ID: MRFR/A&D/0766-CR | 111 Pages | Published By Sejal Akre on December 2018
The market is expected to reach a final market value worth USD 32.7 billion by 2028. The market is projected to grow at a global CAGR of 13.2% amid the ongoing forecast period.
The commercial aircraft cabin interior market share was projected to have reached a final market value worth USD 17.6 billion by the end of the historic forecast period in 2019. For the ongoing forecast period of 2021-2028, the market is expected to reach a final market value worth USD 32.7 billion by 2028. The market is projected to grow at a global CAGR of 13.2% amid the ongoing forecast period.
The global growth of the Commercial Aircraft Cabin Interior Market can be attributed to the increased degree in the number of new aircraft orders which is a result of the steep rise in air passenger traffic across various prominent locations in the globe. Moreover, the airline companies are highly concerned about enhancing and improving their customer experience and as such, are further, investing increasingly for the up-gradation of the existing aircraft fleets, thereby leading to a splendid degree of growth of the aircraft cabin interiors market by the end of the period in 2028.
The emergence of COVID-19 as a pandemic and its outbreak has impacted the aviation industry adversely owing to the air travel restrictions on both domestic as well as international flights across locations and countries, which is resulting in the grounding of aircraft fleets and further, giving rise to a sudden dip in aircraft orders and deliveries in 2020. This is likely to negatively impact the aircraft cabin interiors market in the short term of the ongoing forecast period. The global market operations are expecting a slow recovery is expected in Q1 of 2021. The aviation industry is likely to take a minimum of 2-3 years to recover from the financial losses and effects of COVID-19, leading to lower air travel and passenger demand, and traffic compared to previous global Commercial Aircraft Cabin Interior Market estimates.
The temporary halts that have been imposed by the global governments in the production sector have impacted the OEM market for aircraft cabin interiors adversely. Further, the aircraft deliveries have been delayed both in the first and second quarter of 2020, due to the imposition of lockdowns in various countries, which has further fueled the declined quantum of the revenue that has been earned by the producers and manufacturers.
Post-COVID-19, market groups like businessmen, politicians, and high net-worth individuals are likely to prefer air travel through the help of private jets or turboprops and air taxis, both within and outside the country as they are considered to be a safe, comfortable, and convenient option for self-transportation and convenience. This will, in turn, drive the global demand for aircraft cabin interiors such as luxury items and comfortable seating, followed by healthy and hygienic lavatories, and efficient in-flight connectivity, and others.
Aircraft and its component manufacturers are making constant efforts for the development of new market technologies that will benefit both the airlines and their passengers, and hence, make air travel more convenient. This new technology has the capability of 24 lighting variants for the convenience of passengers, and further, their functions are based on the biorhythms of all the passengers on board. Hence, the aircraft cabin interiors market strategy is fruitful for the Commercial Aircraft Cabin Interior Market growth in the forecast period.
There has been a delay in aircraft deliveries that are affecting the aviation industry, which can further face struggles with the impacted operations, cash flow, and results in losses for the lessees, as a part of the market. The aircraft cabin interiors market is dependent on the developments of the aircraft market. Any kind of lag in the aircraft deliveries can affect future procurement and contracts and is likely to be potentially lead the Commercial Aircraft Cabin Interior Market towards heavy losses for cabin interior manufacturers.
The global prominent companies that are providing the Aircraft Cabin Interior (ACI) products are generally the small and medium enterprises (SMEs), distributors, dealers, and end-customers including the aircraft manufacturers and airline companies. They are the key stakeholders in the aircraft cabin interior ecosystem by increasing their funding for the employment of technology in the market. The market investors and funders in the Commercial Aircraft Cabin Interior Market are witnessing prominent contributions from academic researchers, distributors, service providers, followed by the airport authorities that are serving as major influences for the aircraft cabin interiors market.
The commercial aircraft cabin interior market analysis shows that the growing size of the market can be attributed to the splendid performance that has been recorded by the global market segments that are functional in an array of locations in the worldwide location. The Commercial Aircraft Cabin Interior Market segmentation is mentioned as follows:
By the end-user industry
The global commercial aircraft cabin interior market has been segmented based on the end-user industry and includes OEM, MRO, and aftermarket.
