The Global Aircraft Seating Market Size is set to reach USD 13.42 billion by 2026, exhibiting a CAGR of 7.21% during the forecast period. Increasing air travel worldwide is the key factor driving growth of this market. This rise in demand for air travel is predicated on the rapid growth of the urban middle class.
The Aircraft Seating Industry report analyses the on-going market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America currently dominates the market. The rise of the aviation industry will create a huge platform for companies in the aircraft seating sector.
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According to the new report published by Fortune Business Insights, titled “Aircraft Seating Market Size, Share & Industry Analysis, By Class (Business, First, Premium Economy, and Economy), Seat Type (9g and 16g), Aircraft Type (Commercial, Business, and Regional Aircraft), Components (Structures, Foams, Actuators, and Electrical Fittings), End-Use (OEMs and Aftermarket), and Regional Forecast, 2018-2026”, the market value stood at USD 7.65 Billion in 2018. The report also contains an exhaustive analysis and detailed evaluation of the various factors, trends, future prospects, and other dynamics that will influence the market and empower businesses to frame strategies in an informed manner in the stipulated period.
According to the Brookings Institution, by 2030, the urban middle class will comprise close to 5.4 billion people. The International Air Transport Association estimates that by 2035, nearly 7.2 billion people will travel by air, a 100% jump from current levels. Moreover, most of these people are expected to be from Asia-Pacific, particularly India and China. According to Boeing, in the next 20 years, the demand for aircrafts will go over 39,000 and of these, about 15,000 will be from Asia-Pacific. Therefore, as the number of air travelers grows, airlines will look to make their journeys as comfortable as possible, especially for those travelling by economy class. This will augur well for the market during the forecast period.
Key Questions Answered:-
- Why Choose Fortune Business Insights?
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
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Presence of High Net Worth Individuals (HNWIs) to Propel the Market in North America:-
With a revenue generation of USD 2.7 billion in 2017, North America is projected to dominate the aircraft seating market share, mainly because of the presence of a considerable number of high net worth individuals in the region. Their presence is expected to push up the demand for business class travelling. In fact, according to the aircraft seating market trends, business class seating will witness a demand spike in the coming decade in North America. In Asia-Pacific, operational expertise of aircraft OEMs such as Mitsubishi is anticipated to fuel the market in the region during the forecast period.
Top Key Company Profile:-
- Iacobucci HF Aerospace
- Thomson Aero Seating
- Zodiac Aerospace
- Acro Aircraft Seating
- Lufthansa Technik
- Embraer Aero Seating Technologies (EAST)
- Mirus Aircraft Seating
- Zim Flugsitz
- Collins Aerospace
Rising Adoption of New Seating Technologies by Airlines to Spur Competition
Major airlines are increasingly demanding high-quality seating technologies and this is intensifying competition among key players in this market, according to the aircraft seating market forecast. For instance, in May 2019, Etihad selected Acro Aircraft Seating to supply its innovative Series 6 economy class seats which boast an excellent seatback curve, providing passengers immense legroom and knee comfort. Some airlines themselves are coming out with novel ideas. For example, Lufthansa developed slim seats made with mesh fiber for increased legroom for passengers.
Browse Detailed Summary of Research Report With TOC:
Key Topics Covered In Table Of Content (TOC):-
- Executive Summary
- Market Dynamics
- Key Insights
- Global Aircraft Seating Market Analysis, Insights and Forecast, 2016-2027
- Europe Aircraft Seating Market Analysis, Insights and Forecast, 2016-2027
- Asia Pacific Aircraft Seating Market Analysis, Insights and Forecast, 2016-2027
- Rest of the World Aircraft Seating Market Analysis, Insights and Forecast, 2016-2027
- Competitive Analysis
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