According to Custom Market Insights (CMI), The Global Aircraft Seating Market presented a growth of USD 6.94 billion in 2021 and is expected to touch USD 9.25 billion by the end of 2030, growing at a compound annual growth rate of 4.19%.
The increasing demand for advanced seating options for aircraft, but the key market players are helping the market to record considerable revenue over the period. Using advanced materials for manufacturing aircraft seats helps provide a premium experience to potential consumers. Various advanced technologies, such as 16G and 21G, have boosted potential consumers’ demand for aircraft seats. In addition, the significant number of people who travel by aircraft regularly for business and casual traveling has increased the demand for aircraft seating considerably.
Browse the complete “Aircraft Seating Market Size, Trends, and Insights By Aircraft Type (Regional Aircraft, Commercial Aircraft, Business jets, Transport aircraft), By Class (Premium economy class, Economic class, First class, Business class), By Seat Type (16G seats, 9G seats, 21G seats), By Component (Structure, Actuators, Forms, Electrical fittings, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/aircraft-seating-market/
Market Dynamics
Drivers
The increasing demand for advanced facilities and technologies provided with seating options in aircraft has boosted the market to a great extent. The rising demand for connectivity and entertainment inside the flight has increased the demand for advanced electrical components, providing potential consumers with a premium facility while traveling. The massive number of people opting for aircraft traveling worldwide has emerged as a significant driving force for the aircraft seating market. Increasing disposable income available to the people has also boosted the number of passengers traveling by aircraft daily.
Restraints
The increasing fuel prices have been a major restraining factor for the growth of the aviation industry. The profits from the aviation industry are not huge; hence, the market suffers a tremendous loss. The absence of advanced infrastructure and aircraft design is another restraining factor to the market’s growth. The high taxes which the government has imposed on the aviation industry has emerged as a significant obstacle to the development of the market.
Opportunities
The increasing demand for aviation facilities among developing countries has emerged as a significant opportunity for the aircraft seating market, which is expected to increase in the future. The considerable number of people opting for travel by aircraft has emerged as a significant growth factor for the market. In addition, the advanced technologies introduced by the key market players are attracting potential consumers, which is expected to boost the market’s growth to a tremendous level.
Challenges
The aviation industry has to face challenges as far as profit and the economy are concerned. In addition, the rules and regulations imposed by the government through taxes have challenged the market’s growth to a great extent. Finally, the pandemic outbreak considerably impacted the aviation industry, challenging the call to a great time. These multiple reasons emerge as challenges to the market’s growth during the forecast period.
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Report Highlights
Based on aircraft type, the segment of commercial aircraft has emerged as the largest segment owing to the significant number of people opting for these facilities worldwide. A premium experience is expected by the people who travel by commercial aircraft, which encourages the key market players to use the most premium technologies and facilities for manufacturing the seats. Based on class, the economic class segment has emerged as the largest segment owing to the significant number of people traveling by this particular class of the cost-effective options provided.
In addition, a limited disposable income is available to the people, which enables them to opt for these facilities. Based on seat type, the element of 16G seats has emerged as the largest segment owing to the huge demand and supply experienced by the manufacturers, as these seats have been used recently in almost every aircraft.
The segment of 21G seats is seeing tremendous growth owing to the increasing demand among the key market players. Based on components, the structure segment has emerged as the largest segment of the rising demand for aerodynamically advanced lightweight structures, helping to boost the demand and supply for these components. Based on end-user, the element of O.E.M. has emerged as the largest segment. Finally, based on geography, North America’s region has emerged as the largest market.
Regional Snapshots
The region of North America has emerged as the leading market segment of the recent advancements in the technology field, which has experienced a massive demand from potential consumers. The major manufacturers of the aircraft seating market in this region have also emerged as a significant growth factor, helping the need to record considerable revenue over the period. Advanced seating options, which have been introduced into the market of North America, have helped the manufacturers register significant income over time.
Key Players
- Aviointeriors S.p.A.
- Geven S.p.a.
- Acro Aircraft Seating Ltd
- Airbus S.A.S.
- Jamco Corporation
- Raytheon Technologies Corporation
- Swire Pacific Limited
- The Aviation Industry Corporation of China, Ltd.
- Recaro Aircraft Seating GmbH & CO. KG
- Safran
Table of Contents: https://www.custommarketinsights.com/report/aircraft-seating-market/#table-of-contents
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