North America Aircraft Floor Panel Market
The North America aircraft manufacturing industry is witnessing significant growth due to the surging demand for passenger and military aircraft across North America. The mounting demand for air travel across North America 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 North America aircraft floor panel market. The growing defense expenditure across North America economies is expected to drive the growth of the North America aircraft floor panel market in the coming years. The robust growth of the aerospace and defense industry, which is witnessed due to rising demand for air transportation, is also having a positive impact on driving the North America aircraft floor panel market. Other factors such as emphasizing aircraft orders and delivery volumes and growing focus on the use of lightweight materials are expected to drive the North America aircraft floor panel market.
Furthermore, in case of COVID-19, North America is highly affected specially the US. Since the US has a larger density of aircraft manufacturers and component manufacturers, the outbreak has severely affected the production of each. The lower number of manufacturing staff and temporary suspension of production facilities have resulted in lesser production quantity. Boeing, the aviation giant in the region, has witnessed a significant fall in orders and production, which is one of the key restraining factors for the aircraft floor panels market. For instance, Boeing delivered only 98 aircraft by the end of September. Apart from Boeing, several other aircraft OEMs such as Bombardier, Textron, and Gulfstream, among others, also experienced tremors of COVID – 19 on their orders and production lines. From the supply side, the region has higher numbers of aircraft floor panel manufacturers. The restricted workforce, disruption in the supply chain, and limited volumes of orders have sternly shaken the region's aircraft floor panel market players. On the other hand, the Canadian and Mexican aircraft floor panel market is also experiencing slower than usual growth due to the COVID – 19 outbreaks.
Strategic insights for the North America 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$ 237.47 Million |
| Market Size by 2027 | US$ 361.73 Million |
| Global CAGR (2020 - 2027) | 7.6% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Aircraft Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America 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 North America aircraft floor panel market is expected to grow from US$ 237.47 million in 2019 to US$ 361.73 million by 2027; it is estimated to grow at a CAGR of 7.6% from 2020 to 2027. Rising adoption of wide-body jets and business jets is expected to accelerate the North America aircraft floor panel market. The wide body jets are foreseen to be the concreting the future of the North America aviation industry, with the mounting number of orders for the new-generation wide body jets. The demand for A330 series, A350 series, B777 series, and B787 series models of wide body jets is currently greater than other models; these aircraft models are fuel-efficient and feature a longer range and higher endurance. These factors attract a substantial number of FSCs and LCCs, which boosts the order and shipment volumes. This further catalyzes the demand for aircraft floor panels among the aircraft manufacturers across North America. The A330 series aircraft model is one of the largest aircraft in the Airbus product list, and the demand for the same is foreseen to continue to rise among various airlines. Being one of the largest aircraft models, the aircraft incorporates greater number of aircraft floor panels, and thus, the surge in its production increases the adoption of flooring panels. The projected rise in demand for large aircraft is expected to increase the demand of floor panels which will drive the North America aircraft floor panel market during the forecast period.
In terms of aircraft type, the narrow body aircrafts segment accounted for the largest share of the North America aircraft floor panel market in 2019. In terms of material type, the nomex honeycomb segment held a larger market share of the North America aircraft floor panel market in 2019. Similarly, in terms of sales channel, the OEM segment held a larger market share of the North America aircraft floor panel market in 2019. Further, the commercial segment held a larger share of the North America 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 North America 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 North America Aircraft Floor Panel Market is valued at US$ 237.47 Million in 2019, it is projected to reach US$ 361.73 Million by 2027.
As per our report North America Aircraft Floor Panel Market, the market size is valued at US$ 237.47 Million in 2019, projecting it to reach US$ 361.73 Million by 2027. This translates to a CAGR of approximately 7.6% during the forecast period.
The North America 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 North America Aircraft Floor Panel Market report:
The North America Aircraft Floor Panel Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Aircraft Floor Panel Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Aircraft Floor Panel Market value chain can benefit from the information contained in a comprehensive market report.
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