Asia Pacific Aircraft Floor Panel Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The Asia Pacific aircraft floor panel market is projected to grow significantly, reaching approximately US$ 265.69 million by 2031, up from US$ 166.72 million in 2024, with an estimated compound annual growth rate (CAGR) of 6.9% during the period from 2024 to 2031.

Executive Summary and Market Analysis

The Asia Pacific region is experiencing rapid growth in the aircraft floor panel market, driven by the increasing demand for air travel and new aircraft. The aviation sector in this area plays a crucial role in social and economic development, largely due to a diverse range of income levels and a burgeoning middle class. Countries like India, Japan, and China are witnessing robust aircraft sales, which is expected to create substantial opportunities for aircraft manufacturers and maintenance, repair, and overhaul (MRO) service providers.

Government investments in procuring new military and commercial aircraft are on the rise, with a notable demand for medium and large long-range aircraft, such as the A330 neo and A350. As of November 2024, the demand for these aircraft in the Asia Pacific region was estimated at around 3,500 units. Furthermore, the Airbus Asia Pacific regional president has indicated that over 19,500 aircraft will be needed by 2043, highlighting the growing opportunities for the aircraft floor panel market.

The demand for aircraft floor panels is closely linked to the expansion of MRO services in the region. Major global players are enhancing their MRO capabilities in Asia Pacific. For example, in July 2022, Safran AB announced a US$ 305 million investment in India to expand its MRO operations, including a significant facility in Hyderabad. Similarly, in February 2023, Collins Aerospace invested over US$ 27 million to expand its MRO operations in Xiamen, China, and Selangor, Malaysia, further increasing the demand for aircraft components, including floor panels.

The Asia Pacific region has seen a surge in the import of advanced commercial aircraft, driven by a rise in international travel in countries like India, China, Japan, and Taiwan. The increasing number of aircraft and airports is expected to boost the demand for aircraft floor panel products during the forecast period, with the region anticipated to account for approximately 40% of future airline production.

Market Segmentation

The Asia Pacific aircraft floor panel market can be segmented by aircraft type, material type, application, and end use:

By Aircraft Type: The market is divided into narrow body aircraft, wide body aircraft, general aviation, and others, with narrow body aircraft holding the largest market share in 2024.
By Material Type: The market is categorized into aluminum honeycomb and Nomex honeycomb, with Nomex honeycomb leading in market share in 2024.
By Application: The market is split into commercial aviation and military aviation, with commercial aviation dominating in 2024.
By End Use: The market is divided into OEMs and aftermarket, with the aftermarket holding a larger share in 2024.

Market Outlook

According to industry analysis, the global commercial aircraft fleet was over 28,395 in 2024, with projections indicating it will exceed 36,400 by 2034. The Asia Pacific region is expected to see significant growth, with the commercial aircraft fleet size anticipated to grow from 8,653 in 2024 to approximately 11,582 by 2034. The increasing fleet size will create new opportunities for aircraft component suppliers, including manufacturers of aircraft floor panels.

Country Insights

The Asia Pacific aircraft floor panel market includes key countries such as China, Japan, India, Australia, and South Korea, with China holding the largest market share in 2024. The commercial aviation sector in China is expanding rapidly, leading to increased orders for modern aircraft. MRO activities are also shifting towards Asia Pacific, with India and China emerging as significant MRO centers. For instance, MTU Maintenance Zhuhai has expanded its facilities to accommodate the growing demand for narrow body engines.

Company Profiles

Key players in the aircraft floor panel market include Singapore Technologies Engineering Ltd, Collins Aerospace, Safran SA, Triumph Group Inc, and The Boeing Co, among others. These companies are focusing on strategies such as expansion, product innovation, and mergers and acquisitions to enhance their market presence and offer innovative products to consumers.

