New York, USA, March 07, 2022 (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 rapidly 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.
Segments of the Aircraft Seat Actuation System 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 is expected to occupy a dominating market share during the forecast period. This sub-segment generated a revenue of $332.9 million in 2019, and is further anticipated to grow exponentially at a CAGR of 7.9% during the forecast period 2020-2027. Linear wing type can carry a great deal of payload. In addition to that, it can hold the payload for a much longer distance. This provides a good degree of comfort to the pilots because the seat adjustment range is pretty high for pilots. Hence, this would be ideal for them, especially in case of long-distance flights, where comfort is the key factor for seamless journeys. These factors are predicted to bolster the growth of the aircraft seat actuation system market sub-segment during the forecast period.
On the other hand, the rotary wing sub-segment is also expected to witness a considerable growth during the forecast period.
Passenger Seat Class: Economy Class Sub-segment to be Most Lucrative
The economy class sub-segment is expected to acquire a commanding market share, and is also predicted to witness the highest growth rate in the global market during the forecast period. This sub-segment generated a revenue of $158.0 million in 2019, and is further anticipated to surge expeditiously at a CAGR of 9.2% during the forecast period 2020-2027. This growth is mainly due to the immaculate comfort along with the affordable costs provided by this sub-segment. Significant surge in the middle-class people across the globe, opting for budget-friendly flights is expected to drive the growth of the aircraft seat actuation system market sub-segment during the forecast period.
Other sub-segments include premium economy class, business class and first class. The premium economy class sub-segment is expected to grow rapidly during the forecast period. It generated a revenue of $128.6 million in 2019, and is further predicted to grow swiftly at a CAGR of 8.9% during the forecast period.
Region: Europe Region to Dominate the Global Aircraft Seat Actuation System Market
The Europe aircraft seat actuation system market is expected to acquire a dominating share in the market during the forecast period. The region generated a revenue of $187.0 million in 2019, and is further anticipated to grow exponentially at a CAGR of 8.2% during the forecast period. Extensive presence of huge number of manufacturing units of seat actuator systems in this region is expected to drive the growth of the market. In addition, large number of companies in this region are aggressively investing in manufacturing perceptibly enhanced and advanced seats for the aircraft. These factors are expected to stimulate the growth of the regional market during the forecast period.
Other investigated areas of the aircraft seat actuation system market include Asia-Pacific, North America and LAMEA. The Asia-Pacific region is expected to have the highest growth rate during the forecast period. It generated a revenue of $116.6 million in 2019, and is further predicted to grow swiftly at a CAGR of 9.5% during the forecast period.
Type: Electromechanical Sub-segment to be Most Beneficial
The electromechanical sub-segment is expected to grow rapidly at a CAGR of 10.1% during the forecast period. The electromechanical seat appreciably helps in reducing vibrations arising from mechanical machines assemblies and apparatus that are used in aircrafts. This factor is expected to accelerate the growth of the sub-segment during the forecast period.
COVID-19 Impact on the Aircraft Seat Actuation System Market
The outbreak of coronavirus has had a negative 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 travel restrictions imposed by the government, and various other limitations on aircrafts led to the decreased demand for aircraft seat actuator systems across the globe. In addition, large-scale shutdown of numerous manufacturing units of seat actuator systems further aggravated the impact on the market.
Dynamics of the Aircraft Seat Actuation System Market
Drivers: Growing demand for low-cost airlines coupled with the increasing usage of aircraft seat actuation system technology across the globe is expected to drive the growth of the market. In addition, increase in the standard of living among people across the globe is further expected to bolster the growth of the aircraft seat actuation system market during the forecast period.
Restraints: High cost associated with the aircraft seat actuation system technology is expected to impede the growth of the market during the forecast period.
Opportunities: Increasing prevalence of technological advanced seats like self-adjusting aircraft seat actuators, motion control, etc. are expected to create ample opportunities for the growth of the aircraft seat actuation system market during the forecast period.
Major Key Players of the Aircraft Seat Actuation System Market
The major players of the aircraft seat actuation system market include
- NOOK Industries Inc.
- Rollon SpA
- Moog Inc.
- Astronics Corporation
- Crane Aerospace & Electronics
- Bühler Motor GmbH
- AIRWORK PNEUMATIC EQUIPMENT
- Kyntronics
- ITT Inc.
- Collins Aerospace (United Technologies Corporation), and many others.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth. - Inquire here to know who are the Hugh investor For developing a new product or manufacturing unit for the seat actuators
For instance, in April 2019, Crane Aerospace & Electronics, a diversified manufacturer of highly engineered industrial products, collaborated with Adient Aerospace, a dominant developer of seating products to airlines and leasing companies, in order to develop seat actuation systems and electrical integration on Adient’s Ascent business class seat.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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
- Aircraft Seat Actuation System Market Projected To Grow At A CAGR Of 8.8% And Generate A Revenue Of $1,001.3 Million In The Estimated Timeframe
