New York, USA, Nov. 03, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global aircraft seat actuation system market is expected to garner a revenue of $1,001.3 million by 2027, growing exponentially at a CAGR of 8.8% during the forecast period 2020-2027. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Dynamics of the Market
Drivers: Rising demand for aircraft seats in order to provide maximum comfort to the passengers is expected to drive the growth of the market during the forecast period. In addition, increasing demand for enhanced technology seats with motion control and adjusting aircraft seat actuators is further expected to bolster the growth of the market during the forecast period.
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Opportunities: Surging demand for cost-effective airlines with seat actuators is anticipated to create ample opportunities for the growth of the aircraft seat actuation system market during the forecast period.
Restraints: High cost involved in the manufacturing of the aircraft seat actuation system is predicted to impede the growth of the market during the forecast period.
Segments of the Market
The report has divided the aircraft seat actuation system market into various segments based on aircraft type, passenger seat class, type and region.
Aircraft Type: Linear Wing Sub-segment to be Most Profitable
The linear wing sub-segment generated a revenue of $332.9 million back in 2019, and is further expected to surge expeditiously during the forecast period. Linear wing type can carry immense payload that too for a farther distance. This factor is expected to drive the growth of the sub-segment during the forecast period.
Passenger Seat Class: Economy Class to have the Highest Growth Rate
The economy class sub-segment is expected to grow rapidly at a CAGR of 9.2% during the forecast period. More and more people across the globe opt for economy class, owing to their affordable rates and availability of comfortable seats. This factor is expected to bolster the growth of the aircraft seat actuation system sub-segment during the forecast period.
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Type: Electromechanical Sub-segment to have the Fastest Growth Rate
The electromechanical sub-segment is expected to surge exponentially at a CAGR of 10.1% during the forecast period. Electromechanical seats significantly reduce the vibrations emerging from mechanical machines assemblies and apparatus used in aircrafts. This factor is expected to augment the growth of the sub-segment during the forecast period.
Region: European Region Expected to Dominate the Market
The European aircraft seat actuation system market generated a revenue of $187.0 million back in 2019, and is further expected to experience a progressive growth during the forecast period. Massive presence of manufacturing units of the seat actuator systems in the region is expected drive the growth of the market. In addition, increasing investments from prominent players of the market to develop innovative seats in the aircraft is further expected to invigorate the growth of the regional aircraft seat actuation system market.
COVID-19 Impact on the Market
The outbreak of coronavirus has had an adverse impact on the growth of the global aircraft seat actuation system market, owing to the prevalence of lockdowns in various countries across the globe. Stringent government travel restrictions on domestic and international flights led to the complete shutdown of airline travel around the globe. Thus, the pandemic has had a negative impact on the growth of the market.
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Key Players of the Market
The major players of the market include
- Moog Inc.
- Kyntronics
- Astronics Corporation
- ITT Inc.
- Rollon SpA
- NOOK Industries Inc.
- Crane Aerospace and Electronics
- Airwork Pneumatic Equipment
- Collins Aerospace
- Bühler Motor GmbH, and many more.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in April 2020, B&D Industrial, an industrial automation company that provides custom engineering services, collaborated with Kyntronics, a dominant company specializing in actuation systems, in order to develop new technology used for actuation and motion control solutions.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, 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
Related Article Links:
- High Demand for Advanced Seating Solutions to Propel the Global Aircraft Seat Actuation System Market
- Know Your Choice of Airplane Seat Ahead of the Journey
