New York, USA, Dec. 26, 2022 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global aircraft seat actuation system market. According to the report, the global market is projected to surpass $1,187.7 million and grow with a CAGR of 8.6% in the estimated period, 2022–2031. This all-inclusive report delivers a comprehensive overview of the current and future situation of the aircraft seat actuation system market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of COVID-19 Pandemic on the Aircraft Seat Actuation System Market
The outburst of the COVID-19 pandemic in 2020 has had an adverse impact on the growth of the global aircraft seat actuation system market. The implementation of lockdown and travel restrictions across the globe forced people to stay in their homes to avert the spread of the virus. Hence, several airline services ceased their functioning, which hampered the demand for aircraft seat actuation systems. These factors significantly hindered the market growth amidst the pandemic.
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Factors Impacting the Market Growth
The key factor boosting the growth of the global aircraft seat actuation system market is a significant rise in the demand for high-tech seats in numerous aircraft. In addition, the increasing advancements in aircraft seat actuation technology and rising adoption of urban air mobility (UAM) are estimated to unlock lucrative opportunities for the market growth in the forecast period. However, the high cost involved in the production of aircraft seat actuation systems is anticipated to deter the market’s growth.
The report segments the global aircraft seat actuation system market into aircraft type, passenger seat class, technology, and region.
Linear Wing Sub-Segment to Grab a Foremost Share of the Market
The linear wing sub-segment of the aircraft type segment is foreseen to observe leading growth in the forecast period. This growth is mainly owed to the increasing demand for linear wing aircrafts, as they offer a larger range for holding cargo.
Economy Class Sub-Segment to Observe Significant Growth
The economy class sub-segment of the passenger seat class segment is expected to hold a leading share of the market in the forecast period. This is primarily due to the growing demand for economy class passenger seats as they offer great comfort and are available at reasonable rates.
Electromechanical Sub-Segment to Witness Rapid Growth
The electromechanical sub-segment of the type segment is predicted to grow enormously in the forecast period. This growth is mainly owed to the increasing use of electromechanical technology in numerous aircraft, as this technology helps in reducing vibrations from mechanical machine assemblies and equipment used in aircraft.
Asia-Pacific Region to Perceive Maximum Growth
The report analyzes the global aircraft seat actuation system market across several regions such as Asia-Pacific, North America, Europe, and LAMEA. Among these, the Asia-Pacific market is projected to observe rapid growth in the estimated period. This growth is mostly due to the growing urbanization in developing countries and increasing demand for air travel among people in countries like South Korea, Australia, and India in this region.
Key Players of the Market
The report states some of the foremost players operating in the global aircraft seat actuation system market including
- Astronics Corporation
- Crane Aerospace (United Technologies Corporation)
- Rollon SpA
- Airwork Pneumatic Equipment
- Moog Inc.
- NOOK Industries Inc.
- Kyntronics
- Bühler Motor GmbH
- others
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market- Purchase Inquiry
For instance, in February 2022, Unum Aircraft Seating, a designer and producer of lie-flat business class seats for commercial airliners, announced about its partnership with foremost innovators in aircraft design and engineering – SCHROTH Safety Products, SabetiWain Aerospace, and Bühler Motor Aviation GmbH.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
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