Product Code: TIPRE00017243

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macroeconomic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country-level data:

4. Asia Pacific Aircraft Floor Panel Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Buyers
- 4.2.2 Bargaining Power of Suppliers
- 4.2.3 Threat to New Entrants
- 4.2.4 Threat to Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Aircraft Floor Panel Suppliers
- 4.3.3 End Users
- 4.3.4 List of Vendors in the Value Chain

5. Asia Pacific Aircraft Floor Panel Market - Key Market Dynamics

5.1 Drivers:
- 5.1.1 Growing Number of General Aviation Aircraft and Helicopter Deliveries
- 5.1.2 Rising Number of Orders and Production of Narrow Body Aircraft
5.2 Restraints:
- 5.2.1 Increase in Geopolitical Events to Hinder Supply Chain of Aircraft Components
5.3 Opportunities
- 5.3.1 Surge in Global Aircraft Fleet Size
- 5.3.2 Upcoming Aircraft Deliveries
5.4 Future Trends:
- 5.4.1 Usage of Lightweight Materials
- 5.4.2 Retrofitting of Older Aircraft Fleet
5.5 Impact of Drivers and Restraints:

6. Aircraft Floor Panel Market - Asia Pacific Market Analysis

6.1 Asia Pacific Aircraft Floor Panel Market Revenue (US$ Million), 2021-2031
6.2 Asia Pacific Aircraft Floor Panel Market Forecast Analysis

7. Asia Pacific Aircraft Floor Panel Market Analysis - by Aircraft Type

7.1 Narrow Body Aircraft
- 7.1.1 Overview
- 7.1.2 Narrow Body Aircraft: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Wide Body Aircraft
- 7.2.1 Overview
- 7.2.2 Wide Body Aircraft: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.3 General Aviation
- 7.3.1 Overview
- 7.3.2 General Aviation: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.4 Others
- 7.4.1 Overview
- 7.4.2 Others: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. Asia Pacific Aircraft Floor Panel Market Analysis - by Material Type

8.1 Aluminum Honeycomb
- 8.1.1 Overview
- 8.1.2 Aluminum Honeycomb: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 Nomex Honeycomb
- 8.2.1 Overview
- 8.2.2 Nomex Honeycomb: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)

9. Asia Pacific Aircraft Floor Panel Market Analysis - by Application

9.1 Commercial Aviation
- 9.1.1 Overview
- 9.1.2 Commercial Aviation: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.2 Military Aviation
- 9.2.1 Overview
- 9.2.2 Military Aviation: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)

10. Asia Pacific Aircraft Floor Panel Market Analysis - by End Use

10.1 OEMs
- 10.1.1 Overview
- 10.1.2 OEMs: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.2 Aftermarket
- 10.2.1 Overview
- 10.2.2 Aftermarket: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)

11. Asia Pacific Aircraft Floor Panel Market - Country Analysis

11.1 Asia Pacific
- 11.1.1 Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.1 Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.2 Australia: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.1.2.1 Australia: Asia Pacific Aircraft Floor Panel Market Share - by Aircraft Type
    - 11.1.1.2.2 Australia: Asia Pacific Aircraft Floor Panel Market Share - by Material Type
    - 11.1.1.2.3 Australia: Asia Pacific Aircraft Floor Panel Market Share - by Application
    - 11.1.1.2.4 Australia: Asia Pacific Aircraft Floor Panel Market Share - by End Use
  - 11.1.1.3 China: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.1.3.1 China: Asia Pacific Aircraft Floor Panel Market Share - by Aircraft Type
    - 11.1.1.3.2 China: Asia Pacific Aircraft Floor Panel Market Share - by Material Type
    - 11.1.1.3.3 China: Asia Pacific Aircraft Floor Panel Market Share - by Application
    - 11.1.1.3.4 China: Asia Pacific Aircraft Floor Panel Market Share - by End Use
  - 11.1.1.4 India: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.1.4.1 India: Asia Pacific Aircraft Floor Panel Market Share - by Aircraft Type
    - 11.1.1.4.2 India: Asia Pacific Aircraft Floor Panel Market Share - by Material Type
    - 11.1.1.4.3 India: Asia Pacific Aircraft Floor Panel Market Share - by Application
    - 11.1.1.4.4 India: Asia Pacific Aircraft Floor Panel Market Share - by End Use
  - 11.1.1.5 Japan: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.1.5.1 Japan: Asia Pacific Aircraft Floor Panel Market Share - by Aircraft Type
    - 11.1.1.5.2 Japan: Asia Pacific Aircraft Floor Panel Market Share - by Material Type
    - 11.1.1.5.3 Japan: Asia Pacific Aircraft Floor Panel Market Share - by Application
    - 11.1.1.5.4 Japan: Asia Pacific Aircraft Floor Panel Market Share - by End Use
  - 11.1.1.6 South Korea: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.1.6.1 South Korea: Asia Pacific Aircraft Floor Panel Market Share - by Aircraft Type
    - 11.1.1.6.2 South Korea: Asia Pacific Aircraft Floor Panel Market Share - by Material Type
    - 11.1.1.6.3 South Korea: Asia Pacific Aircraft Floor Panel Market Share - by Application
    - 11.1.1.6.4 South Korea: Asia Pacific Aircraft Floor Panel Market Share - by End Use
  - 11.1.1.7 Rest of APAC: Asia Pacific Aircraft Floor Panel Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.1.7.1 Rest of APAC: Asia Pacific Aircraft Floor Panel Market Share - by Aircraft Type
    - 11.1.1.7.2 Rest of APAC: Asia Pacific Aircraft Floor Panel Market Share - by Material Type
    - 11.1.1.7.3 Rest of APAC: Asia Pacific Aircraft Floor Panel Market Share - by Application
    - 11.1.1.7.4 Rest of APAC: Asia Pacific Aircraft Floor Panel Market Share - by End Use

