Report : Middle East and Africa 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)
Wide Body Aircrafts Segment to Dominate MEA Aircraft Floor Panel Market during 2019–2027
According to a new market research study on “MEA 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$ 47.63 million by 2027 from US$ 33.96 million in 2019. The market is estimated to grow at a CAGR of 5.4 % from 2020 to 2027. The report provides trends prevailing in the MEA aircraft floor panel market along with the drivers and restraints pertaining to the market growth. Mounting emphasis on use of lightweight materials and increasing demand for air freighter fleet are the major factor driving the growth of the MEA aircraft floor panel market. However, Boeing’s disappointment from B737 max and cancellation of A380 program hinder the growth of MEA aircraft floor panel market.
In case of COVID-19, MEA is highly affected specially the UAE and Iran. The MEA aircraft floor panels market is majorly affected by the disruption in the supply chain. Pertaining to the closure of countries' borders, the supply chain of several components and parts has been disturbed. The demand for advanced aircraft components, including aircraft floor panels for line fitting and retrofitting activities on military aircraft fleet and general aviation fleet among the aircraft manufacturers, military forces, and MRO service providers, has weakened over the past couple of months. This has resulted in a loss of business among the aircraft floor panel market players offering their products to respective customers in the MEA region. Additionally, several airlines have postponed or canceled the procurement or orders of scheduled aircraft. South Africa has few aircraft manufacturers, which produce general aviation piston aircraft. The widespread COVID – 19 viruses have led the manufacturers to suspend their operations or operate with a minimal workforce temporarily. This has weakened the demand for aircraft floor panels, thereby hindering the country's aircraft floor panel market
The MEA 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 wide body aircrafts segment got the highest share of the market in 2019 and 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 aftermarket segment got the highest share of market in 2019 and OEM segment 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.
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 are among the leading companies in the MEA 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. announced to invest 160 million euro in develop and expand its Luxembourg site over the next 10 years.
The report segments the MEA Aircraft Floor Panel Market as follows:
MEA Aircraft Floor Panel Market – By Aircraft Type
- Wide Body Aircrafts
- Narrow Body Aircrafts
- General Aviation
MEA Aircraft Floor Panel Market – By Material Type
- Aluminum Honeycomb
- Nomex Honeycomb
MEA Aircraft Floor Panel Market – By Sales Channel
- OEM
- Aftermarket
MEA Aircraft Floor Panel Market – By End User
- Commercial
- Military
MEA Aircraft Floor Panel Market – By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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