The "Europe Aircraft Floor Panel Market Forecast to 2027 COVID-19 Impact and Regional Analysis by Aircraft Type, Material Type, Sales Channel, and End User" report has been added to ResearchAndMarkets.com's offering.
The Europe aircraft floor panel market is expected to grow from US$ 186.63 million in 2019 to US$ 325.57 million by 2027; it is estimated to grow at a CAGR of 9.7% from 2020 to 2027.
Highlighting aircraft orders and delivery volumes are expected to boost the growth of the Europe aircraft floor panel market. The Europe aviation industry is undergoing expansion at a rapid pace, recording significant production volumes and deliveries of aircraft (commercial and military) fleet. Specifically, the commercial aviation industry has witnessed tremendous growth in the past few years with the emergence of new low cost carriers and fleet expansion strategies adopted by the full service carriers. Further, commercial aviation is foreseen to surge in the coming years owing to the mounting number of air travel passengers and aircraft procurement. This surge in aircraft production is boosting the demand for aircraft floor panels across Europe.
Owing to continuously rising production volumes to bridge the gap between demand and supply of aircraft, the OEMs are increasingly procuring large volumes of aircraft floor panels. In the current scenario, the demand for both wide body and narrow body aircraft fleet is high. However, the inclination toward long-range, narrow body type is increasing as the majority of commercial aviation companies across Europe are focusing on increasing fleet size along with lowering operational costs. Rise in aircraft production due to surge in number of passengers is expected to increase the demand for floor panels, thereby driving the Europe aircraft floor panel market.
Europe, especially the UK, is highly affected due to the COVID-19 outbreak. The European aviation industry is composed of aircraft OEMs, component suppliers, airlines, and MRO service providers. The COVID-19 outbreak has affected each aviation business stakeholder's business in the region. Several airlines in the region have postponed the pending aircraft fleet's procurement dates to manage their current operational costs during COVID-19 times and post-COVID-19 times. This has led the aircraft OEMs and component suppliers to suffer economic loss. This factor has had a negative result on the European aircraft floor panel market players. From the commercial aviation perspective and MRO perspective, several airlines have grounded a notable number of fleets with an aim to drive their business with the remaining fleet as the passenger count has drastically reduced across the region. Apart from this factor, the ban on air travel had forced the airlines and corporate jets to temporarily cease their operations, thereby lowering the MRO shop visits, resulting in the procurement of lesser volumes of aircraft floor panels and other components MRO facilities. This parameter also affected the aircraft floor panels market.
Based on material type, the nomex honeycomb segment led the Europe aircraft floor panel market in 2019. Presently, nomex honeycomb floor materials is one of the most common materials used in aircraft structures with good electrical insulating properties. It possesses outstanding high impact strength and performs excellently on the food cart roller test in the aircraft. Rise in demand for light-weight, tough, and corrosion and heat resistant products boosts the use of reliable components made from nomex honeycomb in aerospace defense applications. The properties of this material result in low maintenance costs and emissions as compared to other traditional materials that are used for manufacturing aircraft.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe aircraft floor panel market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Europe aircraft floor panel market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the aircraft floor panel market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Market Dynamics
Drivers
- Highlighting Aircraft Orders and Delivery Volumes
- Rising Emphasis on Use of Lightweight Materials
Restraint
- Boeing's Issue from B737 Max and Stoppage of A380 Program
Opportunities
- Increase in Adoption of Wide-Body Jets and Business Jets
Trend
- Growth in the Demand for Air Freighter Fleet
Companies Mentioned
- Aeropair Ltd
- Aim Altitude UK Ltd.
- Avcorp Industries Inc.
- Collins Aerospace, a Raytheon Technologies Corporation company
- Euro Composite S.A.
- Safran S.A
- Singapore Technologies Engineering Ltd
- The Gill Corporation
- The Nordam Group LLC
For more information about this report visit https://www.researchandmarkets.com/r/74uhqt
View source version on businesswire.com: https://www.businesswire.com/news/home/20210128005724/en/
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