South America Aircraft Floor Panel Market
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 SAM aircraft floor panel market. The positive growth outlook of the SAM aviation industry and the growing number of air passengers are two key factors driving the SAM aircraft floor panel market. The increasing use of material used for floor panels is propelled by the growth in demand for light-weight material in the SAM aerospace & defense industry; thus, driving the market growth. 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 drive the SAM aircraft floor panel market. Other drivers such as mounting demand for air freighter fleet and escalation in the adoption of wide body jets and business jets are also expected to drive the SAM aircraft floor panel market.
Furthermore, in case of COVID-19, Brazil has the highest number of cases, followed by Peru, Chile, Colombia, and Ecuador, among others. SAM's government has taken an array of actions to protect their citizens and contain COVID-19's spread. Brazil is the largest spender in the aerospace industry and is the only modern aircraft manufacturing country in the region. Owing to this, the demand for components and parts is at an all-time high in the country. In addition, the majority of the components are imported from the US, China, and European countries. The slowdown in commercial and military aircraft production in the country has impaired the supply chain in Brazil. This has weakened the demand for several components, including aircraft floor panels. Thus, the outbreak of COVID-19 has had a harsh impact on the SAM aircraft floor panels market, especially in Brazil.
Strategic insights for the South 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$ 78.63 Million |
| Market Size by 2027 | US$ 120.69 Million |
| Global CAGR (2020 - 2027) | 7.1 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Aircraft Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South 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 SAM aircraft floor panel market is expected to grow from US$ 78.63 million in 2019 to US$ 120.69 million by 2027; it is estimated to grow at a CAGR of 7.1 % from 2020 to 2027. Surging focus on the use of lightweight materials is expected to escalate the SAM aircraft floor panel market. The SAM aviation industry players are emphasizing the manufacturing and integration or mounting of lightweight materials on aircraft. The aviation authorities, aircraft manufacturers, aircraft component manufacturers, MRO service providers, and military forces across SAM region are seeking lightweight materials for each component to extend the flying range of the aircraft and increase fuel efficiency. Since the floor panels are critical components of any aircraft, the demand for lightweight floor panels is on the rise. This factor compels floor panel manufacturers across SAM region to design and develop the lightest possible floor panels for modern aircraft fleet. The aircraft floor panel market players across SAM region are leveraging the low weight nature of nomex and aluminum honeycomb structures. Both the materials are widely used in the construction of aircraft floor panels; however, nomex being 20% lighter than aluminum, the inclination toward nomex honeycomb floor panels is higher among the aircraft manufacturers, which would drive its adoption during the forecast period across SAM region. In addition to being lightweight in nature, the nomex honeycomb structures have a longer lifespan than its counterpart aluminum. The longer lifespan facilitates the aircraft operators to use the structure over a longer period without the need for frequent MRO service adoption. Advantages of light material such as longer lifespan, excellent fuel efficiency etc. is expected to increase its demand for floor panel manufacturing, which will drive the SAM aircraft floor panel market.
In terms of aircraft type, the narrow body aircrafts segment accounted for the largest share of the SAM aircraft floor panel market in 2019. In terms of material type, the nomex honeycomb segment held a larger market share of the SAM aircraft floor panel market in 2019. Similarly, in terms of sales channel, the OEM segment held a larger market share of the SAM aircraft floor panel market in 2019. Further, the commercial segment held a larger share of the SAM 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 SAM 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 Aim Altitude UK Ltd.; Collins Aerospace, a Raytheon Technologies Corporation company; Euro Composite S.A.; Safran S.A; Singapore Technologies Engineering Ltd; The Gill Corporation.
Some of the leading companies are:
The South America Aircraft Floor Panel Market is valued at US$ 78.63 Million in 2019, it is projected to reach US$ 120.69 Million by 2027.
As per our report South America Aircraft Floor Panel Market, the market size is valued at US$ 78.63 Million in 2019, projecting it to reach US$ 120.69 Million by 2027. This translates to a CAGR of approximately 7.1 % during the forecast period.
The South 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 South America Aircraft Floor Panel Market report:
The South 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 South America Aircraft Floor Panel Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Aircraft Floor Panel Market value chain can benefit from the information contained in a comprehensive market report.
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