Pune, May 19, 2020 (GLOBE NEWSWIRE) -- The global aircraft seating market size is likely to gain impetus from the rising demand for premium economy class seats owing to the emergence of new low-cost aircraft. These seats provide more passenger comfort. This information is given by Fortune Business Insights™ in a published report, titled, “Aircraft Seating Market Size, Share & Industry Analysis, By Class (Business, First, Premium Economy, and Economy), Seat Type (9g and 16g Seats), Aircraft Type (Commercial, Business, and Regional Aircraft), Components (Structures, Foams, Actuators, and Electrical Fittings), End-Use (OEMs and Aftermarket), and Regional Forecast 2019-2026.” The report further states that the aircraft seating market size was USD 7.65 billion in 2018 and is projected to reach USD 13.42 billion by 2026, thereby exhibiting a CAGR of 7.21% during the forecast period.
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This Report Answers the Following Questions:
- How will the demand for cost-effective aircraft seats affect the market?
- Which companies are set to generate the highest revenue?
- Which strategies are being adopted by key companies to increase sales?
- What are the trends, drivers, hindrances, and opportunities in the market?
Drivers & Restraints- Aircraft Seating Market
Need for More Passenger Comfort to Augment Growth
Higher demand for aircraft seats equipped with in-flight connectivity and entertainment systems is a major growth driver. Presently, several manufactures are focusing on delivering the passengers with a pleasuring experience, as well as more comfort and safety throughout the journey. The demand for seats featuring unique amenities is surging as it is helping in enhancing the in-flight entertainment services. Numerous premium commercial airlines are aiming to gain a competitive edge by refining aircraft cabin interiors. Aircraft seats are one of the most important parts for not only improving passenger comfort, but also for their safety. Therefore, airline companies are emphasizing more on choosing seats.
Segment- Aircraft Seating Market
Business Class Segment to Hold the Highest Share Backed by Surging Demand for Advanced Features
In terms of class, the market is divided into economy class, premium economy class, business class, and first class. Out of these, the business class segment held 39% aircraft seating market share in 2018. This growth is attributable to the rising demand for state-of-the-art features, such as internet connectivity, as well as need for more passenger comfort. This class is considered to be more comfortable and it possesses extensive options for entertainment, as compared to the other classes.
Browse Summary of This Research Report with Detailed Table of Content: https://www.fortunebusinessinsights.com/industry-reports/aircraft-seating-market-101680
Regional Analysis- Aircraft Seating Market
North America to Lead Fueled by Possession of Flourishing Aviation Industry
Based on geography, North America generated USD 2.91 billion revenue in 2018. The region is anticipated to dominate the market throughout the forthcoming years. This growth is attributable to the presence of a well-established aviation industry in this region. Also, the existence of a large number of commercial aircraft OEMs, namely, Bombardier, Textron, and Gulfstream would augment growth. In addition to this, owing to the presence of several high-net-worth individuals in this region, the demand for business jets and commercial aircraft is rising and so is air traffic.
Asia Pacific, on the other hand, is set to exhibit significant growth in the coming years backed by the rising expenditure by the developing countries, such as India and China in the aviation industry. It would further create high demand for aircraft seats. Prominent aircraft OEMs present in this region include Korea Aerospace Industries (South Korea), COMAC (China), and Mitsubishi Heavy Industries (Japan). They would soon begin the delivery of business and commercial aircraft in the coming years. This factor would also propel growth in this region.
Competitive Landscape- Aircraft Seating Market
Key Companies Focus on Developing New Ideas to Restructure Seating Arrangement
The market is packed with a large number of manufacturers that are persistently trying to strengthen their positions by launching innovative products and thereby, widening their offerings. Some of the others are also unveiling new designs and concepts to modify the aircraft seats backed by the current outbreak of Covid-19 pandemic.
Fortune Business Insights™ presents a list of all the aircraft seat manufacturers operating in the aircraft seating market. They are as follows:
- Jamco
- Acro Aircraft Seating
- Stelia Aerospace
- Collins Aerospace
- Mirus Aircraft Seating
- Aviointeriors
- Zodiac Aerospace
- Embraer Aero Seating Technologies (EAST)
- Zim Flugsitz
- Geven
- Thomson Aero Seating
- Expliseat
- RECARO Aircraft Seating
- Encore
- HAECO
- Innovators
- Iacobucci HF Aerospace
Quick Buy – Aircraft Seating Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101680
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Value Chain Analysis
- Global Aircraft Seating Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Class
- First Class
- Business Class
- Premium Economy Class
TOC Continued…!
Below are two of the latest industry developments:
- April 2020: Aviointeriors, a manufacturer of airline seats based in Italy, released its new designs of seats to keep up with social distancing owing to the outbreak of Covid-10 pandemic. The designs were to be presented at the Aircraft Interiors Expo. But as it was cancelled, the company exhibited its concepts online. In one of the concepts known as Janus, the middle seat is facing the rear of the aircraft and a transparent shield is placed around it to ensure maximum distance between the passengers.
- October 2019: Collins Aerospace Systems bagged a seating contract from Jet Aviation to provide three of the latter’s undisclosed V/VIP customers with double and single executive seating. It would also include VIP divan products. The single aircraft seats will be equipped with the company’s latest track-mounted and patented mini-base technology. It will aid in saving around 50% space, unlike a conventional seat base.
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