Views:5 Author:Stratview Research Publish Time: 2017-09-06 Origin:CISION PR NEWSWIRE
Interior Sandwich Panel Market in the Global Aerospace Industry: Highlights
As per Stratview Research, the global aerospace interior sandwich panel market offers a healthy growth opportunity of 5.5% CAGR during the forecast period of 2017 to 2022 and reach an estimated $1.6 billion in 2022. The author of the report stated that Increasing production rates of the key commercial and regional aircraft, such as B737, B787, A320, A350XWB, and C Series; upcoming commercial and regional aircraft, such as Comac C919 and Mitsubishi MRJ; rising requirement of lightweight and durable products in interior applications fueled by the introduction of stringent government regulations related to fuel consumption and emission reduction; advancement in the technology; increasing global aircraft fleet size; and growing awareness to improve passenger experience are the major growth drivers of the market.
The research's findings suggest that narrow-body aircraft is expected to remain the largest segment of sandwich panel market in the aerospace interior applications during the forecast period of 2017 to 2022, whereas, wide-body aircraft is likely to witness the highest growth during the same period, driven by an increasing demand for wide-body aircraft, such as B787 and A350XWB, in the developing economies, such as China and India. There is also a healthy demand for wide-body aircraft in the Middle-East region.
In terms of 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 large number of advantages over competing materials, such as lightweight, exceptional stiffness and strength, good corrosion resistance, good fire resistance, good thermal stability, and excellent dielectric properties.
As per the study, North America is projected to remain the largest aerospace interior sandwich panel market during the forecast period. Most of the aircraft manufacturers have manufacturing and assembly plants located in North America. Additionally, all the major sandwich panel manufacturers have presence in the region to support OEMs for the development of advanced products meeting emerging requirements of airlines. However, Asia-Pacific is expected to witness the highest growth during the forecast period. The 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 market in the coming years.