Europe Aircraft Floor Panel Market
The Europe aircraft manufacturing industry is witnessing significant growth due to the surging demand for passenger and military aircraft across Europe. The increasing disposable incomes and growing population in various countries across Europe are some of the major factors driving the demand for various aircrafts types. The mounting demand for air travel across European region leads to the increased production of aircraft from manufacturers such as Boeing and Airbus. Aircraft floor panels are a critical component used in various types of aircraft, such as wide–body aircraft, narrow–body, and general aviation. This light-weight component has high durability and strength, which is ideal for aerospace applications. Based on the materials, several core materials, such as nomex and aluminum, are used in developing aerospace floor panels. The positive growth in the aircraft types is anticipated to fuel the demand for aircraft floor panel and offer future growth opportunities to market players operating in the Europe aircraft floor panel market. The positive growth outlook of the Europe aviation industry and the growing number of air passengers are two key factors driving the demand for the aircraft floor panel across Europe region. In addition, the growing demand for low cost & ultra-low-cost carriers and mounting investments in composite material for enhanced capabilities are the factors that will fuel the future demand for aircraft floor panel across Europe.
Furthermore, in case of COVID-19, Europe is highly affected specially the UK. The European aviation industry is composed of aircraft OEMs, component suppliers, airlines, and MRO service providers. The outbreak of the COVID – 19 viruses has affected each aviation business stakeholders' business in the region. Several airlines in the region have postponed the pending aircraft fleet's procurement dates to manage their current operational costs during COVID-19 times and post-COVID-19 times. This has led the aircraft OEMs and component suppliers to suffer economic loss. This factor has had a negative result on the European aircraft floor panel market players. From the commercial aviation perspective and MRO perspective, several airlines have grounded a notable number of fleets with an aim to drive their business with the remaining fleet as the passenger count has drastically reduced across the region. Apart from this factor, the ban on air travel had forced the airlines and corporate jets to temporarily cease their operations, thereby lowering the MRO shop visits, resulting in the procurement of lesser volumes of aircraft floor panels and other components MRO facilities. This parameter also affected the aircraft floor panels market.
Strategic insights for the Europe Aircraft Floor Panel provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 186.63 Million |
| Market Size by 2027 | US$ 325.57 Million |
| Global CAGR (2020 - 2027) | 9.7 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Aircraft Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Aircraft Floor Panel refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Europe aircraft floor panel market is expected to grow from US$ 186.63 million in 2019 to US$ 325.57 million by 2027; it is estimated to grow at a CAGR of 9.7 % from 2020 to 2027. Growth in the demand for air freighter fleet is expected to upsurge the Europe aircraft floor panel market. The Europe air freight business is surging at an exponential rate, thereby driving the orders and shipment of freighter aircraft models across Europe. The wide body freighters dominated the air freight industry over the years, thus boosting the procurement volumes of aircraft floor panels across Europe. The flooring of any freighter aircraft is manufactured with ultimate precaution and accuracy, as the floor panels need to carry heavier loads than passenger aircraft cargo compartments. Moreover, the strength and rigidity of these floor panels is of utmost importance. The increasing demand for stronger floor panels, coupled with the rise in freighter aircraft production volumes, the Europe aircraft floor panel market players offering their products to freighter aircraft manufacturers are experiencing healthy demand, which is driving their business. Several cargo carriers are procuring narrow body freighters and are also converting the existing narrow body passenger aircraft to freighter aircraft. The Boeing B737 series aircraft fleet is also anticipated to experience strong demand for passenger-to-freighter conversion, which would allow several European aircraft floor panel market players and aftermarket players to witness higher demand for their products and services. These developments would propel the Europe aircraft floor panel market in the coming years. The mounting demand for freighter aircraft, also leading to the surge in passenger-to-freighter conversion, would escalate the need for suitable floor panels in the coming years, which will drive the Europe aircraft floor panel market.
In terms of aircraft type, the narrow body aircrafts segment accounted for the largest share of the Europe aircraft floor panel market in 2019. In terms of material type, the nomex honeycomb segment held a larger market share of the Europe aircraft floor panel market in 2019. Similarly, in terms of sales channel, the OEM segment held a larger market share of the Europe aircraft floor panel market in 2019. Further, the commercial segment held a larger share of the Europe aircraft floor panel market based on end user in 2019.
A few major primary and secondary sources referred to for preparing this report on the Europe aircraft floor panel market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Aeropair Ltd; Aim Altitude UK Ltd.; Avcorp Industries Inc.; Collins Aerospace, a Raytheon Technologies Corporation company; Euro Composite S.A.; Safran S.A; Singapore Technologies Engineering Ltd; The Gill Corporation; The Nordam Group LLC.
Some of the leading companies are:
The Europe Aircraft Floor Panel Market is valued at US$ 186.63 Million in 2019, it is projected to reach US$ 325.57 Million by 2027.
As per our report Europe Aircraft Floor Panel Market, the market size is valued at US$ 186.63 Million in 2019, projecting it to reach US$ 325.57 Million by 2027. This translates to a CAGR of approximately 9.7 % during the forecast period.
The Europe Aircraft Floor Panel Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Aircraft Floor Panel Market report:
The Europe Aircraft Floor Panel Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Aircraft Floor Panel Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Aircraft Floor Panel Market value chain can benefit from the information contained in a comprehensive market report.
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