Aircraft Seat Market Growth Offers Room to Grow to Existing & Emerging Players

January 6th,2023/Industry News Global/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Seat Market.

Aircraft Seat Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The market for aircraft seats is expected to grow with a healthy CAGR of 15.2% to reach US$ 5.5 Billion in 2027. Segment Analysis

Segments' Analysis

Based on the aircraft type, the market is bifurcated into narrow-body aircraft, wide-body aircraft, regional aircraft, and business jets. Narrow-body aircraft is expected to remain the biggest demand generator of aircraft seats in the foreseen future. Several factors, such as upcoming narrow-body aircraft programs, expected increase in the production rates of key programs, and rebounding aftermarket, are likely to drive the demand for seats in the narrow-body aircraft segment.

Over the past decade, newer generation narrow-body aircraft have experienced tremendous demand due to the growing air passenger traffic and acceptance of the low-cost carrier business model. The A220 series has also been extremely successful, and the plane is widely recognized as a game-changer. According to data from the International Air Transport Association, each new generation aircraft is capable of a 20% increase in fuel efficiency, making narrow-body aircraft practical for long-distance travel. Furthermore, the advent of single-aisle narrow-body aircraft is changing the market dynamics, creating a greater demand for seats that offer excellent comfort in the long haul.

Based on the seat-class type, the market is segmented into first-class seats, business-class seats, premium-economy-class seats, and economy-class seats. It has been noted that aircraft interior market stakeholders are more keep understanding the paradigm shift from first-class seats to business-class and premium-economy-class seats. Furthermore, these stakeholders are also interested in understanding the airlines opting for premium-economy-class seats.

During the forecast period, economy-class seat type is anticipated to maintain its dominance in terms of units, driven by a high volume of passengers traveling in economy class and the expansion of LCCs (Low-cost Carriers) globally. Due to the widespread use of modern seats with advanced features and attached to in-flight entertainment systems, business- and premium-economy-class is predicted to expand at healthy rates during the projected period. In the light of increased demand for premium-economy-class seats, airline operators are requesting the installation of more of these seats than economy-class seats.

Based on the component type, the market is segmented as soft goods, metals, composites, and electric. Among these component types, metal dominates the market. Numerous small and mid-sized parts are used and assembled to create an aircraft seat. Depending on the aircraft and the type of seat class, the proportion of metal to electrical components varies, first-class seat has several electrical components to give the passenger optimal comfort and a greater range of functions, whereas n economy-class seat may have few or no electrical components.

Based on the end-user type, the market is segmented as OE and aftermarket. OE end-user type is anticipated to dominate the market over the forecast period. The primary causes of its dominance are the high demand for new aircraft from developing nations, upcoming aircraft programs, and the rapid rebound in air passenger traffic.

In terms of regions, North America is expected to remain the largest market for aircraft seats over the forecast period. Almost all Boeing commercial aircraft programs are assembled in the region. Furthermore, all the leading players have excellent manufacturing and sales presence in the region to tap the growth potential. Boeing has been under waters in the past few years, mainly by the grounding of B737 max first, followed by B787 grounding. However, both of these challenges are resolved and the company is ready to gear up its production rates in the near future which will substantiate the dominance of the region in the coming years. Asia-Pacific is expected to experience the highest growth during the forecast period due to upcoming commercial and regional aircraft programs such as COMAC C919. China, Japan, India, and South Korea are the major markets in Asia-Pacific and will continue driving the region’s market in the years to come.

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Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Aircraft Seat Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

About Stratview Research

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