12. Competitive Landscape

12.1 Heat Map Analysis
12.2 Company Positioning & Concentration

13. Industry Landscape

13.1 Overview
13.2 Market Initiative
13.3 Product Development

14. Company Profiles

14.1 Singapore Technologies Engineering Ltd
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
14.2 Collins Aerospace
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
14.3 Safran SA
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
14.4 Triumph Group Inc
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
14.5 Latecoere SA
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
14.6 The Gill Corporation
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
14.7 The Nordam Group LLC
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments
14.8 Aeropair Ltd
- 14.8.1 Key Facts
- 14.8.2 Business Description
- 14.8.3 Products and Services
- 14.8.4 Financial Overview
- 14.8.5 SWOT Analysis
- 14.8.6 Key Developments
14.9 The Boeing Co
- 14.9.1 Key Facts
- 14.9.2 Business Description
- 14.9.3 Products and Services
- 14.9.4 Financial Overview
- 14.9.5 SWOT Analysis
- 14.9.6 Key Developments
14.10 VINCORION Advanced Systems GmbH
- 14.10.1 Key Facts
- 14.10.2 Business Description
- 14.10.3 Products and Services
- 14.10.4 Financial Overview
- 14.10.5 SWOT Analysis
- 14.10.6 Key Developments
14.11 JCB Aero
- 14.11.1 Key Facts
- 14.11.2 Business Description
- 14.11.3 Products and Services
- 14.11.4 Financial Overview
- 14.11.5 SWOT Analysis
- 14.11.6 Key Developments
14.12 Jones Metal Products
- 14.12.1 Key Facts
- 14.12.2 Business Description
- 14.12.3 Products and Services
- 14.12.4 Financial Overview
- 14.12.5 SWOT Analysis
- 14.12.6 Key Developments
14.13 Geven spa
- 14.13.1 Key Facts
- 14.13.2 Business Description
- 14.13.3 Products and Services
- 14.13.4 Financial Overview
- 14.13.5 SWOT Analysis
- 14.13.6 Key Developments
14.14 LMI Aerospace
- 14.14.1 Key Facts
- 14.14.2 Business Description
- 14.14.3 Products and Services
- 14.14.4 Financial Overview
- 14.14.5 SWOT Analysis
- 14.14.6 Key Developments
14.15 Eco Earth solutions
- 14.15.1 Key Facts
- 14.15.2 Business Description
- 14.15.3 Products and Services
- 14.15.4 Financial Overview
- 14.15.5 SWOT Analysis
- 14.15.6 Key Developments
14.16 Euro Composite S.A.
- 14.16.1 Key Facts
- 14.16.2 Business Description
- 14.16.3 Products and Services
- 14.16.4 Financial Overview
- 14.16.5 SWOT Analysis
- 14.16.6 Key Developments

15. Appendix

15.1 About The Insight Partners