The aircraft seating market is projected to grow from USD 6.4 billion in 2018 to USD 10.5 billion by 2025, at a CAGR of 7.25% during the forecast period from 2018 to 2025

31/01/2019 15:14

Source: PR News

NEW YORK, Jan. 31, 2019 /PRNewswire/ -- Increasing demand for seats installed with in-flight entertainment systems is one of the significant factors driving the growth of the aircraft seating market across the globe.

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The aircraft seating market is projected to grow from USD 6.4 billion in 2018 to USD 10.5 billion by 2025, at a CAGR of 7.25% during the forecast period from 2018 to 2025. This market's growth can be attributed to the increased demand for seats installed with in-flight entertainment systems, which have become an alternate source of income for most airlines. The ancillary revenue obtained from these systems is helping airlines in maintaining and enhancing the quality of their onboard services. Several airlines use different sources, such as onboard shopping, Wi-Fi connectivity, and advertising to generate revenue. However, the limited number of profitable airlines in emerging economies is expected to restrain the growth of the market.

The OEM end use segment is projected to lead the aircraft seating market from 2018 to 2025.
Based on end use, the OEM segment is projected to lead the market during the forecast period.The growth of this segment can be attributed to the fact that the customization of aircraft seats according to the requirements of airlines before the aircraft's delivery is easier as compared to their retrofitting.

Several airlines buy new aircraft, especially the narrow-body models such as B737 and A320, which are installed with new seats.

The business class segment is projected to lead the aircraft seating market from 2018 to 2025.
Based on class, the business segment is expected to lead the market during the forecast period. Wide-body aircraft, such as B767, B777, B787, A350, and A330 have the maximum number of business class seats, and in the next decade, the growth rate of wide-body aircraft is expected to be higher than that of other aircraft types.

North American is estimated to account for the largest share of the aircraft seating market in 2018.
The North American region is estimated to account for the largest share of the aircraft seating market in 2018.Some of the major aircraft manufacturers, such as Boeing (US) and Bombardier (Canada) are based in this region, thereby leading to its increased demand for aircraft seating components.

The Asia Pacific aircraft seating market is projected to grow at the highest CAGR during the forecast period, owing to increasing air traffic from emerging economies such as China, India, and Japan. There is a rise in air passenger traffic, which has resulted in an increased order for new aircraft deliveries, subsequently leading to the growth of the aftermarket and MRO segments in this region.

Break-up of the profile of primary participants in the aircraft seating market:
• By Company Type: Tier 1 – 49%, Tier 2 – 37%, and Tier 3 – 14%
• By Designation: C Level – 55%, Director Level – 27%, and Others – 18%
• By Region: North America – 27%, Europe – 55%, Asia Pacific – 9%, and RoW – 9%

Some of the major companies profiled in the report include Zodiac Aerospace-Safran (France), B/E Aerospace-Rockwell Collins, Inc. (US), Geven S.p.A. (Italy), RECARO Aircraft Seating (Germany), HAECO Americas (US), Lufthansa Technik (Germany), and Stelia Aerospace (France).

Research Coverage:
This research report categorizes the aircraft seating market based on end use (OEM, MRO, and Aftermarket), type (16g and 9g), class (Business Class, First Class, Premium Economy Class, Economy Class), and aircraft type (Narrow Body Aircraft, Wide Body Aircraft, Very Large Aircraft, Regional Transport Aircraft, and Business Jets). These segments and subsegments have been mapped across major regions, namely, North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

Reasons to Buy this Report:
From the insight perspective, this research report focuses on various levels of analysis that include industry analysis (industry trends), market share analysis of top players, competitive leadership mapping matrix, and company profiles. These insights together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the aircraft seating market; high-growth regions; and drivers, restraints, challenges, and opportunities for the aircraft seating market.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on different products used in aircraft seating offered by top players of the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new products launched in the market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the aircraft seating market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the market

Read the full report: https://www.reportlinker.com/p04194700

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