Report : North America 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)
Narrow Body Aircrafts Segment to Dominate North America Aircraft Floor Panel Market during 2019–2027
According to a new market research study on “North America 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$ 361.73 million by 2027 from US$ 237.47 million in 2019. The market is estimated to grow at a CAGR of 7.6 % from 2020 to 2027. The report provides trends prevailing in the North America aircraft floor panel market along with the drivers and restraints pertaining to the market growth. Emphasizing aircraft orders and delivery volumes and growing focus on the use of lightweight materials are the major factor driving the growth of the North America aircraft floor panel market. However, Boeing’s upset from B737 Max and cessation of A380 program hinder the growth of North America aircraft floor panel market.
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.
The North America 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 North America 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, Collins Aerospace Systems, a Raytheon Technologies Corporation company opened a new 140,000 square foot manufacturing facility in Jacksonville, US.
The report segments the North America Aircraft Floor Panel Market as follows:
North America Aircraft Floor Panel Market – By Aircraft Type
- Wide Body Aircrafts
- Narrow Body Aircrafts
- General Aviation
North America Aircraft Floor Panel Market – By Material Type
- Aluminum Honeycomb
- Nomex Honeycomb
North America Aircraft Floor Panel Market – By Sales Channel
North America Aircraft Floor Panel Market – By End User
North America Aircraft Floor Panel Market – By Country
Contact Person: Sameer Joshi
Email Id: firstname.lastname@example.org