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Aerospace Floor Panels Market Growth, Revenue & Industry Analysis, and Regional Forecast, 2020-2027

The global aerospace floor panels market size is projected to reach USD 107.27 million by the end of 2027. The increasing investment…

By Emelia Murison , in Press Release , at June 10, 2021 6:42 AM EDT Tags:

The global aerospace floor panels market size is projected to reach USD 107.27 million by the end of 2027. The increasing investment in the research and development of efficient aerospace floor panels will constitute an increase in the overall market size.

According to a report published by Fortune Business Insights, titled Aerospace Floor Panels Market Size, Share & Industry Analysis, By Core Material (Nomex Honeycomb, Aluminum Honeycomb, and Others), By Aircraft (Commercial, Military, Business & General Aviation and Others) and Regional Forecast, 2020-2027,” the market was worth USD 75.37 million in 2019 and will exhibit a CAGR of 5.45% during the forecast period, 2020-2027.

 

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

The current pandemic of Covid-19 has made a catastrophic impact on the world. Most businesses are shut as a result of the increasing COVID-19 cases. The healthcare industry is facing shortage of medical aid as there are not enough beds to suffice the needs of the increasing number of patients. The world economy is fluctuating as most businesses are at a halt and the ones running from the vicinity of their homes are barely able to manage revenue.

Special reports on various markets affected by the coronavirus pandemic are provided by Fortune Business Insights. These reports will help visualize the current situation and what strategies can be adopted to help the market gain momentum in the coming years.

 

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List of the Leading Companies Profiled in the Aerospace Floor Panels Market Research Report are:

  • Rockwell Collins (UTC){USA}
  • EFW{Germany}
  • The Gill Corporation{USA}
  • Avcorp Industries{Canada}
  • Triumph Group{USA}
  • The NORDAM Group LLC{USA}
  • ENCORE GROUP{USA}
  • EURO COMPOSITES{USA}
  • AIM ALTITUDE{UK}
  • Advanced Custom Manufacturing{USA}
  • Others

 

Aerospace Floor Panels Market Size are widely used in the aerospace industry accounting to their favourable properties such as high strength and resistance to external factors. The massive investments in the research and development of this product are consequential to the increasing demand and applications. The presence of several large scale companies in the market will contribute to rapid growth. Increasing applications of the product will have a direct impact on the growth of the overall market. The rising air traffic is another factor that will lead to a wider adoption of aerospace floor panels across the world. Increasing safety and construction standards will bode well for the growth of the overall market in the coming years. The constantly rising flight travels will emerge in favor of market growth.

 

Increasing Number of Company Mergers and Acquisitions Will Provide Impetus to Market Growth

The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. In December 2018, UTC announced that it has completed the acquisition of Rockwell Collins. This acquisition is deemed as one of the largest M&As of recent times. Through this acquisition, UTC will establish itself as one of the powerhouses in the aerospace industry. This acquisition will not just benefit the company but will have a direct impact on the growth of the aerospace floor panels market in the coming years.

 

North America to Emerge Dominant; Presence of Several Large Scale Manufacturers to Aid Growth

The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is expected to emerge dominant in the coming years. The United States is a hub for several large scale aerospace floor panel manufacturers. The presence of several large scale companies will ultimately emerge in favor of the growth of the overall market. The United States is also one of the largest consumers of the product; a factor that will influence the growth of the regional market. As of 2019, the market in North America was worth USD 35.65 million and this value is projected to increase at a considerable pace driven by the high investment in product R&D by major companies.

The market in Europe accounts for the second largest share among all regions. The presence of floor panel giants such as Airbus has benefited the growth of the market. Moreover, other large scale companies in several countries such as Germany, France, and the UK will contribute to the growth of the overall market in this region.

 

Triumph Group Announces New Contract with Boeing

The report highlights a few of the major company mergers and collaborations of recent ties and discusses the impact of these industry developments on the growth of the market. Accounting to the increasing applications of these floor panels in the aerospace and defense industry, Army forces across several countries as well as companies in this market are collaborating with other experienced vendors for customized requirements. In September 2017, Triumph Group announced that it has received a contract from Boeing for the development of new airplanes. The company announced that it will be supplying ducting and floor panels for Boeing’s 737, 767, 777X, and 787 airplanes. The company will be delivering these composites over the next decade. Triumph’s latest contract with Boeing will not just help the company generate short-term revenues, but will have a direct impact on the growth of the overall market in the coming years.

 

Product Innovations Pertaining to Extremely Light-weight Materials will Aid Growth

The construction of any aerospace body aims at the use of minimum weight maximum strength. As aerospace floor panels cater to these requirements, they are widely used across the aerospace industry. Technological advancements have played a huge role in the development of extremely light-weight as well as highly durable and high-strength products in recent years. The increasing investments in technological intervention will have a direct impact on the growth of the overall market in the coming years.


Industry Developments:

September 2017: Triumph Group announced that it has extended its contract with Boeing for ducting and floor panels required for Boeing’s 737 (legacy and MAX), 767, 777X and 787 airplanes. Through this contract, the company will deliver these composite materials over the next decade.

 

Browse Complete Research Report Summary 

 

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