Global Aircraft Seating Market - Growth, Trends, and Forecast (2018 - 2023)
Commercial airliners are increasingly choosing a particular category of seats, owing to the increased traffic being witnessed by aircrafts. High-traffic routes require compact seating and more seats in the economy class, whereas, the airline can include better seating configuration on routes that do not have high density. Another determining factor is the average paying capacity of the public traveling via a particular route. If the route is most frequented by business and HNWI-group travelers, airlines use wider seats with more legroom. The airline can make up for fewer seats by selling better seats at a much higher rate.
The global jet market is witnessing a high demand growth, however, the sales of commercial jets that represent the biggest chunk of market are limited, due to the supply crunch. This factor is expected to limit the growth of the cabin interior market, as the number of new airplanes entering the market is expected to accelerate at a slow rate, during the forecast period. Low cost carriers segment, which controls 1/4th of the total airline market share, is expected to accelerate rapidly and hold about 1/3rd of the share by 2023, owing to the full-service carriers. Thus, the seats for the economy class segment are anticipated to witness higher sales and growth rate, during the forecast period.
Increasing investments in cabin interior products are expected to be the major driver for the aircraft seating market, registering a CAGR of more than 11%, during the forecast period. Rising air traffic is the key factor driving the market growth. The growing demand for air travel has resulted in many companies developing innovative products in the IFEC space. Investment in cabin interior products and aircraft weight reduction are some of the major drivers for the aircraft seats market growth. A majority of the airline industry experienced growth in 2016, due to the plummeting prices of crude oil, which went below USD 30 per barrel for the first time in many years. Moreover, owing to the lower fuel costs, profit margins have soared that gave airlines surplus cash to spend and upgrade their services. Thus, the aircraft cabin interior market is expected to accelerate at a higher rate, than the commercial aircraft market, thereby, projecting high growth rates for aircraft seats market.
March 2018: Adient and Boeing will jointly present new seating solutions to potential customers at AIX in Hamburg, Germany
Key Industry Players: ZODIAC AEROSPACE, B/E AEROSPACE, RECARO AIRCRAFT SEATING GMBH & CO, ELAN AIRCRAFT SEATING AND THOMPSON AERO SEATING, amongst others.
Reasons to Purchase this Report:
To study current and future market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Detailed analysis of the segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
Report Customization and Benefits:
This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.