Aircraft Soft Goods Market – Growth Opportunities and Challenges 2018-2024
Date: 2018-08-28   Author: Ronak Bora  Category: #market

Aircraft Soft Goods Market – Growth Opportunities and Challenges 2018-2024

Aircraft Soft Goods Market share for commercial segment accounts for over 85% of total revenue owing to continuously increasing air passenger traffic. In 2018, air passengers traffic registered an increase of 6% and rose to 4.3 billion from 4.1 billion in 2017. Government bodies including International Air Transport Association (IATA) addresses passenger safety, thereby boosting industry growth. Regional jets will witness robust growth owing to proliferating number of flights and acceptance of light weighted materials.

Upgradation in airliner interiors to improve aesthetics and enhance passenger comfort level will fuel aircraft soft goods market over the forecast period. Adoption of soft goods to reduce noise and vibration during flight will further drive its consumption in airplanes. Continuous OEM and aftermarket initiatives to develop lightweight interior products are boosting the industry growth.

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Aerospace industry is focusing on improving its production capacity owing to high aero plane backlogs. In 2017, the production increased from 1,714 to 1,740 compared to 2016. Airplane manufacturers have backlog of around 17,000 airplanes requiring over 9 years to suffice the demand. Rising airplane production will boost aircraft soft goods market share till 2024. Rising disposable income has increased air passengers resulting in augmentation of domestic and international fleet, thereby accelerating demand for seat covers, carpets, and curtains.

Manufacturers such as Bombardier and Boeing are adopting new materials to reduce weight and cost of products. Advent of materials such as nylon fabrics provide higher comfort as compared to traditional goods and replacement with synthetic leather will improve aircraft soft goods market share over the forecast period. In addition, ongoing refurbishment activities to upgrade old airplanes and enhance business & economy class cabin interiors will further strengthen the product adoption. Continuous R&D activities focus on improving raw materials that will help in reducing cost and extending automobile age. Low cost and high-volume production will make fuel cell electric vehicles more competitive with other type of electric and combustion engine automobiles available over the study period.

Seat cover will register robust growth during forecast timeline with increasing passengers, upgradation of seat, and armrest covers in airplanes. Requirement in executive cabins in conjunction with discretionary spending for retrofit will spur aircraft soft goods market. Curtains are at nascent stage and will witness substantial growth with cabin separation application in commercial, regional airplanes, and business airliners.

Nylon blend fabric aircraft soft goods market share will account for over 70% by 2024 owing to superior material properties including insulation, water & wrinkle resistance, and higher durability. Nylon fabrics are blended with materials such as polyester to enhance passenger comfort and elasticity cover.

Leather materials have significant share with puncture and tear resistance; however, low wear and cost will help synthetic leather material to grow at faster pace. Polyester aircraft soft goods market will foresee healthy growth owing to chemical resistance and high durability.

OEM market will register 3% during the forecast period owing to its installation during airplane fabrication. Long term collaborations with manufacturers such as Bombardier, Boeing, and Airbus to ensure continuous product supply will escalate industry revenue from 2018 to 2024.

North America led by the U.S. accounts for major share owing to presence of airplane manufacturers such as Bombardier and Boeing. Asia Pacific aircraft soft goods market will register sturdy growth with increasing passenger traffic and commercial airplane industry. Rising public spending in emerging nations will boost industry share over the forecast period. MEA is at nascent stage and will foresee growth with rise in business and private jets.

Aircraft soft goods market players include Aero Floor, Anker Company, Aero Foams Tapis Corporation, Aircraft Interior Products, Spectra Interiors, Aircraft Interior Sol, RAMM Aerospace, Botany Weaving Mills, Mohawk Group, Desso, Lantal Textile, Fellfab, InTech Aerospace, E-Leather, and F-list. Industry players are enhancing product landscape to increase their share. For instance, in 2018, Lantal introduced TEC leather having superior thermal property.

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About Author

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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