Report : Europe Aircraft Floor Panel Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Aircraft Type (Wide Body Aircrafts, Narrow Body Aircrafts, and General Aviation), Material Type (Aluminum Honeycomb and Nomex Honeycomb), Sales Channel (OEM and Aftermarket), and End User (Commercial and Military)
Nomex Honeycomb Segment to Dominate Europe Aircraft Floor Panel Market during 2019–2027
According to a new market research study on “Europe Aircraft Floor Panel Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Aircraft Type, Material Type, Sales Channel, and End User,” is expected to reach US$ 325.57 million by 2027 from US$ 186.63 million in 2019. The market is estimated to grow at a CAGR of 9.7 % from 2020 to 2027. The report provides trends prevailing in the Europe aircraft floor panel market along with the drivers and restraints pertaining to the market growth. Rising emphasis on use of lightweight materials and highlighting aircraft orders and delivery volumes are the major factor driving the growth of the Europe aircraft floor panel market. However, Boeing’s issue from B737 max and stoppage of A380 program hinder the growth of Europe aircraft floor panel market.
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.
The Europe market for aircraft floor panel is segmented into aircraft type, material type, sales channel, end user, and country. Based on aircraft type, the market is segmented into wide body aircrafts, narrow body aircrafts, and general aviation. The narrow body aircrafts segment got the highest share of the market in 2019 and wide body aircrafts is expected to be fastest growing segment during forecast period. Based on material type, the market is divided into the aluminum honeycomb and nomex honeycomb. The nomex honeycomb segment led the market in 2019 and is expected to be fastest growing during forecast period. Based on the sales channel, the market is segmented into OEM and aftermarket. The OEM segment got the highest share of market in 2019 and is expected to be fastest growing during forecast period. Based on end user, the market is divided into commercial and military. Commercial segment dominates the market in 2019 and is expected to be fastest growing during forecast period.
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 are among the leading companies in the Europe aircraft floor panel market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Euro Composite S.A. was selected by Dornier Seawings GmbH to designs aircraft floor panel for the Dornier Seastar prototype 1003.
The report segments the Europe Aircraft Floor Panel Market as follows:
Europe Aircraft Floor Panel Market – By Aircraft Type
- Wide Body Aircrafts
- Narrow Body Aircrafts
- General Aviation
Europe Aircraft Floor Panel Market – By Material Type
- Aluminum Honeycomb
- Nomex Honeycomb
Europe Aircraft Floor Panel Market – By Sales Channel
Europe Aircraft Floor Panel Market – By End User
Europe Aircraft Floor Panel Market – By Country
- Rest of Europe
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