Aerospace Floor Panels Market To Hit Value $554.4 Million By 2025 |Grand View Research, Inc.



The global aerospace floor panels market size is expected to reach USD 554.4 million by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 5.6% during the forecast period. The market is majorly driven by the growth of the aerospace industry, rising air passenger traffic, and increasing defense expenditure.
Key players in the global market for aerospace floor panels include Rockwell Collins Inc.; Zodiac Aerospace; Triumph Group Inc.; The Nordam Group Inc.; AIM Aviation Ltd.; EnCore Group; and The Gill Corporation. Aerospace floor panels manufactured by these companies are moved across the value chain with the help of distributors or are directly supplied to OEMs by manufacturers.
Aerospace floor panels are crucial products used for flooring in aircraft. They are manufactured using a number of raw materials including Nomex honeycomb and aluminum honeycomb. These raw materials are used to manufacture aerospace floor panels to be used in military, commercial, and business aircraft.
In terms of revenue, commercial aviation was the largest end-use segment for aerospace floor panels, accounting for 59.4% of the global market in 2016. Air passenger traffic has been increasing consistently over the years and this trend is expected to continue over the forecast period. Rising passenger traffic is supported by increasing deliveries from manufacturers. Also, increase in number of routes that connect various cities has facilitated the growth of air passenger traffic.
A large number of research agencies have been carrying out R&D activities and are increasing investments in aerospace floor panels field for several years now. Research has helped in discovering various benefits of using aluminum honeycomb for manufacturing these panels. Technological innovations involving honeycombs have led to discovery of new methods of manufacturing high-strength and lightweight honeycomb cores.
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https://www.grandviewresearch.com/industry-analysis/aerospace-floor-panels-market/request/rs4
Further key findings from the report suggest:
·         The military aircraft end-use segment will exhibit the fastest CAGR of 7.2% in terms of revenue from 2017 to 2025, on account of growing defense spending across the globe
·         By aircraft type, the narrow body segment emerged dominant in terms of revenue in 2016 and is estimated to reach a market size of USD 386.0 million by 2025. Rising adoption of these aircraft for domestic transport, where compact aircraft are preferred, is expected to drive growth
·         Asia Pacific is expected to witness significant growth over the forecast period, mainly on account of considerable growth in air traffic and defense spending, especially in India and China. In terms of revenue, this regional market is expected to exhibit a CAGR of 6.7% from 2017 to 2025
·         Key players such as Rockwell Collins Inc.; Zodiac Aerospace; Triumph Group Inc.; The Nordam Group Inc.; AIM Aviation Ltd.; EnCore Group; and The Gill Corporation dominated the industry.
The aerospace floor panels market was estimated at 341.2 million in 2016. Rising military expenditure across major economies of the world, in addition to robust growth of the aerospace industry, is expected to drive product demand over the forecast period. Furthermore, technological advancements in this sector will boost this market. Floor panels are crucial products used in all types of aircraft: narrow body, wide body, and very large aircraft (VLA).
The U.S. market for aerospace floor panels was estimated to be valued at USD 93.5 million in 2016 and is anticipated to expand at a CAGR of 5.9% from 2017 to 2025. Panels are manufactured using nomex honeycomb, aluminum honeycomb, titanium honeycomb, and thermoplastic honeycombs. These raw materials are used to manufacture panels that find application in military, commercial, and business aircrafts
A large number of research agencies have been conducting R&D activities and investments in this industry for several years. Research has proved the benefits of honeycomb materials and aerospace composites for the manufacture of aerospace floor panels. Some key methods used for manufacturing honeycomb panels are heated press and vacuum bag processing.
The aerospace sector has experienced increasing demand for defense aircrafts. The U.S. government has made efforts to increase their defense budgets in order to expand their fleet of aircraft and ships. This will eliminate sequester, which is likely to result in higher defense spending.
With rise in global tension, demand for military and defense products are increasing in North Korea, Eastern Europe, Middle East, and South and East China Seas. This, in turn, has resulted in increased military spending globally, most notably in UAE, Saudi Arabia, India, Japan, South Korea, and China. Many of these countries have started investing in advanced military aircraft to improve their military strength and portfolios.
Browse Press Release of this report:                                
https://www.grandviewresearch.com/press-release/global-aerospace-floor-panels-market
Grand View Research has segmented the global aerospace floor panels market on the basis of raw material, aircraft type, end use:
Aerospace Floor Panels Raw Material Outlook (Revenue, USD Million, 2014 - 2025)
·         Nomex honeycomb
·         Aluminum honeycomb
·         Others
Aerospace Floor Panels Aircraft Type Outlook (Revenue, USD Million, 2014 - 2025)
·         Narrow body aircraft
·         Wide body aircraft
·         Very Large Aircraft (VLA)
Aerospace Floor Panels End-use Outlook (Revenue, USD Million, 2014 - 2025)
·         Commercial aviation
·         Military aircraft
·         Business jets
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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