Commercial Aircraft Floor Panels Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Commercial Aircraft Floor Panels Market is Segmented by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, and Regional Jets) and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

Commercial Aircraft Floor Panels Market Size

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Commercial Aircraft Floor Panels Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 392.64 Million
Market Size (2029) USD 493.17 Million
CAGR (2024 - 2029) 4.67 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Commercial Aircraft Floor Panels Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Commercial Aircraft Floor Panels Market Analysis

The Commercial Aircraft Floor Panels Market size is estimated at USD 392.64 million in 2024, and is expected to reach USD 493.17 million by 2029, growing at a CAGR of 4.67% during the forecast period (2024-2029).

  • One of the primary drivers in this market is the ever-increasing demand for air travel worldwide. As the global population continues to grow and economies expand, more people opt for air travel, leading to more flights. With increasing production rates of the current aircraft programs, the pressure on the supply chain, especially on tier-1 providers, is anticipated to increase. These increased production rates are anticipated to drive the players' profits during the forecast period.
  • Airlines also prioritize fuel efficiency and operational cost savings, pushing for lightweight floor panels to reduce aircraft weight and improve overall efficiency. Furthermore, advancements in materials and manufacturing techniques enable the development of more robust, durable, and lighter floor panels.
  • To improve passenger comfort and safety in the aircraft, the demand for new types of floor panels that are fire retardant, lightweight, and thermally conductive (which can be controlled externally with a central aircraft unit) is increasing. On the other hand, several restraining factors exist. These include the high cost associated with advanced materials, which can limit the adoption of these panels. Additionally, the aviation industry operates under stringent regulatory standards, demanding rigorous testing and certification for any new components, which can lead to delays and increased costs.

Commercial Aircraft Floor Panels Market Trends

Narrow-body Aircraft Segment to Experience the Highest Growth during the Forecast Period

  • The narrow-body aircraft segment of the market is anticipated to register the highest CAGR during the forecast period. This growth is mainly due to the increasing orders and deliveries of narrow-body aircraft, like A220, A320, B737, etc., from various LCCs worldwide during the forecast period. The LCCs are expanding their narrow-body aircraft fleet, as they can help increase profits. With the increasing demand, aircraft manufacturers are increasing their production capacities, resulting in an increased demand for associated parts and components of aircraft.
  • Additionally, new aircraft models like COMAC C919 and MC-21 are anticipated to propel the market's growth further during the forecast period. For instance, in September 2023, China Eastern Airlines signed a USD 9.9 billion contract with the Commercial Aircraft Corporation of China (COMAC) to purchase 100 more units of passenger aircraft on top of the five aircraft already ordered in 2021.
  • As of September 2023, COMAC had a backlog of 1,500 orders of C919 aircraft. Similarly, in September 2022, Aeroflot Group ordered 339 Russian-made aircraft from Rostec. The order comprises 210 Irkut MC-21-300 narrow-body aircraft, 40 Tupolev Tu-214 narrow-body aircraft, and 89 Irkut SSJ 100/95-NEW regional jets.
Commercial Aircraft Floor Panels Market: Projected Narrow-body Aircraft Fleet, Global, (in Units), 2022-2032

Asia-Pacific is Expected to Generate the Highest Demand during the Forecast Period

  • The Asia-Pacific region is expected to generate the highest demand for commercial aircraft floor panels during the forecast period. Passenger traffic in the region has been rapidly growing over the past few years and has been the major driving factor for the aviation market. There is an increase in international and domestic passengers in developing economies like China and India. China is anticipated to overtake the US in terms of air passenger traffic in the next few years.
  • Likewise, India is poised to replace the UK and become the third-largest domestic air passenger traffic aviation market over the next decade. Other countries, like Indonesia, Malaysia, Vietnam, Thailand, and Singapore, are also attracting vast numbers of passengers from various regions worldwide, making the airlines introduce new routes to offer better connectivity. Airlines in Asia-Pacific are increasingly investing in purchasing and modernizing their aircraft fleets to improve operational efficiency and passenger satisfaction.
  • For instance, as of February 2023, Indian private airlines such as Air India, Indigo, and others had 1,100 pending aircraft orders from various aircraft manufacturers. With the increasing aircraft orders and deliveries, simultaneous demand will likely be generated for this region's floor panels during the forecast period.
Commercial Aircraft Floor Panels Market: Market CAGR (%), By Region, Global, 2022

Commercial Aircraft Floor Panels Industry Overview

The commercial aircraft floor panels industry is semi-consolidated. The prominent players in the market are The Gill Corporation, Triumph Group, Singapore Technologies Engineering Ltd., Collins Aerospace (RTX Corporation), and Lufthansa Technik AG. These players supply the floor panels on most Airbus and Boeing aircraft programs.

For instance, in the Boeing B787 Dreamliner, Collins Aerospace provides heated floor panels & integrated controllers; The Gill Corporation provides Gillfab 4809 floor panels with Kevlar honeycomb core & carbon fiber reinforced epoxy skins, and Triumph Group provides composite environmental control systems (ECS) ducting and floor panels. The passenger and cargo floor panels will be installed with panels from different companies in a few aircraft programs. Innovation and product portfolio expansion are anticipated to give companies a competitive edge.

