenance and repair solutions, Singapore Technologies Engineering Ltd. increased its support for Safran Aircraft Engines. By utilizing ST Engineering's experience in aerospace service, the partnership enhances engine performance and dependability. The collaboration shows a dedication to improving engine technology and maximizing Safran's LEAP engines' operational efficiency. (Source: https://www.stengg.com/en/newsroom/news-releases/st-engineering-deepens-leap-engines-support-for-safran-aircraft-engines/ ) November 2023: Sonaca entered into a contract with Gill Corporation France to supply honeycomb parts for Airbus programs. Gill Corporation provides cutting-edge honeycomb core materials under this deal, which are essential to the lightweight and structural integrity of Airbus aircraft. The agreement supports the continuous needs of Airbus's aircraft production and solidifies Gill Corporation's position as a major aerospace supplier. (Source: https://www.thegillcorp.com/the-gill-corporation-france-secures-honeycomb-parts-contract-with-sonaca-for-airbus-programs/ ) June 2023: The Air Force Research Laboratory (AFRL) will get a 1-megawatt electric generator from Collins Aerospace. These technologies will be safely and effectively powered by the 1MW generator, which was created by the company's Collins Aerospace division. Using The Grid, its advanced electric power systems facility scheduled to open in 2023 in Rockford, Illinois, the business hopes to test the generator to Technology Readiness Level (TRL) 5 in 2024 and deliver hardware to the AFRL. (Source: https://www.rtx.com/news/news-center/2023/06/20/rtx-developing-1mw-generator-under-contract-with-the-air-force-research-laborator )

Top Companies Market Share in Aerospace Floor Panel Industry: (In no particular order of Rank)

• Comtek Advanced Structures Ltd.
• AIM Aviation Ltd.
• EURO Composites Corporation
• Aeropair Ltd.
• Rockwell Collins Inc.
• Zodiac Aerospace
• Elbe Flugzeugwerke GmbH
• Singapore Technologies Engineering Ltd.
• Aim Altitude
• Hexcel Corporation
• EnCore Group
• Triumph Group Inc.
• Gurit Holding
• The Gill Corporation
• Advanced Custom Manufacturing
• The Nordam Group Inc.
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Aerospace Floor Panel Market

Which Region Dominates the Aerospace Floor Panel Market in 2024?

According to Cognitive Market Research, North America currently dominates the Aerospace Floor Panel market, and the region is expected to have significant growth during the projected period. Together with strong defense strategies, the region has established itself as the greatest economy. Aerospace floor panels are important, as seen by the rise in aviation investment over the last few years. Market demand is raised by the growing significance of research and development as well as the accessibility of improved manufacturing capabilities. Furthermore, government assistance and investments in the aircraft sector increase market demand.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). Growing regional markets are responsible for the aviation industry's explosive growth in the area. Another factor influencing industry advancements is the region's emphasis on updating and modernizing aircraft fleets. Additionally, the availability of skilled personnel and the development of transportation infrastructure are factors.

The current report Scope analyzes Aerospace Floor Panel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Aerospace Floor Panel

According to Cognitive Market Research, the global Aerospace Floor Panel market size was estimated at USD 451.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 180.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Aerospace Floor Panel market with a market size of USD 142.49 million in 2024 and is projected to grow at a CAGR of 3.5% during the forecast period. The need for aerospace floor panels in this nation is being driven by the region's rapidly growing air traffic passenger population.
• The Canada Aerospace Floor Panel market had a market share of USD 21.67 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period attributed to producing high-quality and long-lasting floor panels through the early adoption of cutting-edge technology, materials, and manufacturing techniques.
• The Mexico Aerospace Floor Panel market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 16.43 million in 2024.

Europe Aerospace Floor Panel

According to Cognitive Market Research, the global Aerospace Floor Panel market size was estimated at USD 451.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 135.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.

