The Aircraft Seating market in conjunction to the overall aviation industry is projected to witness the noticeable growth rate during the forecast period, owing to the increasing deliveries of the commercial aircraft, boosting demand for the premium economy class seats, and enhancing aftermarket demand for aircraft seating due to the growing requirement for development and maintenance of existing aircraft.
According to MarkNtel Advisors’ research report “Global Aircraft Seating Market Analysis, 2020”, the global Aircraft Seating market is anticipated to grow at a CAGR of around 8% during 2020-25. Increasing investment by the airline's operators on the up-gradation of in-flight infrastructure and interiors in the existing flights, in addition to the soaring demand for the lightweight aircraft seating among the market participants, has been projected to uptick the global aircraft seating market growth.
Due to the rising concern for performance efficiency, the leading operators in the global aircraft seating market are offering advanced lightweight aircraft seats, through installing lightweight materials for the designing and development of the seats. Furthermore, the increasing passenger traffic and their mounting expectations in the aviation industry, has led to several innovations and upgradations in the interior seating assets. For instance, some aircraft owning companies are focusing on facilitating an additional seating row in the business class, whereas few others are focusing on the modification of the seating design and the attached amenities.
Narrow Aircraft Type Projected to Contribute Largest Revenue Share in the Forthcoming Years
On the basis of the type of aircraft, the narrow segment is expected to attain the highest CAGR growth rate in the upcoming years, owing to the increasing demand for the narrow-body aircraft from the low-cost aviation carriers. The narrow-body aircraft are used for short-distance travel and have a low maintenance cost.
According to Boeing, the single-aisle airplanes is anticipated to hold the largest market share in the new deliveries with an approximate requirement of around 26,730 units, from the low-cost carriers requiring the replacement for existing and the less efficient airplanes through 2034. Whereas, the Airbus analyzed the requirement for nearly 23,000 new-single-aisle aircraft worth USD2.2 trillion during the same period.
Competitive Advantage of the Premium- Economy Class Over Other Aircraft Cabin Segment Driving the Highest Growth
The segmentation of the global aircraft seating market on the basis of class type is anticipated to be led by the business class segment, whereas, the premium-economy class would be experiencing the highest market growth rate during 2020-25. The improving economic condition in the emerging economies of the world such as China, India, Japan, Singapore, Argentina, Qatar, among others, interloped with the rising expenditure power of the consumers, has been increasing the penetration rate of a premium-economy fleet segment.
To match the growing demand for the premium economy class by the passengers, the airliners are either adding an additional premium class to their segment or replacing one or another segment for the premium-economy segment.
For instance, the Emirates Airlines has announced the introduction of the new premium-economy lass in their new addition A380s, to be rolled out by 2020. Whereas, on the other hand, the German airline Lufthansa is going to completely eliminate the first-class segment in its new Boeing 777-9s, replaced by the business segment.
According to MarkNtel Advisors’, some the of key competitors operating in the Global Aircraft Seating market includes Zodiac Aerospace (Safran), Collins Aircraft, Geven, RECARO Aircraft Seating, Jamco, HAECO, Lufthansa Technik, Stelia Aerospace, Zim Flugsitz, Acro Aircraft Seating, etc.
“Global Aircraft Seating Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots and opportunities available for Aircraft Seating providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Class (First Class, Business Class, Premium Economy Class, Economy Class)
2. By Aircraft Type (Narrow Body Aircraft (NBA), Wide Body Aircraft (WBA), Very Large Aircraft (VLA), Business Jets, Regional Transport Aircraft (RTA)
3. By End User (Aftermarket, MRO, OEM)
4. By Seat Type (9G, 16G)
5. By Region (North America, South America, Europe, the Middle East, and Africa, Asia- Pacific)
6. By Country (US, Canada, Mexico, Brazil, Germany, Italy, France, UK, Saudi-Arabia, UAE, Qatar, China, India, Japan, Singapore)
7. By Company (Zodiac Aerospace (Safran), Collins Aircraft, Geven, RECARO Aircraft Seating, Jamco, HAECO, Lufthansa Technik, Stelia Aerospace, Zim Flugsitz, Acro Aircraft Seating, and Others)
Key questions answered in the study:
1. What are the current and future trends of the Global Aircraft Seating industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Automatic Weapons industry?
5. What are the customer orientation, purchase behavior, and expectations from the Aircraft Seating suppliers across various regions?