DUBLIN--(BUSINESS WIRE)--The "Asia Pacific 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 APAC aircraft floor panel market is expected to grow from US$ 109.99 million in 2019 to US$ 183.00 million by 2027; it is estimated to grow at a CAGR of 8.6% from 2020 to 2027.

Rising demand for air freighter fleet is expected to escalate the APAC aircraft floor panel market. The air freight business across the APAC region is surging at an exponential rate, thereby driving the orders and shipment of freighter aircraft models across APAC. The wide body freighters dominated the air freight industry over the years, thus boosting the procurement volumes of aircraft floor panels. The flooring of any freighter aircraft is manufactured with ultimate precaution and accuracy, as the floor panels need to carry heavier loads than passenger aircraft cargo compartments.

Moreover, the strength and rigidity of these floor panels is of utmost importance. Several cargo carriers are procuring narrow body freighters and are also converting the existing narrow body passenger aircraft to freighter aircraft. The Boeing B737 series aircraft fleet is also anticipated to experience strong demand for passenger-to-freighter conversion, which would allow several aircraft floor panel market players across APAC and aftermarket players to witness higher demand for their products and services. These developments would propel the APAC aircraft floor panel market in the coming years. The mounting demand for freighter aircraft - also leading to surge in passenger-to-freighter conversion - would escalate the need for suitable floor panels in the coming years, thereby driving the APAC aircraft floor panel market.

APAC, especially China and India, is highly affected due to COVID-19 outbreak. China is one of the leading aerospace manufacturing countries in the region and has been one of APAC's most affected country. Due to this, the manufacturing facilities have been witnessing severe conditions in aircraft and aircraft component manufacturing facilities. India, Japan, and South Korea are still combating the virus.

However, the countries have eased the lockdown measures, which is reflecting the restart of manufacturing facilities. Nonetheless, the remarkably lower volumes of air travel passengers have slowed down the demand for various components among the OEMs and aftermarket players regionally and internationally. This has been negatively affecting the aircraft floor panels market. Several airlines in the region have retired their wide body jets and narrow body jets, which were prime customers of aftermarket products and services. This factor is anticipated to inhibit the aircraft floor panel market for the next few months.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC 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 APAC 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 APAC 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

• Noticeable Aircraft Orders and Delivery Volumes
• Soaring Focus on Use of Lightweight Materials

Restraint

• Boeing's Problem from B737 Max and Termination of A380 Program

Opportunities

• Upsurge in the Adoption of Wide-Body Jets and Business Jets

Trend

• Rising Demand for Air Freighter Fleet

Companies Mentioned

• Aeropair Ltd
• Aim Altitude UK Ltd.
• Avcorp Industries Inc.
• Collins Aerospace, a Raytheon Technologies Corporation company
• Eco Earth solutions
• 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/e5e55o

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