• The United Kingdom Aerospace Floor Panel market had a market share of USD 22.76 million in 2024 and is projected to grow at a CAGR of 4.8% during the forecast period because of the nation's firmly established aerospace sector, which boasts a large production base and a strong supply chain.
• The France Aerospace Floor Panel market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 12.46 million in 2024.
• According to Cognitive Market Research, the German Aerospace Floor Panel market size was valued at USD 26.82 million in 2024 and is projected to grow at a CAGR of 4.2% during the forecast period driven by rising demand for air travel and growing capacity for aerospace manufacturing.
• The Italy Aerospace Floor Panel market is projected to witness growth at a CAGR of 3.4% during the forecast period, with a market size of USD 11.65 million in 2024.
• The Russia Aerospace Floor Panel market is projected to witness growth at a CAGR of 3.0% during the forecast period, with a market size of USD 20.99 million in 2024.
• The Spain Aerospace Floor Panel market is projected to witness growth at a CAGR of 3.1% during the forecast period with a market size of USD 11.11 million in 2024
• The Luxembourg Aerospace Floor Panel market is projected to witness growth at a CAGR of 4.1% during the forecast period, with a market size of USD 4.20 million in 2024.
• The Portugal Aerospace Floor Panel market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD 2.84 million in 2024.
• The Greece Aerospace Floor Panel market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD 1.63 million in 2024.
• The Rest of Europe's Aerospace Floor Panel market is projected to witness growth at a CAGR of 2.7% during the forecast period, with a market size of USD 20.99 million in 2024.

Asia Pacific Aerospace Floor Panel

According to Cognitive Market Research, the global Aerospace Floor Panel market size was estimated at USD 451.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 103.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.

• According to Cognitive Market Research, the China Aerospace Floor Panel market size was valued at USD 46.73 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. This country's rapidly increasing air traffic passenger population is driving the requirement for aeronautical floor panels.
• The Japan Aerospace Floor Panel market is projected to witness growth at a CAGR of 6.0% during the forecast period, with a market size of USD 14.33 million in 2024.
• The India Aerospace Floor Panel market had a market share of USD 12.46 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period credited with creating durable and high-quality floor panels by implementing innovative materials, manufacturing processes, and technologies early on.
• The South Korean Aerospace Floor Panel market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 10.38 million in 2024.
• The Australian Aerospace Floor Panel market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 5.40 million in 2024.
• The South East Asia Aerospace Floor Panel market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 7.17 million in 2024.
• The Rest of Asia Pacific Aerospace Floor Panel market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 7.37 million in 2024.

South America Aerospace Floor Panel

According to Cognitive Market Research, the global Aerospace Floor Panel market size was estimated at USD 451.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 22.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Aerospace Floor Panel market size was valued at USD 9.66 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period due to the country's well-established aircraft industry, which has a robust supply chain and a sizable production base.
• Argentina's Aerospace Floor Panel market had a market share of USD 3.79 million in 2024 and is projected to grow at a CAGR of 5.8% during the forecast period driven by expanding aerospace manufacturing capability and an increase in the demand for air travel.
• Colombia Aerospace Floor Panel market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 2.01 million in 2024.
• Peru Aerospace Floor Panel market is projected to witness growth at a CAGR of 5.1% during the forecast period, with a market size of USD 1.85 million in 2024.
• Chile Aerospace Floor Panel market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 1.63 million in 2024.
• The Rest of Latin America's Aerospace Floor Panel market is projected to witness growth at a CAGR of 4.0% during the forecast period, with a market size of USD 3.63 million in 2024.

Middle East and Africa Aerospace Floor Panel

According to Cognitive Market Research, the global Aerospace Floor Panel market size was estimated at USD 451.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 9.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031..

