New York, USA, June 21, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global aircraft seat actuation system market is projected to garner a revenue of $1,001.3 million at a CAGR of 8.8% during the analysis period, 2020-2027. The comprehensive research gives a concise analysis of the current market landscape, including major features such as potential opportunities, restraints, challenges, and growth factors during the analysis period. The report also includes all market statistics, making it easier and more useful for beginners to grasp the market.
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COVID-19 Impact on the Market
The pandemic has wreaked havoc on the aircraft sector. The airline industry suffered a negative impact during the pandemic due to the complete shutdown of airline travel and all related operational activities. Furthermore, seat production has been halted, which has had a negative impact on the aircraft seat actuation system market during the pandemic.
Dynamics of the Market
The global aircraft seat actuation system market is expected to grow significantly as the use of aircraft seat actuation system technology has increased dramatically over the years, making it an important component in aircrafts. The increased demand for aircraft seats is due to factors such as providing improved comfort to customers.
Furthermore, advancements in seat technology such as light weight, motion control, and self-adjusting aircraft seat actuators have increased the demand for advanced technology seats, which is expected to boost the aircraft seat actuation system market during the forecast period. Furthermore, the rising demand for premium seats with seat actuation systems is expected to be a major driving force in the global aircraft seat actuation system market in the upcoming years. For example, premium seat class has become a standard seat type in both aircraft and passenger airlines.
On the contrary, the cost of manufacturing and installing seats in aircraft is expected to hinder the growth of the global aircraft seat actuation system market during the forecast period.
Segments of the Market
The report has segmented the market into different segments based on aircraft type, passenger seat class, type, and regional analysis.
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Aircraft Type: Linear Wing Sub-Segment is Expected to Garner the Largest Market Share
The linear wing sub-segment is expected to garner the largest market share and predicted to surge with a CAGR of 7.9% by 2027. As linear wings can carry more cargo for longer distances, seat actuators are utilized to keep the pilot comfortable over extended distances. These factors are expected to drive the growth of the sub-segment in the analysis period.
Passenger Seat Class: Premium Economy Class Sub-Segment is Expected to be the Most Lucrative
The premium economy class sub-segment is expected to be the most lucrative over the analysis period and surge with a CAGR of 8.9% by 2027. Premium economy class is located between main and business class cabins, and is much more expensive and offers better seating conditions to customers, which is expected to enhance the sub-segment market in the forecasted timeframe.
Type: Electromechanical Sub-Segment is Expected to be the Most Profitable
The electromechanical sub-segment is expected to be the most profitable over the analysis period and surge at a CAGR of 10.1% by 2027. Since electromechanical seats reduce vibration from mechanical machinery assembly and apparatus used in aircrafts, most aircraft manufacturers have adopted the electromechanical technology, which is expected to drive the market in the upcoming years.
Region: Asia-Pacific Region is Expected to Experience Fastest Growth
Asia-Pacific regional market for aircraft seat actuation system is expected to experience the fastest growth and surge at a CAGR of 9.5%. Most businesses are focusing on getting their job done at a lower cost employing the region’s high-skilled labor, which is expected to drive the market in the forecast period.
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Key Market Players and Strategies
The most prominent market players of the global aircraft seat actuation system market include
- Kyntronics, Moog Inc.
- AIRWORK PNEUMATIC EQUIPMENT
- Astronics Corporation
- Bühler Motor GmbH
- Crane Aerospace & Electronics
- Rollon SpA, ITT Inc.
- NOOK Industries Inc.
- Collins Aerospace (United Technologies Corporation).
These players are working on developing strategies such as partnerships, merger and acquisition, product development, collaborations to sustain the market growth.
For instance, in April 2019, Adient, an American Irish-domiciled global maker of automobile seating, collaborated with Crane Aerospace & Electronics, a diversified maker of highly designed industrial goods, to create electrical integration and seat actuation technologies for its Ascent business class seat.
The report also summarizes several key aspects including SWOT analysis, product portfolio, financial position of the market players, and latest strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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