What is the future of Aircraft Interior Sandwich Panel Market? Know Covid Impact on Size, Share & Forecasts
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Interior Sandwich Panel Market.
It was estimated prior to this unanticipated outbreak that the Aircraft Interior Sandwich Panel Market reach US$ 1,367.6 million in 2025. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Aircraft Interior Sandwich Panel Market Segment Insights:
By Aircraft Type:
Narrow-body aircraft is estimated to maintain its unassailable lead in the market in the foreseeable future. The aircraft body type is likely to make the fastest comeback with the resumption of domestic air travel in various parts of the world. The market entry of COMAC C919 and Irkut MC-21 is likely to further substantiate the demand in the years to come.
By Application Type:
The aircraft interior sandwich panel market is segmented as floor panel, sidewall panel, ceiling panel, stowage bin panel, galley panel, lavatory panel, and others. Floor panel is estimated to maintain its lead in the market over the next five years, propelled by thicker panels used in the floor as it is more prone to load and impact, coupled with increasing demand for panels in the aftermarket.
By Core Material Type:
The market is segmented as nomex honeycomb, aluminum honeycomb, and others. Nomex honeycomb addresses most of the prerequisites of the aircraft interior applications, such as high mechanical property and high FST performance. Excellent strength-to-weight ratio; an excellent corrosion resistance against water, oil, and fuel; high-temperature capabilities; easy formability; and good dielectric properties are other advantages.
By End-User Type:
The market is segmented as OE and aftermarket. The OE segment held a larger share of the market in 2019. Commercial aircraft (narrow-body, wide-body, and very large-body aircraft) account for most of the OE as well as aftermarket demand for sandwich panels. 800+ airlines are active worldwide, generating a strong replacement demand for sandwich panels. North America is the workhorse for the OE market, whereas Asia-Pacific is for the aftermarket.
By Region:
North America is expected to remain the largest market over the next five years. The region is holding the largest fleet of regional aircraft and general aviation, ensuring strong retrofit demand. Resumption of production of B737 Max at a low rate, with gradual plans to ramp-up production, further contributes to the demand for sandwich panels in the region. Asia-Pacific to be the fastest-growing market in the post-pandemic scenario, driven by China, Japan, and India.