LONDON--(BUSINESS WIRE)--The global commercial aircrafts seating market size is poised to grow by USD 4.67 billion during 2020-2024, progressing at a CAGR of almost 9% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Economic improvements among global consumers have increased their spending on unique experiences. This is inducing aircraft interior designers to experiment with modern systems, which include the integration of luxurious seats into the business-class and first-class segments in modern aircraft. Also, the emerging middle class is seeking material aspects of luxury travel, and mature markets are looking for a new, evolved type of luxury. This is encouraging aircraft operators across the world to offer comfort and luxury at certain price points, which has increased the adoption of premium seats in the business-class segments of the wide-body aircraft. The growing demand for luxury in air travel is one of the significant factors that will drive commercial aircraft seating market growth.
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Report Highlights:
- The major commercial aircraft seating market growth came from economy class segment. The economy class segment held the largest market share in 2019 and will account for the highest commercial aircraft seating market share over the forecast period as well. Vendors in the commercial aircraft seating market include several designs of economy-class seats in their portfolios. They are leveraging in-house design capabilities to reduce aircraft turnaround time associated with cabin refurbishment, which has boosted installations in new aircraft.
- Europe will offer several growth opportunities to market vendors during the forecast period. The consistent R&D investments in the aerospace domain and the increase in cabin retrofitting activities undertaken by airline operators for offering modern amenities and designs to travelers will significantly influence the growth of the commercial aircraft seating market share of this region.
- The global commercial aircrafts seating market is fragmented. Adient Plc, Airbus SE, Autoflug GmbH, Aviointeriors Spa, Geven Spa, Ipeco Holdings Ltd., JAMCO Corp., Safran SA, Thompson Aero Seating Ltd., and United Technologies Corp. are some of the major market participants. To help clients improve their market position, this commercial aircraft seating market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global commercial aircrafts seating market 2020-2024 is expected to have Negative and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Use of Composites and Advanced Materials in the Design and Construction of Aircraft Seats will be a Key Market Trend
Critical commercial aircraft seating market trends such as the use of composites and advanced materials in the design and construction of aircraft seats, will also drive market growth. Aircraft manufacturers are consistently working on reducing the total weight of the aircraft to improve fuel efficiency, reduce operational costs, and enhance profit margins for airline operators. They are increasingly using lightweight materials such as magnesium alloys for the construction of structural components of aircraft. Market vendors are also striving to improve passenger comfort through innovative fabric designs. They are using flame-resistant variants of wool, polyester, and natural and synthetic leather-based materials to construct seat accessories. The use of alloys and advanced fabrics for the construction of aircraft seats is expected to increase over the forecast period. As a result of these factors, the global commercial aircraft seating market will grow during the forecast period.
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Commercial Aircraft Seating Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist commercial aircraft seating market growth during the next five years
- Estimation of the commercial aircraft seating market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the commercial aircraft seating market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of commercial aircraft seating market vendors
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Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Cabin Class
- Market segments
- Comparison by Cabin Class placement
- Economy class - Market size and forecast 2019-2024
- Business class - Market size and forecast 2019-2024
- Premium economy - Market size and forecast 2019-2024
- First class - Market size and forecast 2019-2024
- Market opportunity by Cabin Class
Market Segmentation by Aircraft Type
- Market segments
- Comparison by Aircraft Type placement
- Narrowbody - Market size and forecast 2019-2024
- Widebody - Market size and forecast 2019-2024
- Regional aircraft - Market size and forecast 2019-2024
- Market opportunity by Aircraft Type
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Adient Plc
- Airbus SE
- Autoflug GmbH
- Aviointeriors Spa
- Geven Spa
- Ipeco Holdings Ltd.
- JAMCO Corp.
- Safran SA
- Thompson Aero Seating Ltd.
- United Technologies Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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