• The GCC Countries Aerospace Floor Panel market is projected to witness growth at a CAGR of 6.0% during the forecast period, with a market size of USD 3.86 million in 2024 because of the nation's well-established aircraft sector, which boasts a substantial production base and a strong supply chain.
• The Egypt Aerospace Floor Panel market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 0.95 million in 2024.
• The South Africa Aerospace Floor Panel market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 1.43 million in 2024 driven by rising demand for air travel and growing aerospace production capacity.
• The Turkey Aerospace Floor Panel market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 0.78 million in 2024.
• The Nigeria Aerospace Floor Panel market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD 0.95 million in 2024.
• The Rest of the MEA Aerospace Floor Panel market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 1.07 million in 2024.

Aerospace Floor Panel Market Analysis

How are Segments Performing in the Global Aerospace Floor Panel Market?

Aerospace Floor Panel Market m Type Segment Analysis

According to Cognitive Market Research, Nomex honeycomb category is likely to dominate the Aerospace Floor Panel Market over the forecast period The market is growing because of the demand for these materials because of their fire-resistant qualities and safety requirements. In addition to offering superior thermal and acoustic insulation, this material can withstand extreme temperatures. A further factor in the material's extensive use in the aerospace sector is its exceptional dimensional stability and resistance to chemicals and moisture.

The aluminum honeycomb is the fastest-growing segment in the Aerospace Floor Panel Market because the material used in airplane design is crucial for reducing weight. It weighs less than common floor panel materials like steel and metal. In addition to saving fuel, this improves the aircraft's internal performance. Advanced manufacturing processes like additive manufacturing have made it easier to produce intricate, bespoke aluminum honeycomb structures, which has led to a rise in their use in the aerospace floor panel sector.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Aerospace Floor Panel Industry. Request a Free Sample PDF!

Aerospace Floor Panel Market Aircraft Type Segment Analysis

According to Cognitive Market Research, the narrow body aircrafts segment holds the largest share of the market because of their extensive usage on short- to medium-distance routes, which raises the amount of output. The continuous need for effective, lightweight, and long-lasting materials to improve fuel economy and lower overall operating expenses helps this market. Narrow body aircraft play an important part in the business, as the Federal Aviation Administration (FAA) estimates that they will account for 55% of the future global market value.

In the Aerospace Floor Panel Market, the wide-body aircraft has been expanding at a rapid pace driven by both expanded passenger capacity and the growing demand for long-haul flights. Wide-body aircraft are the favored option for both international and transcontinental travel because of their ability to transport more people and goods over longer distances. In order to handle the increasing air traffic and improve operational efficiency, airlines are investing more and more in these aircraft. Furthermore, the demand for lightweight floor panel materials in wide-body aircraft is increasing as a result of improvements in fuel efficiency, aircraft weight reduction, and composite and honeycomb structures.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Aerospace Floor Panel End-use Outlook: Segment Analysis

Aerospace Floor Panel Market End-use Segment Analysis

According to Cognitive Market Research, the commercial aviation segment holds the largest market share relating to the need for fleet modernization, growing airline fleets, and rising air traveler traffic. The segment is growing because commercial aircraft require greater floor panel areas than other aviation applications, like general aviation or military aviation. The market expansion is further aided by commercial airlines' emphasis on passenger comfort, safety, and operational effectiveness. Additionally, makers of commercial aircraft make significant investments in robust, high-quality aerospace floor panels.

In the Aerospace Floor Panel market, the rapidly growing sector is the military aircrafts category. The market for aerospace floor panels is predicted to be fueled by rising geopolitical unrest, global tensions, and emerging economies' investments in modernizing defense aircraft. The defense industry's upgrade strategies are positively impacted by the large resources allocated to training and simulation.

• Commercial aviation
• Military aircrafts
• Business jets

Author's Detail

Anjali Lawand

Research Associate at Cognitive Market Research

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Anjali Lawand is an accomplished market researcher with a distinct focus on the intricate sector of the Aerospace and Defense. Driven by an unshakable analytical prowess and an insatiable appetite for technological progress, she has committed more than ten years to immersing herself in the ever-evolving panorama that molds the trajectory of aviation, space exploration, and the critical sphere of national security.

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