The global Commercial Aviation Aircraft Seating Market is estimated at $5991 Million in 2014 and is projected to reach $7910 million in 2019. The major challenges for this particular industry will be to control emissions from the aircraft, poor quality of equipment, and increase in fuel prices.
DALLAS – According to a new market research report “Commercial Aviation Aircraft Seating Market by Aircraft Type (NBAWBA, VLA , BGA), by Seat (Economy Class, Premium Economy Class, Business Class, First Class, Suite class), by Geography (North America, Asia-Pacific, Europe, The Middle East, Latin America, Africa) – Forecasts & Analysis to 2014 – 2019” published by MarketsandMarkets, The global Commercial Aviation Aircraft Seating Market is estimated at $5991 million in 2014 and is projected to reach $7910 million in 2019. The major challenges for this particular industry will be to control emissions from the aircraft, poor quality of equipment, and increase in fuel prices.
The recovery of the aviation sector from 2007 to 2008 from the global economic crisis has helped the commercial aircraft manufacturers garner new orders. A majority of the orders are from emerging regional economies such as Asia-Pacific. The manufacturers are increasing their aircraft production capacity along with innovative aircraft aimed at fuel efficiency. The industry is witnessing new entrants from emerging economies in the narrow body segment. These in turn act as a boon for aircraft component manufacturers. Coupled with an increase in orders for the existing models, new models are expected to enter the market. The aircraft seating industry is expected to grow at a CAGR of 5.71% from 2014 to 2019.
The airlines are currently trying to tackle a major challenge – the rising fuel prices. This has forced the airlines to enhance the passenger carrying capacity in their seating configurations. There has been immense research and development in areas of slimmer and lighter seats.
The global commercial aviation aircraft seating market is currently valued at $5,991 million. The market is expected to grow in tandem with growth in the aviation sector. Existing delivery backlogs, the rising demand of aircraft in the fast growing regional economies, new aircraft models, and emerging aircraft manufacturers are the key drivers for the commercial aircraft seats manufacturing industry.
The economic crisis has forced airlines to postpone their retrofit programs as well as delay the delivery of new aircraft. The retrofit market is expected to grow as a large number of retrofit programs had been postponed due to financial reasons and will now be launched. The recovery in the global economy has helped commercial aircraft manufacturers with new orders. Major aircraft orders are from developing economies such as Brazil, Russia, India, and China. With respect to the number of aircraft orders, the Middle East and Asia-Pacific are ahead when compared to Europe and North America.
Globally, there is a huge demand in the aircraft cabin seats interior market to reduce the aircraft weight and to provide the passenger more space for their luggage. A number of innovation programs are in progress to develop lightweight cabin interiors and seats to increase the overall efficiency of the aircraft.
In this report, the commercial aviation aircraft seating market is broadly segmented into seat types such as suite class, first class, business class, premium economy class and economy class. The economy class seat market holds the highest market share of about 49.20%. The current market for economy class seats is valued at $2,947.59 million and is estimated to grow at a CAGR of 6.27% during the forecast period. An increase in air travel, increasing aircraft orders, and increasing demand for low cost carriers are the major driving forces for the commercial aviation aircraft seating market.
The retrofit market for aircraft seats is the highest for wide body aircraft, followed by narrow body aircraft. Currently, it is estimated that the retrofit market for wide body aircraft is expected to grow at a CAGR of 4.97%. North America has a market share of about 50.72% for retrofit aircraft seats. The emerging economies such as countries in the APAC region have a market share of about 22.80%. Experts and various other sources have given their opinions as to how the airlines in the recent past pay more attention to the layout of cabins, interior designing, in-flight entertainment, and communications rather than the aircraft performance levels. This typically means that even if the deliveries of aircraft and orders are delayed in the recent past and present, the airlines will always redesign or upgrade their cabins in order to get an additional market share at reduced expenses when compared to the price of a new aircraft. Hence,this has increased the demand for the redesigning of international cabins that is further expected to grow.
North America has the largest market share of about 50.72% in the market. It is followed by the Asia-Pacific region that has a market share of about 22.80%. Compared to mature markets, the Asia-Pacific region shows high potential for growth and is driven by the increasing air traffic in the region.
The commercial aviation aircraft seating market is a diversified and competitive market with a large number of players. The commercial aviation aircraft seating market is dominated by various players,depending on their core competencies. The key players in this market are B/E Aerospace, Zodiac Aerospace, Aviointeriors, Acro Aircraft Seating, and Timco Aerosystems.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
