Aircraft Seating Market - Global Forecast to 2025 - Increasing Demand for Seats Installed with In-Flight Entertainment Systems - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 18, 2019--The “Aircraft Seating Market by Class, Type, End Use, Aircraft Type, Materials, Components, and Region - Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
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 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.
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 aircrafts 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.
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.
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).
DriversGrowing Demand for Seats Installed With Ifec Systems Increasing Number of Premium Economy Seats Increasing Aircraft Orders Maintenance & Retrofitting of Existing Aircraft
RestraintsShortage of Profitable Airlines in Emerging Economies Regulatory Frameworks and Certifications
OpportunitiesRise of Low-Cost Airlines
ChallengesRegulations to Install 16g Seats in All Aircraft Delay in Aircraft Deliveries High Installation Cost
Companies MentionedAcro Aircraft Seating Airgo Design Aviointeriors Collins Aerospace Embraer Aero Seating Technologies (East) Expliseat Geven HAECO Iacobucci HF Aerospace Inseat Solutions LLC JAMCO JPA Design Lift By Encore Lufthansa Technik Mac Interiors Mirus Aircraft Seating Recaro Aircraft Seating Stelia Aerospace Thomson Aero Seating Zim Flugsitz Zodiac Aerospace (Safran)
For more information about this report visit https://www.researchandmarkets.com/research/g84nnd/aircraft_seating?w=4
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SOURCE: Research and Markets
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PUB: 02/18/2019 05:28 AM/DISC: 02/18/2019 05:28 AM