The recovery of the aviation sector from 2007-08, the global economic crisis has helped the commercial aircraft manufacturers with new orders. Majority of the orders are from emerging regional economies like APAC & BRIC.
DALLAS – According to new market research report, “Global Commercial Aviation Aircraft Seating Market, Forecasts & Analysis (2012-2017)”, published by MarketsandMarkets, the total global commercial aviation aircraft seating market is expected to reach $4.86 billion by 2017 with a CAGR of 5.27%.
The recovery of the aviation sector from 2007-08, the global economic crisis has helped the commercial aircraft manufacturers with new orders. Majority of the orders are from emerging regional economies like APAC & BRIC. The manufacturers are increasing their aircraft production capacity alongside with innovative aircrafts aimed at fuel efficiency. The industry is witnessing new entrants from emerging economies in narrow body segment. These in turn are acting as boon for the Aircraft Components Manufacturers. Coupled with the increase in orders for existing models and new models expected to enter the market the aircraft seating industry is expected to grow at 5.27% during the period of 2012 to 2017. It is expected that the aircraft seating market in China will witness the highest growth rate.
Airlines are currently trying to tackle the rising fuel price which is a major challenge. This has forced the airlines to enhance the passenger carrying capacity in their seating configurations. There has been immense research & development in areas of slimmer, lighter seats.
Low Cost Carriers (LCC) comprises of 63% in the global fleet size. LCCs uses single aisle Narrow Body Aircrafts, majority of the LCC Narrow Body configurations are economy class seats. On the contrary, Very Large Aircraft like the A380 includes the most luxurious aircraft seats – the Suites.
The global commercial aviation aircraft seating market revenue is expected to grow from $3.76 billion in 2012 to $4.86 billion by 2017. Global commercial aviation aircraft seating market is majorly driven by the growth of demand of fuel efficiency. Increase in air travel across region is also one of the drivers for this market.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
