San Francisco, 17 September
2018: According to a report published by Grand View Research,
Inc.; the aerospace
floor panels market is likely to reach a valuation of around USD
554.4 million by 2025.
Factors such as growing
aerospace industry, increasing air passenger traffic, and growing expenditure
for defense can propel the market during the forecast period (2014 to 2025).
Technological advancements in
aerospace sector is likely to boost the market growth in the coming years.
Several research agencies have been conducting research and development
(R&D) activities and are making high investments in these floor panels.
This is expected to create positive outlook for the market. In addition, technological developments
associated with honeycombs have assist to discover new approaches for
manufacturing lightweight and high-strength honeycomb cores.
Access
Research Report of Aerospace
Floor Panels Market@ www.grandviewresearch.com/industry-analysis/aerospace-floor-panels-market
Worldwide aerospace floor
market can be divided into raw material, aircraft type, end-use, and region. As
per raw material, the market can be bifurcated into aluminum honeycomb, Nomex
honeycomb, and others. In 2016, Nomex honeycomb segment estimated for 71.0% of
the overall market. These materials are lightweight and comprises variety of applications
due to its better strength and stiffness. The material is also compatible with
several adhesives and are thermally insulating. These materials are
corrosion-resistant, self-extinguishing, and possess outstanding dielectric
properties. Based on aircraft type, the market can be split into narrow body
aircraft, wide body aircraft, and very large aircraft (VLA). The military
aircraft segment is expected to expand with the fastest CAGR of 7.2% in terms
of revenue during 2017 to 2025 due to growing expenditure for defense. In 2016,
Narrow body aircraft segment captured 70.5% of the overall market.
These aircraft are extensively
used for short-haul operations. Growing use of these planes for domestic
transport is anticipated to support the growth. The wide body aircraft segment
is anticipated to show rapid growth during the forecast period. These aircraft
are extensively designed for carrying several passengers instead of operating
many small planes. The segment is likely to grow with increasing air passenger
traffic in regions including Europe, North America, and Europe. On the basis of
end-use, the market can be classified into business jets, commercial aviation,
and military aircraft. In 2016, commercial aviation segment estimated for the
largest market revenue share of 59.4%. Increasing number of air passenger is
driving the growth of this segment. This trend is also likely to continue
during the forecast period.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/advanced-materials
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Central & South
America, and Middle East & Africa.
Asia Pacific is likely to
display substantial growth during the forecast period due to growing demand for
different air crafts in China and India. The region is expected to grow at CAGR
of 6.7% during 2017 to 2025. This growth can be associated with robust growth
in air traffic and increasing defense spending in the region specially, in
countries including China and India. Optimistic political events like better
trade relation between China and India have supported the business growth in
these countries, thus increased the number of air travel for business purpose.
Additionally, growing tourism activities in these countries is also expected to
increase the number of air passenger. In emerging countries such as India,
airfares are comparatively affordable, therefore it is most favorite tourist
destinations among the visitors.
North America is considered as
one of the attractive markets. The U.S. market is expected to grow at a CAGR of
5.9% during 2017 to 2025. The aerospace sector in the region is anticipated to
increase demand for defense aircrafts in the coming years. Since the U.S
government is taking efforts to increase the defense expenditure for expanding
their capabilities with advanced defense aircrafts and ships.
Prominent players operating in
the market include The Nordam Group Inc.; Rockwell Collins Inc.; AIM Aviation
Ltd.; Triumph Group Inc.; and Zodiac Aerospace. Market participants are mainly
focusing on new product development, partnerships, and merger and acquisition
with other players to increase their share in the market.
Access
Press Release of Aerospace Floor Panels Market@ www.grandviewresearch.com/press-release/global-aerospace-floor-panels-market
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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