Opportunities in Aerospace Interior Market 2015-2020: Market Size, Market Share, Trend, and Forecast Analysis
According to a new market report published by Lucintel, the future of the aerospace interiormarket looks positive with opportunities in seating, inflight entertainment (IFE), galley, lavatory,stowage bin, and panels. The global commercial aerospace interior market is forecast to grow ata CAGR of 4.0% from 2015 to 2020. The major growth drivers of this market are increasingdeliveries of aircraft, replace and renovation of the aircraft interior and the increasing demand forthe customized Interior. Customized interior helps airlines to differentiate from the competitors onthe basis of interiors that act as a touch point of customer’s service, helping to distinguish onebrand from another.
In this market, seating, IFE (In Flight Entertainment), galley, lavatory, stowage bin, and panels areused in aircraft interior. Lucintel predicts that the demand for seating segment is likely toexperience the highest growth in the forecast period supported by increase in the aircraft delivery,increasing seating capacity of the aircraft and up-gradation of new seats in old aircraft. On thebasis of its comprehensive research, Lucintel forecasts that the seating and IFE segment areexpected to show above average growth during the forecast period.
Within the aerospace interior market, the seating segment will remain as the largest segmentbecause of increasing demand for thinner seats which reduces seat pitch value and provideadditional seats in the same area of an aircraft.
North America was the largest market, which held 30% of the total commercial aerospace interiormarket by value in 2014. Increase in number of aircraft delivery, air traffic rate and growth of theairline industry leading to the growth of commercial aerospace interior market.For market expansion, the report suggests innovation and new product development, where theunique feature of aerospace interior can be capitalized. The report further suggests thedevelopment of partnerships with customers to create win-win situations and the development ofperformance-driven solutions for end users.
Emerging trends, which have a direct impact on the dynamics of the industry, include theincreasing use of lightweight aerospace interior products/components, and increase in per-personspace allocation. Panasonic Avionics Corporation, Zodiac Aerospace, Thales Group, B/EAerospace, and Diehl are among the major suppliers of aerospace interior. Some companies areopting for M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed aerospaceinterior market by product type, by platform, and region and has come up with a comprehensiveresearch report, “Opportunities in Aerospace Interior Market 2015-2020: Market Size, MarketShare, Trend, and Forecast Analysis.” The Lucintel report serves as a springboard for growthstrategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the aerospace interior market through 2020, segmented byproduct type, by platform, and region as follows:
By product type (Value $ Million from 2009 to 2020)
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