The Commercial Aircraft Seating Market is projected to reach $10.54 billion by 2025, at a CAGR of 7.25% from 2018 to 2025. The base year considered for the study is 2017, and the forecast period is from 2018 to 2025. The market includes the OEM, aftermarket, and MRO segments that are witnessing growth due to the increase in aircraft deliveries, upgrades in existing aircraft, and increasing focus on maintenance of aircraft seats. However, the regulatory framework & certification and shortage of profitable airlines in emerging economies are expected to restrain the growth of in-flight entertainment & connectivity market.
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“Premium economy class segment projected to grow at highest CAGR from 2018 to 2025”a
Base on class, the premium economy segment of the aircraft seating market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for premium economy seats by travellers owing to the cheaper ticket value in comparison to business class seats. Emirates has announced a new premium class to be rolled out by 2020. On the other hand, Singapore Airlines will be cutting the number of first-class seats on its next A380s, while the German airline Lufthansa will do away with the first-class cabin completely in its new Boeing 777-9s, leaving business as the highest class on select flights. These changes reflect a shift in trends that place business as the new first class, and premium economy as the new business class.
“Narrow body aircraft segment projected to grow at highest CAGR from 2018 to 2025”
Based on aircraft type, the narrow body aircraft segment is projected to grow at the highest CAGR during the forecast period. This segment’s growth can be attributed to an increasing demand for narrow body aircraft from low-cost carriers in emerging economies. Low-cost airliners tend to procure narrow-body aircraft, owing to their need for short distance travel and the aircraft’s easy maintenance.
Based on region, the Asia Pacific aircraft seating market is projected to grow at the highest CAGR during the forecast period. The market growth in this region is largely due to increase in air passenger traffic from countries such as India, China, Japan, and Indonesia. The region has been witnessing growth in domestic travel since the last decade, which has led an increase in aircraft deliveries mostly for low-cost carriers. Emerging markets require new aircraft to meet the fast-growing traffic demand. Hence, new airlines are being launched in emerging economies, such as India and China, where passenger traffic has been increasing at an above average growth rate.
Key Market Players:
Major companies profiled in the report include Zodiac Aerospace (France), B/E Aerospace -Rockwell Collins, Inc. (US), Geven S.p.A. (Italy), RECARO Aircraft Seating (Germany), HAECO Americas (US), Lufthansa Technik (Germany), Stelia Aerospace (France) among others.
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