Aircraft Seating Market Size Anticipated to reach at a USD 4.23 Billion by 2030, registering a CAGR of 6.8% during 2020-2030.
The advancement in technology is widely spreading in various marketing sectors. Technological improvement and upgradation had been seen in every industrial sector. The aviation sector is not even behind in technology, and it is upgrading vastly in the field of technology with improvement and innovation. The upgradation in the aviation industry is driving the Aircraft Seating Market. The aircraft seats are made up of non-metallic materials, and the aircraft seats contribute to the weight of the aircraft's interior. The rise in the development of seating configuration in aircraft has been in great demand in recent years. The passenger preference to travel more comfortably and safely boosts the Aircraft Seating Market Size. The aviation industry's demand for high-density seating configurations to provide better services is one of the major growth factors of the Aircraft Seating Market. Aircraft seats are designed specially to carry the passengers and offer proper functions and accommodation.
The Aircraft Seating Market Trends is increasing due to the growing focus on developing low-weight aircraft seats, and the association with advanced entertainment systems is accelerating its growth rate. The rise in the need for various facilities and features can add more weight to the aircraft. Still, the market players are focusing on the issue of providing more lightweight services as a good accommodation to the passengers.
The manufacturers are even using advanced foam and structure materials to reduce the aircraft's weight. Such upgradation and improvement for the customization of seats enhance the Aircraft Seating Market Outlook. Even the availability of a wide range of advanced designs for aircraft seats with in-flight entertainment and connectivity system solutions is upgrading the market across the world. The properties of the seats are paid attention to during manufacturing to give out the best result.
The growth of the Aircraft Seating Market to continue significantly in the upcoming years due to its high demand. The government’s investment in the aviation sector is even accelerating the market. The Aircraft Seating Market Value is expected to witness a CAGR of 7.24% during the evaluation period from 2019 to 2024.
During the COVID-19 pandemic period, almost every market sector has faced a difficult situation. A huge revenue loss was noticed in various industries due to the strict lockdown guidelines. The Aircraft Seating Market Forecast even faced tough challenges during this period. The imposed lockdown restricted people from moving out of their houses, and the transportation services were even stopped worldwide.
This badly affected the Aircraft Seating Market and hampered its growth rate. The aviation sector has noticed a downfall in the growth rate; it affected various operations related to the aviation sector, such as air travelling, supply of raw material, aircraft deliveries, manufacturing, and production process. These factors have badly affected the Aircraft Seating Market Outlook. The prominent players are trying to recover from the tough situation and let the market compete globally.
Key Market Drivers
The chief market drivers existing in the Aircraft Seating Market are driving the market at the global level. The rise of IFEC system-enabled seats in the aircraft boosts the Aircraft Seating Market Growth. Developing advanced seat design to provide safer service is largely driving the market. Even the people’s preference towards advanced seats is accelerating the Aircraft Seating Market Growth. Maintenance and retrofitting of existing aircraft are even driving the market.
Market Challenges
The Aircraft Seating Market faces challenging factors in the growth period due to the economic loss during the pandemic. The aviation sector has faced a downfall in the growth rate. But the prominent players are trying to stabilize the growth condition.
Market Opportunities
The Aircraft Seating Market is experiencing great opportunities due to the rapid demand for improved technology in urban air mobility. The improvement of the aviation industry to provide comfortable and safer journeys is setting wide opportunities for the market across the world. The rise of low-cost aircraft sets huge opportunities for the Aircraft Seating Market Size.
Restraints
One of the major restraining factors of the Aircraft Seating Market is high prices and regulations due to the installment of advanced aircraft seats, which is hampering the market’s growth. The process of renovating and installing premium seats to the existing aircraft seats is a major restraining factor of the market.
The Aircraft Seating Market Analysis has shown a consistent growth rate since the recent years, and it will continue to grow at a significant rate in the future years. The major drivers of the Aircraft Seating Market are uplifting the market’s growth rate to emerge at the global level. The market is receiving great opportunities from various sources, accelerating the market to shine worldwide. The market players keep the challenging and restraining factors to not affect the growth period. During COVID-19, the Aircraft Seating Market Trends will witness a healthy CAGR during the assessment period.
The Aircraft Seating Market is segmented into different segments based on seat type, aircraft type, and fit segment.
By Seat Type
The Aircraft Seating Market is sub-segmented into the economy, premium economy, business class, and first-class based on seat type segment. Among these segments of seat type, the premium economy class is projected to register a higher growth rate with a good CAGR percent. This is due to the rise of low-cost airlines, boosting the demand for the premium economy class segment. The other segments of the seat type even accounted for showing steady growth.
By Aircraft Type
The Aircraft Seating Market is segmented into the wide-body, narrow-body, and regional transport aircraft in the aircraft type segments. Among the above body type, the wide body is projected to be the fastest-growing segment, and it is accounted to reach the highest CAGR during the forecast period. The demand for improved interiors in wide-body aircraft is comparatively higher than the other segments.
By Fit
The Aircraft Seating Market is categorized into line fit and retrofit segments. Both the segments account significant growth rate with a decent CAGR during the assessment period.
According to the geographical status of the Market, it is distributed in various developing regions across the world such as Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. Among these above geographical regions, the North American market has accounted for the highest share of the Aircraft Seating Market Share. It is going to continue its growth in the future years.
The US and Canada region are driving the North American market, and it is estimated to witness the highest CAGR. The Asia Pacific region is observed to observe significant growth during the forecast period. The Asia Pacific region regions, such as China and India, are likely to hold the substantial market share of the Asia Pacific Aircraft Seating Market Share. Other regions such as Europe, the Middle East, Africa, and Latin America register a good growth rate in the future years.
The chief players of the Aircraft Seating Market play an effective role in guiding the market to compete at the global level. Their investment in the market is helping the market to reach a significant growth rate. Below mentioned is the list of prominent players in the Aircraft Seating Market.
The global Aircraft Seating Market witnessed a value of USD 5147.06 Million in 2020, and it is about to reach USD 7074.30 Million by 2026.
Avianca Ecuador has inaugurated aircraft with an innovative feature for the economy seats.
ACS made a partnership with Singapore Airlines for B737-8 business class seats.
The overview report of the Market has shown an enhanced growth rate in recent years. Due to the existing key drivers, the market to receive great opportunities in the upcoming years, which will help the market to emerge worldwide.
The key players are implementing various marketing strategies to check out challenging and restraining factors—each segment of the Aircraft Seating Market will provide their best services per the market’s demand. The geographical statistics of various regions of the Aircraft Seating Market are even showing great results. Therefore, the Aircraft Seating Market Value to witness a strong CAGR with a good USD value during the forecast period.
By Seat Type
By Aircraft Type
By Fit
Aircraft Seating Market Highlights:
Frequently Asked Questions (FAQ) :
Aircraft Seating Market registering a CAGR of 6.8% during 2020-2030.
B/E Aerospace, Inc. (US),Hong Kong Aircraft Engineering Company Limited (Hong Kong),Zodiac Aerospace (France),Recardo Aircraft Seating GmbH & Co.KG (Germany),ACRO Aircraft Seating Ltd (UK),AviointeriorsSpA (Italy),ZimFlugsitz GmbH (Germany),GEVEN SpA (Italy),JAMCO Corporation (US),Thompson Aero Seating Ltd (UK),Recent Market Development
North American is the Largest Share Holder in Aircraft Seating Market Globally.
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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