By Aircraft Type
The global commercial aircraft cabin interior market has been segmented based on the aircraft type and includes Narrow Body Aircraft, Wide-Body Aircraft, and others like Very Large Aircraft, Business Jets, and Regional Transport Aircraft.
The global commercial aircraft cabin interior market has been segmented based on the type and includes Aircraft Seating, In-flight Entertainment and Connectivity, Aircraft Cabin Lighting, Aircraft Galley, amongst others like Aircraft Lavatory, Aircraft Windows & Windshields, Aircraft Stowage Bins, and Aircraft Interior Panels.
The global commercial aircraft cabin interior market has been segmented based on the material and includes Alloys and composites amongst others.
The aircraft cabin interiors market has been segmented based on the regions as well. The regional bifurcation of the market includes countries like North America, Europe, the Asia Pacific region, Latin America, the Middle East, and Africa. The North American market and region are expected to lead the global aircraft cabin interiors market growth in the period that will be ending in 2028. The US region is emerging as a major market for aircraft cabin interiors in the region owing to its flourished and expanding aviation industry. Moreover, major commercial aircraft manufacturers located in the region such as Boeing (US) and Bombardier (Canada) are increasing their funding for research, and thereby leading to an increase in the demand for final market products that are used in aircraft cabins interiors. The North American region is projected to continue leading the Commercial Aircraft Cabin Interior Market during the forecast period and upcoming years, as well.
The cabin interior market revenue is projected to undergo a steep market increase in the global market premises especially during the ongoing forecast period that will be ending in 2028 owing to the developments that the global prominent companies and players have opted for. The commercial cabin interior market size is rising because of the following market segments:
In July 2020, one of the prominent global market players - Panasonic Avionics Corporation has announced its partnership with Middle East Airlines Air Liban (MEA) intending to provide inflight entertainment and connectivity (IFEC) solutions that are known as eX1 seatback for 15 of its Airbus A321 family aircraft. This offers great convenience and comfort.
In June 2020, another prominent player of the global market scenario - Collins Aerospace Systems has developed and introduced the Cabin Air Recirculation high-efficiency particulate air (HEPA) filter installation kit and further, is pushing for its use on Dash 8 (-100/-200/-300) aircraft.
In October 2019, another commendable company of the market - Astronics Corporation introduced in the international market, its new wireless charging module (WCM) for business aircraft followed by rotorcraft markets. Astronics’ WCM is known to provide wireless charging capability for passenger smartphones amongst other devices and is considered to be an ideal approach for both forward-fit and aftermarket retrofit.
RECARO Aircraft Seating GmbH & Co. KG announced that it had received an order from KLM Cityhopper, KLM’s regional carrier, to conduct the process of outfitting the 21 Embraer 195-E2 aircraft. Each aircraft is known to have a hybrid layout of Recaro BL3710 and SL3710 seats and is likely to be understood as the first Embraer 195-E2 that is slated for delivery in the first quarter of 2021.
The commercial aircraft cabin interior market share has been discussed by the market report based on the propelling trends for the forecast period of 2021-2028. The market report discusses the factors that will help the market cover the losses of the pandemic followed by the restraints that the market might witness.
The global Commercial Aircraft Cabin Interior market is touted to record a substantial market valuation by 2027.
The global Commercial Aircraft Cabin Interior market is projected to register a moderate 6.81% CAGR in the forecast period.
The seating segment is expected to observe substantial demand over the review period.
The narrow-body aircraft segment is expected to secure the highest CAGR.
The massive demand for Commercial Aircraft Cabin Interior market due to increasing passenger traffic is the market's primary growth inducer.
The retrofit segment is expected to secure the highest CAGR.
A few eminent market players operating in the global Commercial Aircraft Cabin Interior market are United Technology Corporation (US), Zodiac Aerospace (France), Jamco Corporation (Japan), Panasonic Avionics (U.S.), among others.