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The aircraft seating market share is expected to increase by USD 13.07 billion from 2021 to 2026, at a CAGR of 18.74%.
This aircraft seating market research report extensively covers aircraft seating market segmentation by aircraft type (commercial aircraft and military aircraft) and geography (Europe, North America, APAC, Middle East and Africa, and South America). The aircraft seating market report also offers information on several market vendors, including ACRO Aircraft Seating Ltd., Adient Plc, Airbus SE, Causeway Aero, Aviointeriors Spa, Collins Aerospace, EnCore Corporate Inc., Expliseat SAS, Geven Spa, JAMCO Corp., John Swire and Sons Ltd., Martin-Baker Aircraft Co. Ltd, Mirus Aircraft Seating Ltd., RECARO Holding GmbH, Thales Group, Thompson Aero Seating Ltd., TSI Seats Inc., ZIM AIRCRAFT SEATING GmbH, Safran SA, and Singapore Technologies Engineering Ltd. among others.
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The growing demand for commercial aircraft is notably driving the aircraft seating market growth, although factors such as the impact of COVID-19 on the aviation industry may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the aircraft seating industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Aircraft Seating Market Driver
The growing demand for commercial aircraft is one of the key drivers supporting the aircraft seating market growth. For instance, in May 2021, Recaro Aircraft Seating integrated its SL3710 and BL3710 into a hybrid layout on TAP Air Portugal's new Airbus fleet. TAP was the first announced customer for the SL3710 seat, and their A320 is the first Airbus aircraft to be equipped with the economy class seat. Similarly, India's civil aviation industry is moving from nascency toward the growth phase and progressing rapidly in the area of aircraft manufacturing. The growth in commercial aircraft production results in a subsequent increase in the application of aircraft seating. Thus, the growth in the commercial aircraft segment is expected to increase the application of aircraft seating, which, in turn, will drive the growth of the market during the forecast period.
Key Aircraft Seating Market Trend
The use of composites and other advanced materials for seat design and construction is another factor supporting the aircraft seating market growth. Companies such as Lantal and Acme Mills Co. (Acme Mills) strive to enhance passenger comfort and safety through innovative fabric design. Lantal designs and supplies seat cover materials based on flame-retardant variants of wool, polyester, and natural and synthetic leather-based materials. Aircraft seats include a wide variety of plastic moldings, such as decorative close-outs, trim strips, food trays, telecommunication (audio/video/phone) devices, and armrests. Thus, heat-resistant and flame-retardant thermoplastics are being used to construct such seat accessories. Thus, the use of alloys and advanced fabrics for seat construction is expected to increase, which will usher a radical change in the supply chain of aircraft seats during the forecast period.
Key Aircraft Seating Market Challenge
The impact of COVID-19 on the aviation industry is one of the factors hindering the aircraft seating market growth. The close of airlines around the globe resulted in a loss of revenue for airline companies. Also, the cancellation of aircraft orders and shut down of various manufacturing resulted in a decline of revenue of equipment manufacturers and services providers. For instance, in 2020, Boeing Market Outlook (BMO) projected that the commercial aviation and services markets would continue to face significant challenges due to the pandemic, while global defense and government services markets remain more stable. BMO forecasted a total market value of $8.5 trillion over the next decade, including the demand for aerospace products and services. The forecast was down from $8.7 trillion a year ago due to the COVID-19 pandemic. Thus, the slowdown in the aviation industry and decline in aircraft manufacturing will negatively impact the growth of the aircraft seating market during the forecast period.
This aircraft seating market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global aircraft seating market as a part of the global aerospace & defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the aircraft seating market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the aircraft seating market encompasses successful business strategies deployed by the key vendors. The aircraft seating market is fragmented and the vendors are deploying growth strategies such as product quality, cost, and product innovation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The aircraft seating market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the aircraft seating market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Aircraft Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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