GVR Report cover Aerospace Floor Panels Market Size Report

Aerospace Floor Panels Market Size Analysis Report By Raw Material (Nomex Honeycomb, Aluminum Honeycomb), By Aircraft Type (Narrow body, Wide body, VLA), By End Use, By Region, And Segment Forecasts, 2018 - 2025

  • Report ID: GVR-2-68038-285-3
  • Number of Report Pages: 105
  • Format: PDF, Horizon Databook
  • Historical Range: 2014 - 2016
  • Forecast Period: 2017 - 2025 
  • Industry: Advanced Materials

Industry Insights

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 the 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 honeycomb. These raw materials are used to manufacture panels that find application in military, commercial, and business aircraft.

U.S. aerospace floor panels market

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 aircraft. The U.S. government has made efforts to increase its defense budgets in order to expand its fleet of aircraft and ships. This will eliminate the sequester, which is likely to result in higher defense spending.

With the rise in global tension, demand for military and defense products is increasing in North Korea, Eastern Europe, the Middle East, and the 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.

Aerospace and defense companies are investing heavily to develop products and components with improved operational performance, thereby resulting in the adoption of high-performance composites and similar materials. Countries such as China, the U.S., and UAE have increased their defense spending in recent times, owing to the rising incidences of security challenges and threats. Administration bodies in the U.S. have taken initiatives to strengthen the U.S. military by adding new and advanced defense aircraft and ships to their fleet.

The regulatory framework for these panels is governed by the Toxic Substances Control Act of 1976 (TSCA), the Comprehensive Environmental Response, Compensation, and Liability Act (CERLA), Workplace Hazardous Materials Information System (WHMIS), and the Resource Conservation and Recovery Act (RCRA), among others. These specify the chemical and physical dangers of various types of honeycombs and their general requirements for storage and use of concerning raw materials.

Raw Material Insights

Nomex honeycomb, aluminum honeycomb, and titanium honeycomb are major raw material sources used for manufacturing aerospace floor panels. Prices of these raw materials are expected to have a significant impact on the production cost of floor panels used in aircraft. Panel manufacturers have entered into contracts with aircraft manufacturers to supply these products for specific businesses.

Nomex honeycomb accounted for 71.0% of the global market in 2016. This lightweight material has a wide application scope owing to its high specific strength and stiffness. Also, they are compatible with most adhesives, present fire-resistant (self-extinguishing), corrosion-resistant, have excellent dielectric properties, are thermally insulating, and have good thermal stability. These properties have made it a preferred choice in manufacturing such panels.

Aircraft Type Insights

Aerospace floor panels are used in all types of aircraft such as narrow-body aircraft, wide-body aircraft, and very large aircraft, and find use in commercial, military, and business applications.

Narrow-body aircraft accounted for 70.5% of the global aerospace floor panels market in 2016. These aircraft are widely used across the globe for short-haul operations and short distances on both domestic and international routes. In addition, these aircraft are manufactured for intense operations with quick turnaround times at airports and for high flight density. Furthermore, maintenance, navigation, and other expenses can be up to 1.5-2 times lower than wide-body aircraft.

The wide-body aircraft segment is expected to register the fastest growth in the industry over the forecast years. In regions such as Asia Pacific, Europe, and North America, air passenger traffic has been increasing with time. Thus, instead of operating many small airplanes, a larger one that can carry many passengers at once is preferred. This trend is expected to propel the demand for wide-body aircraft over the forecast period.

End-use Insights

Commercial aviation was the largest end-use segment, accounting for 59.4% of the global revenue in 2016. Air passenger traffic has been increasing consistently over the years and this trend is expected to continue over the forecast period. Passenger traffic is increasing year over year, supported by increasing deliveries from manufacturers. Also, an increase in the number of routes that connect various cities has facilitated air passenger traffic in the region.

In addition, travel between business hubs such as London and New York has seen an increase over the years owing to the expansion of businesses by MNCs. The growth of the aerospace industry in countries such as India and China is expected to propel the demand for these panels. In addition, tourism activities in these regions have been increasing over the recent past and are expected to continue rising over the forecast period as well. Travel airfares to regions such as India are cheaper and thus are preferred tourist destinations.

Regional Insights

Asia Pacific dominated the market for aerospace floor panels in terms of revenue in 2016 at a size of USD 131.4 million. This region is projected to expand at a CAGR of 6.7% from 2017 to 2025. Increasing demand for various types of aircraft in countries such as India and China is expected to propel market growth over the forecast period.

Global aerospace floor panels market

Positive political activities such as improved trade relations between India and China have facilitated business growth in these countries, thus, leading to an increased number of meetings and travel between these nations. In addition, tourism activities in these regions have been increasing over the past few years, and this trend is expected to continue over the forecast period. Airfares to travel to regions such as India are cheaper and thus, are preferred tourist destinations. This is expected to increase air passenger traffic in this region, thereby boosting industry growth over the forecast period.

Aerospace Floor Panels Market Share Insights

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.

Companies are emphasizing partnerships, new product development, and M&As with key players to increase their share and strengthen their competitive abilities. Major aircraft manufacturers such as The Boeing Company, Airbus, Lockheed Martin, Bombardier Aerospace, and Gulfstream Aerospace account for a major share in terms of consumer base and end-use.

Report Scope



Base year for estimation


Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation                                

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., U.K., Germany, China, India, Japan, Brazil, UAE, Saudi Arabia

Report coverage        

Revenue forecast, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global aerospace floor panels market report on the basis of raw material, aircraft type, end use, and region:

  • Raw Material Outlook (Revenue, USD Million, 2014 - 2025)

    • Nomex honeycomb

    • Aluminum honeycomb

    • Others

  • Aircraft Type Outlook (Revenue, USD Million, 2014 - 2025)

    • Narrow body aircraft

    • Wide body aircraft

    • Very Large Aircraft(VLA)

  • End-use Outlook (Revenue, USD Million, 2014 - 2025)

    • Commercial aviation

    • Military aircrafts

    • Business jets

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • The U.S.

    • Europe

      • The U.K.

      • Germany

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • UAE

      • Saudi Arabia

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