Published Date : Feb 12, 2018
ALBANY, New York, February 12, 2018 –MarketResearchReports.biz has announced the addition of a new report “Aircraft Seating Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2026”, titled to its offering. The report on the global aircraft seating market offers elaborate evaluation of key growth drivers and restraints, factors driving the sales of prominent segments, lucrative prospects, and the key strategies adopted by various players to consolidate their positions. The study presents in-depth insights into the share and size of major segments and notable opportunities in prominent regions during the forecast period.
The global aircraft seating market is projected to rise at a robust CAGR of 12.9% from 2017 to 2026. The sales of aircraft seats will reach a worth of US$27.5 billion by the end of 2026.
The wide range of aircrafts where seating is used can be broadly categorized as small passenger widebody, narrowbody, medium/ large passenger widebody, regional jets, and turboprop. Of these, narrowbody aircrafts account for the leading uptake of airline seats. In 2017, seats for narrowbody aircrafts has collected a substantial revenue and its demand is expected to remain high throughout the assessment period. The various fit types can be majorly segmented as retrofit and linefit aircraft, of which the retrofitting is anticipated to account for a major revenue through the assessment timeline, while the latter will witness slump in demand.
World over, the rising volume of consumers inclined toward air travel is a potential factor stoking the demand for aircraft seating. A burgeoning number of air passengers, especially in countries of developing regions such as Asia Pacific, is a notable trend that will contribute to the rapidly rising demand for more and better aircraft seat. According to a data by The International Air Transport Association (IATA), the number of air passengers will surge from 3.8 billion in 2016 to 7.2 billion by 2035 end. Of note, a majority of them will come from emerging economies. With the air travel having become cheaper in recent years in various parts of the world, more number of consumers are adding to a ballooning air passenger.
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Manufacturers are increasingly using advanced composite materials and hybrid textiles in manufacturing of aircraft seats, which seeks to make the seating more comfortable and the production cost-effective. A consistent focus on enhancing the comfort level of air passengers is a crucial factor catalyzing the growth of the market. Coupled with this, stringent implementation of ensuring passenger safety has led producers to come with design innovations. The advent of ergonomically-designed seats is a prominent development expected to accentuate the market. Furthermore, the aircraft seating will benefit from the ease in the procurement of raw fabrics and advanced textile materials in various developing and developed regions.
The substantially rising demand for economy class seats is expected to aid in the rapid expansion of the aircraft seating market in the coming years. According to analysts the sales of economy class aircraft seats is anticipated to rise at an impressive CAGR during the forecast period.
Regionally, North America is a potentially lucrative market and is led by the U.S. and Canada. The region is projected to account for the dominant share of the global market in the first half of the assessment timeline. The growth of the regional market is fueled by a booming tourism and hospitality industry. Meanwhile, Asia-Pacific excluding Japan (APEJ) is anticipated to rise at a prominent pace and is likely to supersede North America by collecting a revenue of US$ 9 Bn by the end of 2026.
Several prominent manufacturers are focusing on designing functional and comfortable aircraft seats based on ergonomics, in a move to stay ahead of their competitors. Top players operating in the aircraft seating market include Thompson Aero Seating Ltd., Mirus Aircraft Seating, Acro Aircraft Seating, Geven S.p.A, JAMCO Corporation, Aviointeriors S.p.A, B/E Aerospace, Inc, Zodiac Aerospace Group, and RECARO Aircraft Seating GmbH & Co. KG.
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