Aerospace Seating Market Statistics | Global Outlook & Forecast To 2024
Date: 2019-02-12   Author: Ronak Bora  Category: #industry

Aerospace Seating Market Statistics | Global Outlook & Forecast To 2024

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.

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.

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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.

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.

Space launch vehicle segment application is expected to generate maximum demand in the inertial navigation system market owing to the upsurge in satellite launches and growth in space research & exploration events. The global space industry grew in 2015 in terms of technological advancement, although fluctuations in the currency due to economic instability witnessed a decline in revenue from USD 328 billion in 2014 to USD 322 billion in 2015.

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.

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Prominent participants in aerospace seating market are 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. 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.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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