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 will reach US$ 1,730.8 million in 2024. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Aircraft Interior Sandwich Panel Market Segment Insights:
By Aircraft Type:
Narrow-body aircraft is expected to remain the largest segment of sandwich panel market in the aircraft interior applications during the forecast period of 2019 to 2024. Wide-body aircraft is likely to witness the highest growth during the same period. There is also a healthy demand for wide-body aircraft in the Middle-East region.
By Core Material Type:
Nomex honeycomb has been the perennial choice for a wide array of interior applications in the aerospace industry. All the major aircraft types including narrow-body and wide-body aircraft are heavily relying on this unique material. Nomex honeycomb offers enormous advantages over competing materials, such as lightweight, exceptional stiffness and strength, good corrosion resistance, good fire resistance, good thermal stability, and excellent dielectric properties.
By Material Type:
The OE is likely to remain the largest end-user type during the forecast period, driven by an increasing demand for commercial and regional aircraft across regions. Both the OE and aftermarket segments are likely to witness healthy growth rates over the next five years.
By Region:
North America is projected to remain the largest aircraft interior sandwich panel market during the forecast period. This region has been the pioneer in the aerospace industry with the presence of several small- to large-sized OEMs. Most of the aircraft manufacturers have manufacturing and assembly plants located in North America. Additionally, all the major sandwich panel manufacturers for the aerospace industry are in the region to support OEMs for the development of advanced products meeting emerging requirements of airlines.
Asia-Pacific is expected to witness the highest growth during the same period. Largest commercial aircraft fleet size; the gradual shift of manufacturing/assembly plants of OEMs; and upcoming indigenous commercial and regional aircraft, such as COMAC C919, ARJ21, and MRJ, fueled by increasing passenger traffic will continue to drive the Asia-Pacific’s market in the coming years.
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