Commercial Aircraft Floor Panels Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Commercial Aircraft Floor Panels Market is Segmented by Aircraft Type (Narrow-body Aircraft, Wide-body Aircraft, and Regional Aircraft) and Geography

Market Snapshot

commercial aircraft floor panels market overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >3.5 %

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Market Overview

The commercial aircraft floor panels market is anticipated to register a CAGR of more than 3.5% during the forecast period. 

  • The increasing demand for light-weight and fuel-efficient aircraft is generating the demand for new and advanced material floor panels, for installation onboard aircraft.
  • To improve the 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.
  • With increasing production rates of the current aircraft programs, the pressure on supply chain, especially on tier-1 providers is anticipated to increase. These increased production rates are anticipated to drive the profits of the players during the forecast period.

Scope of the Report

The study includes various types of floor panels provided for aircraft, made of aluminum honeycomb, Nomex honeycomb, glass fiber, epoxy resins, and other materials.

Aircraft Type
Narrow-body Aircraft
Wide-body Aircraft
Regional Aircraft
Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle-East & Africa
Saudi Arabia
United Arab Emirates
Qatar
Rest of Middle-East & Africa

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Key Market Trends

The 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 across the world, during the forecast period. The LCCs are currently expanding their fleets of narrow-body aircraft, as they can help in increasing the profits. With the increasing demand, the aircraft manufacturers are increasing their production capacities. This will result in an increased demand for assciated parts and components of aircraft. Moreover, the introduction of new models, like A321XLR, which have a higher range is gaining higher demand. A321XLR was introduced during the Paris AirShow 2019 and received 240 orders (expected entry into service by 2023). Additionally, new aircraft models like COMAC C919, MA700, MC-21 are anticipated to enter service during the forecast period. These aircraft are anticipated to further propel the growth of the market during the forecast period. However, the B737 MAX issues have dampened the Boeing’s narrow-body single-aisle jet orders. This has led to a decrease in the production rate of the B737 MAX aircraft, which is one of the main reasons affecting the revenues of the segment in 2019. With new certifications from FAA and EASA, the aircraft is anticipated to again enter service by early 2020. This re-entry is anticipated to further strengthen the narrow-body deliveries, which will support the growth of the segment over the next few years.

Commercial Aircraft Floor Panels_segment

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

Asia-Pacific region is expected to generate the highest demand for commercial aircraft floor panels market during the forecast period. The 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 also poised to replace the UK to become the third-largest aviation market in terms of domestic air passenger traffic over the next decade. Also, with an increasing emphasis on indigenous manufacturing capabilities, Aviation Industry Corporation of China and Mitsubishi Corporation are working on their new aircraft programs, namely, COMAC C919, MA700 and Mitsubishi Spacejet (MRJ). These new aircraft are anticipated to enter service by 2022. COMAC C919 has 815 orders (as of August 2019), MA700 has 285 orders (as of June 2019), and Mitsubishi Spacejet has 213 orders (as of June 2019). The majority of these orders are from airlines in the Asia Pacific, which is expected to fuel the demand for floor panels in the region during the forecast period.

Commercial Aircraft Floor Panels_geography

Competitive Landscape

The prominent players in the commercial aircraft floor panels market are The Gill Corporation, Triumph Group, Singapore Technologies Engineering Ltd., United Technology Corporation, and Avcorp Industries Inc. These players are the suppliers of floor panels on the majority of aircraft programs of Airbus and Boeing. For instance, in Boeing 787 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. In a few aircraft programs, the passengers and cargo floor panels will be installed with panels from different companies. Innovation and expansion of product portfolio are anticipated to provide companies a competitive edge over others. Also, long term contracts with aircraft OEMs are anticipated to support the growth of companies. For instance, in 2017, Triumph Group signed an agreement with Boeing to extend its partnership over the environmental control systems (ECS) ducting and floor panels on 737 (legacy and MAX), 767, 777X, and 787 airplanes for 10 years.  

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 Aircraft

    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 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 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 & 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 Rest of Middle-East & 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 United Technology Corporation

      3. 6.2.3 Triumph Group

      4. 6.2.4 Singapore Technologies Engineering Ltd

      5. 6.2.5 Avcorp Industries Inc.

      6. 6.2.6 Aeropair Ltd.

      7. 6.2.7 Elbe Flugzeugwerke GmbH

      8. 6.2.8 Vincorion

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Commercial Aircraft Floor Panels Market market is studied from 2018 - 2026.

The Commercial Aircraft Floor Panels Market is growing at a CAGR of >3.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

The Gill Corporation, Triumph Group, Singapore Technologies Engineering Ltd., United Technology Corporation, Avcorp Industries Inc. are the major companies operating in Commercial Aircraft Floor Panels Market.

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