For instance, the new Airbus A321XLR aircraft’s Doors-1 and Doors-4 entrance areas have new heated floor panels. Collins Aerospace has developed aeroBASE multi-use honeycomb floor panels for weight reduction and increased longevity, and the company offers 30 other standard configurations of floor and interior panels.

Additionally, long-term contracts with aircraft OEMs are anticipated to support company growth. For instance, TRB Lightweight Structures offers customized solutions for floor panel replacement. TRB has been leading the way in designing and manufacturing lightweight floor panels since 1954. In June 2023, TRB Lightweight Structures successfully replaced balsa wood and aluminum floor panels in B-17 Flying Fortress aircraft.

Commercial Aircraft Floor Panels Market Leaders

  1. The Gill Corporation

  2. Collins Aerospace (RTX Corporation)

  3. Triumph Group, Inc.

  4. Singapore Technologies Engineering Ltd

  5. Lufthansa Technik AG

*Disclaimer: Major Players sorted in no particular order

Commercial Aircraft Floor Panels Market Concentration
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Commercial Aircraft Floor Panels Market News

  • March 2022: Satair (Airbus) launched a new aircraft floor panel product named Airbus semi-finished floor panel (ASFP) to simplify the repair and replacement of cabin floors. ASFP offers a higher usage area, reduced costs, and improved efficiency.
  • June 2022: Lufthansa Technik (LHT) secured its first contract for a HeatNOW floor heating system from German leisure carrier Condor to install HeatNOW in its Airbus A320 fleet. The HeatNOW system uses conductive coating patented technology to block the formation of cold areas in aircraft cabins.

Commercial Aircraft Floor PanelsMarket Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Aircraft Type

      1. 5.1.1 Narrow-body Aircraft

      2. 5.1.2 Wide-body Aircraft

      3. 5.1.3 Regional Jets

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

      2. 5.2.2 Europe

        1. 5.2.2.1 United Kingdom

        2. 5.2.2.2 France

        3. 5.2.2.3 Germany

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Russia

        6. 5.2.2.6 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 India

        3. 5.2.3.3 Japan

        4. 5.2.3.4 South Korea

        5. 5.2.3.5 Rest of Asia-Pacific

      4. 5.2.4 Latin America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Mexico

        3. 5.2.4.3 Rest of Latin America

      5. 5.2.5 Middle East and Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 United Arab Emirates

        3. 5.2.5.3 Qatar

        4. 5.2.5.4 South Africa

        5. 5.2.5.5 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 The Gill Corporation

      2. 6.2.2 Collins Aerospace (RTX Corporation)

      3. 6.2.3 Triumph Group, Inc.

      4. 6.2.4 Singapore Technologies Engineering Ltd.

      5. 6.2.5 LATECOERE S.A

      6. 6.2.6 Aeropair Ltd.

      7. 6.2.7 Elbe Flugzeugwerke GmbH

      8. 6.2.8 VINCORION Advanced Systems GmbH

      9. 6.2.9 Satair (Airbus SE)

      10. 6.2.10 Lufthansa Technik AG

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Commercial Aircraft Floor Panels Industry Segmentation

Commercial aircraft floor panels are specialized components designed to cover and reinforce airplane flooring structures. These panels are crucial for passenger safety, cabin aesthetics, and overall structural integrity. They are typically made from lightweight yet durable materials, ensuring they meet stringent aviation standards while minimizing weight to enhance fuel efficiency. The study includes various floor panels for aircraft made of aluminum honeycomb, Nomex honeycomb, glass fiber, epoxy resins, and other materials.

The commercial aircraft floor panels market is segmented by aircraft type and geography. Based on the aircraft type, the market is segmented into narrow-body aircraft, wide-body aircraft, and regional jets. The report also covers the market sizes and forecasts for the commercial aircraft floor panels market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).

Aircraft Type
Narrow-body Aircraft
Wide-body Aircraft
Regional Jets
Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Italy
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
Saudi Arabia
United Arab Emirates
Qatar
South Africa
Rest of Middle East and Africa
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Commercial Aircraft Floor PanelsMarket Research FAQs

The Commercial Aircraft Floor Panels Market size is expected to reach USD 392.64 million in 2024 and grow at a CAGR of 4.67% to reach USD 493.17 million by 2029.

In 2024, the Commercial Aircraft Floor Panels Market size is expected to reach USD 392.64 million.

The Gill Corporation, Collins Aerospace (RTX Corporation), Triumph Group, Inc., Singapore Technologies Engineering Ltd and Lufthansa Technik AG are the major companies operating in the Commercial Aircraft Floor Panels Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Commercial Aircraft Floor Panels Market.

In 2023, the Commercial Aircraft Floor Panels Market size was estimated at USD 374.30 million. The report covers the Commercial Aircraft Floor Panels Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Commercial Aircraft Floor Panels Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Commercial Aircraft Floor PanelsIndustry Report

Statistics for the 2024 Commercial Aircraft Floor Panels market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Commercial Aircraft Floor Panels analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Commercial Aircraft Floor Panels Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)