The SAM aircraft floor panel market is expected to grow from US$ 78. 63 million in 2019 to US$ 120. 69 million by 2027; it is estimated to grow at a CAGR of 7. 1% from 2020 to 2027. Escalation in adoption of wide body jets and business jets is expected to accelerate the SAM aircraft floor panel market.
New York, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "South America Aircraft Floor Panel Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Aircraft Type, Material Type, Sales Channel, and End User" - https://www.reportlinker.com/p06004227/?utm_source=GNW
The wide body jets are foreseen to be concreting the future of the aviation industry, with the mounting number of orders for the new-generation wide body jets. The demand for A330 series, A350 series, B777 series, and B787 series models of wide body jets is currently greater than other models; these aircraft models are fuel-efficient and feature a longer range and higher endurance. These factors attract a substantial number of full service carriers and low cost carriers, which boosts the order and shipment volumes. This further catalyzes the demand for aircraft floor panels among the aircraft manufacturers for the SAM region. The A330 series aircraft model is one of the largest aircraft in the Airbus product list, and the demand for the same is foreseen to continue to rise among various airlines across the SAM region. Being one of the largest aircraft models, this aircraft incorporates greater number of aircraft floor panels, and thus, the surge in its production increases the adoption of flooring panels. The projected rise in demand for such large aircraft is expected to boost the growth of the SAM aircraft floor panel market during the forecast period. Business jets or corporate jets are also in great demand due to mounting international trade and businesses, increasing the extent of travel of managerial executives to various countries across the SAM region. Advantages of wide body jets and business jets, such as fuel efficiency, longer range, and higher endurance, are expected to increase their demand, which would further increase the demand for floor panels, thereby driving the SAM aircraft floor panel market.
Brazil has the highest number of cases in the region, followed by Peru, Chile, Colombia, and Ecuador.Governments in the region have 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.
Based on end user, the commercial segment led the SAM aircraft floor panel market in 2019.To enhance the passenger comfort and safety in the aircraft, the need for aircraft floor panels that are fire retardant, lightweight, and thermally conductive (which can be controlled externally with a central aircraft unit) is rising, which would positively impact the aircraft floor panel market in the SAM region during the forecast period.
In SAM region, commercial airline forecasts remain strong, which would directly make a positive impact on SAM aircraft floor panel market.Also, it is likely to offer new opportunities for aircraft panel market players in the SAM region.
Demographic shifts in developing economies are likely to offer considerable additional demand, especially in SAM.Moreover, the aircraft fleet size across commercial industry is also increasing, and this would require more maintenance services and replacement of old floor panels, which would additionally promote the growth of the SAM aircraft floor panels market over the forecast period.
Aircraft floor panels are fire retardant, lightweight, and thermally conductive. These features are expected to increase their demand from commercial industry, thereby driving the SAM aircraft floor panel market.
The overall SAM aircraft floor panel market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the SAM aircraft floor panel market.
The process also serves the purpose of obtaining overview and forecast for the SAM aircraft floor panel market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts, such as VPs, business development managers, aircraft floor panel market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the SAM aircraft floor panel market. Aim Altitude UK Ltd.; Collins Aerospace, a Raytheon Technologies Corporation company; Euro Composite S.A.; Safran S.A; Singapore Technologies Engineering Ltd; and The Gill Corporation are among a few players operating in the SAM aircraft floor panel market.
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