Commercial Aircraft Floor Panels Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The narrow-body aircraft segment of the market is anticipated to register the highest CAGR during the forecast period. This growth is mainly due to the increasing orders and deliveries of narrow-body aircraft, like A220, A320, B737, etc., from various LCCs across the world, during the forecast period. The LCCs are currently expanding their fleets of narrow-body aircraft, as they can help in increasing the profits. With the increasing demand, the aircraft manufacturers are increasing their production capacities. This will result in an increased demand for assciated parts and components of aircraft. Moreover, the introduction of new models, like A321XLR, which have a higher range is gaining higher demand. A321XLR was introduced during the Paris AirShow 2019 and received 240 orders (expected entry into service by 2023). Additionally, new aircraft models like COMAC C919, MA700, MC-21 are anticipated to enter service during the forecast period. These aircraft are anticipated to further propel the growth of the market during the forecast period. However, the B737 MAX issues have dampened the Boeing’s narrow-body single-aisle jet orders. This has led to a decrease in the production rate of the B737 MAX aircraft, which is one of the main reasons affecting the revenues of the segment in 2019. With new certifications from FAA and EASA, the aircraft is anticipated to again enter service by early 2020. This re-entry is anticipated to further strengthen the narrow-body deliveries, which will support the growth of the segment over the next few years.