Aircraft Floor Panel Market accounted for US$ 649.35 million in the year 2024 and is expected to grow at a CAGR of 6.8% during the period 2022 - 2030, to account for US$ 1,027.23 million in the year 2031.

The global aircraft floor panel market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). The global air passenger traffic is rising at a constant pace, which has forced the airlines to increase their flight movements and introduce new aircraft. The aircraft floor panel market involves the manufacturing and supply of panels used in the construction and design of aircraft floors. These panels play a crucial role in ensuring structural integrity, safety, and comfort within the aircraft, and they are designed to withstand various stresses, vibrations, and environmental conditions.

Airline operators depend on MRO services to ensure the safety of the aircraft and enhance fuel efficiency. The aircraft floor panel market is mainly driven by the increasing demand for aircraft MRO services and rising aircraft sales worldwide. Aircraft MRO spending reached US$ 104 billion in 2024 and is predicted to reach US$ 124 billion by 2034. The aircraft MRO service companies are using lightweight aircraft floor panels to enhance aircraft fuel efficiency.

APAC is anticipated to witness growth in the aviation industry, particularly in India and China. The government of China and various organizations are focused on building new airports. For instance, the Civil Aviation Administration of China (CAAC) aims to build 216 new airports by 2035 to meet the growing demands for air travel, which will fuel the aircraft floor panel market growth. In the near future, Singapore, Malaysia, and other countries in the Rest of APAC are likely to be the major global markets for aircraft floor panels. The aviation industry in Asia Pacific is a pivotal contributor to its social and economic development. Numerous global players are expanding their MRO facilities across APAC. For instance, in July 2022, Safran AB (one of the leading suppliers of key aircraft components, including landing gear, wheels and brakes, and wiring) announced an investment of US$ 305 million in India to expand its MRO activities in the region.

The Europe aircraft floor panels market is growing at a rapid pace. The market growth can be attributed to increasing air travel and rising use of MRO services with growing flying hours. Furthermore, the market in Europe is shaped by various inorganic strategies employed by market players, such as partnerships. These collaborations help establish relationships with other suppliers and enable companies to strengthen their market position. The expansion of MRO service offerings by major players in Europe is expected to create ample opportunity for the aircraft floor panel market during the forecast period. For instance, in October 2024, Revima, an independent MRO provider, launched MRO services in Europe.

The markets in the Middle East and Africa and South America is growing owing to increasing investment by the airlines to procure new aircraft. For instance, in September 2024, Brazil's airline Total Linhas Aereas, a small cargo and charter airline, procured C919 aircraft from China's COMAC. Further, in May 2024, Saudi Arabia's airline placed an order for 105 Airbus airplanes. The order consists of 12 A320 Neo and 93 A321 Neo aircraft. These aircraft consist of The Gill Corporation's aluminum honeycomb and composite honeycomb aircraft floor panels.

Aircraft Floor Panel Market: Competitive Landscape and Key Developments

Singapore Technologies Engineering Ltd, Collins Aerospace, Safran SA, Triumph Group Inc, Latecoere SA, The Gill Corporation, Nordam Group LLC, Aeropair Ltd., The Boeing Co., VINCORION Advanced Systems GmbH, JCB Aero, Jones Metal Products, Geven Spa, LMI Aerospace, Eco Earth Solutions, and Euro Composite SA are among the key Aircraft Floor Panel Market players profiled during this study. In addition, several other important Aircraft Floor Panel Market players have been studied and analyzed during the study to get a holistic view of the Aircraft Floor Panel Market and its ecosystem.