Commercial Segment to Dominate SAM Aircraft Floor Panel Market during 2019–2027
According to The Insight Partners market research study on “SAM Aircraft Floor Panel Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Aircraft Type, Material Type, Sales Channel, and End User,” is expected to reach US$ 120.69 million by 2027 from US$ 78.63 million in 2019. The market is estimated to grow at a CAGR of 7.1 % from 2020 to 2027. The report provides trends prevailing in the SAM aircraft floor panel market along with the drivers and restraints pertaining to the market growth. Mounting demand for air freighter fleet and escalation in the adoption of wide body jets and business jets are the major factor driving the growth of the SAM aircraft floor panel market. However, halt of A380 program and Boeing’s complications from B737 max hinder the growth of SAM aircraft floor panel market.
In case of COVID-19, Brazil has the highest number of cases, followed by Peru, Chile, Colombia, and Ecuador, among others. SAM's government has taken an array of actions to protect their citizens and contain COVID-19's spread. Brazil is the largest spender in the aerospace industry and is the only modern aircraft manufacturing country in the region. Owing to this, the demand for components and parts is at an all-time high in the country. In addition, the majority of the components are imported from the US, China, and European countries. The slowdown in commercial and military aircraft production in the country has impaired the supply chain in Brazil. This has weakened the demand for several components, including aircraft floor panels. Thus, the outbreak of COVID-19 has had a harsh impact on the SAM aircraft floor panels market, especially in Brazil.
The SAM market for aircraft floor panel is segmented into aircraft type, material type, sales channel, end user, and country. Based on aircraft type, the market is segmented into wide body aircrafts, narrow body aircrafts, and general aviation. The narrow body aircrafts segment got the highest share of the market in 2019 and wide body aircrafts is expected to be fastest growing segment during forecast period. Based on material type, the market is divided into the aluminum honeycomb and nomex honeycomb. The nomex honeycomb segment led the market in 2019 and is expected to be fastest growing during forecast period. Based on the sales channel, the market is segmented into OEM and aftermarket. The OEM segment got the highest share of market in 2019 and is expected to be fastest growing during forecast period. Based on end user, the market is divided into commercial and military. Commercial segment dominates the market in 2019 and is expected to be fastest growing during forecast period.
Aim Altitude UK Ltd.; Collins Aerospace, a Raytheon Technologies Corporation company; Euro Composite S.A.; Safran S.A; Singapore Technologies Engineering Ltd; The Gill Corporation are among the leading companies in the SAM aircraft floor panel market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Collins Aerospace Systems, a Raytheon Technologies Corporation company opened a new 15,000 square ft. facility in Singapore to improve maintenance, repair and manufacturing capabilities.
The report segments the SAM Aircraft Floor Panel Market as follows:
SAM Aircraft Floor Panel Market – By Aircraft Type
- Wide Body Aircrafts
- Narrow Body Aircrafts
- General Aviation
SAM Aircraft Floor Panel Market – By Material Type
- Aluminum Honeycomb
- Nomex Honeycomb
SAM Aircraft Floor Panel Market – By Sales Channel
- OEM
- Aftermarket
SAM Aircraft Floor Panel Market – By End User
- Commercial
- Military
SAM Aircraft Floor Panel Market – By Country
- Brazil
- Rest of SAM
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