Trends in the Aerospace Floor Panels Market up to 2025
Light weight, high strength, durability, and non-flammable floor panels are key criteria in the manufacture of aerospace floor panels. Sandwich honeycomb panels replaced conventionally used heavier sheet or stringer or beam support approach for floor panels in the 1940s in the aerospace industry in order to reduce the weight and increase payload and flight distance. These products are used for flooring in aircraft. Based on application and property, various core materials such as aluminum, polypropylene, Nomex, and stainless steel are used in designing aerospace floor panels. High performance composites and similar materials are used in advanced honeycomb panels in the manufacture of aerospace floor panels.
Based on type of core material, the aerospace floor panels market can be segmented into Nomex honeycomb, aluminum honeycomb, and others. In terms of aircraft type, the aerospace floor panels market can be divided into narrow body aircraft, wide body aircraft, very large aircraft, general aviation, defense aircraft, and others. Based on end-user type, the aerospace floor panels market can be bifurcated into OEM and aftermarket.
With increased military expenditure across major economies such as U.S., China, Western Europe and UAE, is expected to drive the growth of aerospace floor panels market in coming years. And also the robust growth of aerospace industry is observed due to increasing demand for air transportation is having positive impact to drive the aerospace floor panels market. Technological advancements and significant investments in R&D by OEMs for the manufacture of aerospace structural parts are expected to boost the market. However, regulatory framework for these panels is governed by the Toxic Substances Control Act of 1976 (TSCA); the Comprehensive Environmental Response, Compensation, and Liability Act (CECRLA); Workplace Hazardous Materials Information System (WHMIS); and the Resource Conservation and Recovery Act (RCRA). These bodies specify the dangers associated with panels, concerned raw materials to be used in honeycombs, and their general requirements for storage.
In terms of geography, North America holds a large share of the global aerospace floor panels market due to the presence of major aircraft fleet such as AIRBUS, Boeing, and Lockheed Martin etc. Growth of the fleet is expected to directly increase the consumption of aerospace floor panels. Asia Pacific and Europe are also key regions of the market. The aerospace floor panels market in Asia Pacific is anticipated to expand significantly during the forecast period owing to the expansion in the aerospace industry and increase in demand for various types of aircraft types in countries such as India and China. Latin America and Middle East & Africa are estimated to account for relatively small share of the global aerospace floor panels market.
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Key players operating in the global aerospace floor panels market include NORDAM Group, Inc., Rockwell Collins, Inc., Zodiac Aerospace, and Encore Group. Companies can supply aerospace floor panels to OEMs through the direct supply channel or via distributors.