Aerospace Seating Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2448
Aerospace Seating Market size is anticipated to grow rapidly from 2017 to 2024. Rising air passenger traffic along with increasing modernization of aircrafts will primarily drive the industry growth. The airline operators focus on retaining their customers and maintaining their brand image, thereby offer comfortable seating environment for their passengers. This rising need has instigated regular replacement and refurbishing of the aircraft seats, escalating the revenue generation over the forecast timeframe.
Upsurge in passengers opting for air travel has resulted in significant rise in aircraft deliveries across the globe. Moreover, the airline operators are focusing on expanding the seating capacity of their aircrafts. Rising demand for stronger, slimmer, and durable seats along with retrofitting of existing seats are other factors positively impacting the aerospace seating market over the next eight years. However, high investments and longer clearance periods of the aircraft interiors are the key challenges faced by the industry participants.
Adoption of advanced & lightweight seats is among the key trends that has gained prominence among the aerospace seating market participants. Owing to the shifting focus towards lightweight seats, numerous aircraft manufacturers are using advanced lightweight materials for development of their seats. Effective weight management of these seats help in efficient optimization of the ratio between range and payload, resulting in low fuel consumption. This high demand for low fuel consumption in modern aircrafts will further escalate the need to adopt lightweight materials. These advancements will offer stable growth prospects to the industry size till 2024.
Aerospace seating market is segmented based on aircrafts into narrow body, wide body, very large aircrafts, and regional jets. Narrow body aircraft is likely to dominate the industry over the forecast timeframe. Emergence of new airlines fulfilling the demand of full-service carrier (FSC) and low-cost carrier (LCC) along with rising need of single aisle aircrafts will primarily contribute to the substantial revenue generation. Aerospace seating market from very large aircrafts (VLA) will grow rapidly from 2017 to 2024 owing to increasing prominence of comfortable and advanced seating designs.
The industry is segmented based on seat class into business class, premium economy, economy, and first class. Business class is anticipated to lead the aerospace seating market over the next eight years. Substantial rise in air travel across the globe coupled with high preference of passengers towards air travel will contribute significantly towards the revenue generation. Economy class will grow substantially from 2017 to 2024 owing to rising middle class population preferring air travel.
North America aerospace seating market share will showcase dominance over the forecast timeframe owing to rising deliveries of commercial aircrafts. It is attributed to a significant rise in the air passenger traffic over the past years. The Federal Aviation Administration (FAA) is making huge investments for the procurement of new advanced and lightweight aircraft seats. Asia Pacific is anticipated to grow substantially owing to continuously growing aviation industry across the region. This growth can be credited to rising disposable income of middle class population and growth in trade and tourism, especially in the emerging economies including India and China.
Zodiac Aerospace, B/E Aerospace, Aviointeriors S.p.A, Thompson Aero Seating Ltd., Acro Aircraft Seating, ZIM Flugsitz GmBH, and RECARO Aircraft Seating GmbH & Co. KG are among the prominent participants in aerospace seating market. The industry is witnessing constant competition based on product cost, reliability, and quality. The competitors are focusing on partnering with airline operators to gain competitive edge. For instance, in June 2017, Avianca airlines ordered 3,170 slimline long-haul economy seats for it’s A320 family aircraft. Moreover, in 2016, the company’s production unit in Texas delivered approximately 14,000 seats to Boeing’s line-fit facilities.
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