Pune, Sept. 21, 2020 (GLOBE NEWSWIRE) -- The global aircraft seating market size is projected to reach USD 7.69 billion by the end of 2027. The presence of several large scale companies will have a massive impact on the growth of the overall market. According to a report published by Fortune Business Insights, titled “Aircraft Seating Market Size, Share & COVID-19 Impact Analysis, By Aircraft Type (Commercial, Business Jets, and Regional Aircraft), By Class (Economy Class, Premium Economy Class, Business Class, and First Class), By Seat Type (9g Seats, 16g Seats), By Components (Structure, Foams, Actuators, Electrical Fittings, and Others), By End-use (OEM and Aftermarket), and Regional Forecast, 2020-2027,” the market was worth USD 6.74 billion in 2019 and will exhibit a CAGR of 7.39% during the forecast period 2020-2027.
Aircraft seating is the medium that is used by passengers and all other personnel in an aircraft. The primary components for this type of seating include actuators, electric fittings, foams, and physical structures. Thus, these factors are directly related to the product and any alterations in the offerings for any of these components can have a direct effect on the overall aircraft seating.
The abundance of these factors and the presence of several large scale manufacturers associated with these components will have a huge impact on the growth of the overall aircraft seating market in the coming years. The increasing number of air travels and passengers will emerge in favor of the companies operating in the global market in the foreseeable future.
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The decrease in Number of International Flights during the Covid-19 Pandemic Proving Damaging for Manufacturers
The recent coronavirus outbreak has created a sense of panic across the world. Accounting to the rapid spread of the disease, governments in several countries across the world has implemented strict measures to curb the spread. The efforts taken to minimize the impact of the coronavirus have had a negative effect on several businesses across the world. The strict bans and restrictions on international as well as domestic flights have had a daunting impact on the manufacturers in this sector. Having said that, the efforts taken to ease lockdowns and lift travel bans will come as a welcoming step for businesses in this type of seating sector.
Safran Receives Order for France Airlines’ New Fleet; Company’s Latest Contract to Prove Influential for Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company collaborations and contracts has had the highest impact on market growth. The presence of several large scale companies in this sector and the increasing number of private as well as government airlines across the world are influential to the growth of the overall aircraft seating market.
The massive investments in product innovations have proven beneficial for companies, with large scale companies looking to focus on newer variants instead of repetitive concepts. In December 2019, France-based Safran announced that it has received an order from France Airlines for the design and supply of new seating for new fleet. The company will be producing seats for the A350 fleet, a newly procured airline. Such company collaborations will have a huge impact on the growth of the overall market in the coming years.
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North America Currently Dominates the Market; Rising Aviation Industry will Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America currently dominates the market. The rise of the aviation industry will create a huge platform for companies in the aircraft seating sector.
The presence of several globally renowned companies based in North America will provide an impetus to the growth of the regional market. Additionally, the presence of several OEMs in this region will also emerge in favor of the growth of the aircraft seating market in North America. As of 2019, the market in North America was worth USD 2.56 billion, and this value is projected to rise at a considerable pace in the coming years.
List of the Leading Companies Profiled in the Global Aircraft Seating Market are:
- Collins Aerospace (The U.S.)
- ACRO Aircraft Seating Ltd (The U.K.)
- Aviointeriors S.p.A. (Italy)
- Embraer Aero Seating Technologies (EAST) (The U.S.)
- Expliseat SAS (France)
- Geven S.p.a. (Italy)
- HAECO (China)
- Iacobucci HF Aerospace S.p.A. (Italy)
- JAMCO Corporation (Japan)
- Encore, A Boeing Company (The U.S.)
- Mirus Aircraft Seating Ltd (The U.K.)
- RECARO Aircraft Seating GmbH & Co. KG (Germany)
- STELIA Aerospace (France)
- Thompson Aero Seating Limited (The U.K.)
- Zim Flugsitz GMBH (Germany)
- Safran (France)
- Lufthansa Technik AG (Germany)
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Industry Developments:
September 2019 –Thompson Aero Seating Limited, a company based in the UK, announced that the company’s Vantage seats are selected by Scandinavian Airlines (SAS) for its new A321LR Business Class seats.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Qualitative Insights
- Impact of COVID-19 on the Aircraft Seating Market
- Supply Chain Challenges
- Steps Taken by the Industry/Government/Companies to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities due to COVID-19 Outbreak
- Global Aircraft Seating Market Analysis, Insights and Forecast, 2016–2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Aircraft Type
- Commercial
- Business Jets
- Regional Aircraft
- Market Analysis, Insights and Forecast – By Class
- Economy Class
- Premium Economy Class
- Business Class
- First Class
- Market Analysis, Insights and Forecast – By Seat Type
- 9G Seats
- 16G Seats
- Market Analysis, Insights and Forecast – By Components
- Structure
- Foams
- Actuators
- Electrical Fittings
- Market Analysis, Insights and Forecast – By End-Use
- OEM
- Aftermarket
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- The Middle East & Africa
- South America
TOC Continued…!
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