Aircraft Seating Market has been projected to strike a robust CAGR of 14% during the forecast period 2017 to 2023. The Global Aircraft Seating Industry Shares segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. - News and Updates
As per the analysis published by Market Research Future (MRFR), the global aircraft seating market has been projected to strike a robust CAGR of 14% during the forecast period 2017 to 2023. The increasing fleet size of the global aviation industry coupled with accelerated retrofitting activities is projected to dictate the growth trajectory of the market in the upcoming years.
The passenger experience is the key focus for the market participants. Emphasis is on the development of seats that increase the seating density per aircraft for an enhanced experience. Furthermore, the growth of the luxurious segment of the industry has intensified demand for high-end aircraft seats. The integration of automation into the aviation sector is further expected to propel the expansion of the Aircraft Seating Market.
The rising need for light-weight aircraft components to increase fuel-efficiency has been projected to dominate the future trajectory of the global aircraft seating market. The key players are developing light-weight seats that enhance fuel efficiency and comfort. This, in turn, ensures that the market is poised to remain highly attractive across the review period.
By seat type, the global aircraft seating market has been segmented into first class, business, premium economy, and economy.
By aircraft type, the aircraft seating market has been segmented into wide body, narrow body, and regional transport aircraft
By fit type, the global aircraft seating market has been segmented into line fit and retrofit
The global aircraft seating market, by region, has been segmented into North America, Asia Pacific, Europe, and the Rest of the World. Among these regional markets, North America is expected to secure the pole position through the forecast period. The growth can be attributed to the increased fleet size of the region and rising investment in retrofitting. Also, the region houses some of the global leaders of the aircraft seating market. Their growth strategies are likely to favor the expansion of the regional market on a global marketplace in the foreseeable future. Europe is likely to exhibit a similar trend and grow substantially across the review period. The growth of the ultra-luxury segments of the aviation industry is poised to fuel aircraft seating demand in the regional market.
Asia Pacific has been witnessing a growth in the population of the middle-income population which has led to the expansion of the aviation industry in the region. This, in turn, has been anticipated to propel the expansion of the aircraft seating market in the region. In addition, the region is gaining momentum as the manufacturing hub of the world. Investments are likely to be injected in the regional market by the global leaders, thus, augmenting the aircraft seating market over the next couple of years.
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The Rest of the World is a lucrative market owing to the growth of the air traffic in the Middle Eastern countries. Saudi Arabia is presumed to contribute significantly towards the growth of the aircraft seating market in the region. Furthermore, the expansion of airlines such as Etihad Airways, Qatar Airways, and Emirates, are poised to drive the growth of the market in the region.
Some of the key players profiled in this MRFR report are B/E Aerospace, Inc. (U.S.), RECARO Aircraft Seating GmbH & Co. KG (Germany), Zodiac Aerospace (France), Acro Aircraft Seating (U.K.), Aviointeriors S.p.A. (Italy), Haeco Americas (U.S.), Geven S.P.A(Italy), Thompson Aero Seating Ltd. (U.K.), Sogerma S.A. (France) and ZIM Flugsitz GmbH (Germany).
In January 2019, Air Baltic, legally incorporated as AS Air Baltic Corporation, has announced that it is working on the launch of a new all Airbus A220 airline in Europe. The A220-300 will be accommodating 145 seats for Air Baltic.
In January 2019, Vietnamese start-up Bamboo Airways has started its operation with 128 seated A319, 180 and 159 seated A320s.
In May 2018, JetSuite, a private jet charter company, has ordered for 100 hybrid-electric passenger jets.
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