ALBANY, New York, Feb. 19, 2018 (GLOBE NEWSWIRE) --
Growing inclination of consumers towards air transport has driven the demand for aircraft seats as airline companies are actively focusing maximizing the seating capacities of the aircrafts. Manufacturers of aircraft seats are using composite materials and hybrid textiles in production, which has further propelled their profit margins and made aircraft seat manufacturing cost-effective. Companies namely, Zodiac Aerospace Group, B/E Aerospace, Inc, RECARO Aircraft Seating GmbH & Co. KG, Aviointeriors S.p.A, JAMCO Corporation, Geven S.p.A, Acro Aircraft Seating, Mirus Aircraft Seating Ltd, ZANKER PROMOTION GMBH, and Thompson Aero Seating Ltd are observed as the leading manufacturers in the global aircraft seating market, with majority of them aiming at development of ergonomically-designed aircraft seats.
These companies have been extensively profiled in a recent forecast study developed by Transparency Market Research. According to the report, revenues netted by these companies over the past few years have been exceptionally high, reflecting a robust growth in global demand for aircraft seats. The study projects that in the upcoming years, the overall growth of the global aircraft seating market is likely to be vigorous. By the end of 2026, around US$ 27.5 Bn worth of aircraft seats are expected to be sold in the global market. The report further projects that during the forecast period, 2017-2026, the global aircraft seating market will expand at a steadfast CAGR of 12.9%.
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APEJ to Surpass North America and Represent Largest Aircraft Seating Market by end of 2026
The study further projects that increasing air travel and booming tourism sector in the US and Canada will play a key role in fuelling the growth of North America’s aircraft seating market. By the end of 2017, the aircraft seating market in North America to register revenues worth nearly US$ 3 Bn. While North America will be at the forefront of global aircraft seating market expansion at the first half of the forecast period, the Asia-Pacific excluding Japan (APEJ) region is pegged to register an outpacing growth towards 2026-end. The report projects that by the end of the forecast period, the APEJ region will be dubbed as the largest market for aircraft seats, reaching an estimated US$ 9 Bn in value.
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Narrowbody Aircrafts to Account for Highest Sales of Aircraft Seats
The demand for narrowbody aircraft seats is expected to remain high throughout the forecast period. Apropos the research findings, a majority of airline companies are expected to increasingly seek seats for narrowbody aircrafts. In 2017, more than US$ 6.7 Bn worth of aircraft seats have been sold to be fitted in narrowbody aircrafts. The report also reveals that the sales of seats for small passenger widebody aircrafts raked in over US$ 1 Bn in 2017. However, the demand for aircraft seats for turboprops is expected to remain relatively sluggish. Over the forecast period, turboprops are likely to showcase revenue growth at a subpar CAGR in the global aircraft seating market.
Retrofitting of Aircraft Seats to Funnel More Revenues; Economy Class to Remain Lucrative for Manufacturers
The report has further analyzed the global aircraft seating market on the basis of fitting type and seating class. Through 2026, retrofitting is expected to account for more than 65% of global aircraft seating market revenues, while line fittings will register a dwindling revenue growth. The report also projects that manufacturers of aircraft seats will predominantly focus on extending the production of economy class seats. Over the forecast period, economy class aircraft seats sold in the global market will be registering a healthy CAGR of 13.1%.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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