Albany, NY -- (SBWIRE) -- 03/05/2018 -- The highly fragmented vendor landscape of the global aircraft actuation systems market is currently led by companies such as Zodiac Aerospace, Buhler Motor GmbH, B/E Aerospace, and Rollon S.P.A, states Transparency Market Research (TMR) in its recent market study. Despite the prevailing competition, the market provides ample opportunities for the entry of new players offering innovative technologies. The market requires significant initial investment for research and development, which not many players find encouraging. However, it is likely to provide lucrative returns in the long run.
"A majority of the companies operating in the market are focusing on product development and investing in extensive research and development activities to gain a competitive advantage," said a lead TMR analyst.The global aircraft seat actuation systems market to reach US$382.2 mn by the end of 2021. The market was valued at US$150 mn in 2014. If these figures hold true, the global aircraft seat actuation systems market will report an impressive 13.1% CAGR between 2015 and 2021.
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Rising Air Travels will Fuel Demand for Aircraft Seat Actuation Systems
Surging air travels have been fuelling demand for more comfortable flight experience. Manufacturers are therefore focusing on ergonomic seat designs to help passengers maintain a comfortable and correct seating position. Appropriate seat designs are also necessary for pilots and flight crew members to ensure comfort and reduce fatigue from being seated for long hours. Comfortable seating is deemed necessary to allow pilots operate aircrafts efficiently. These are primary factors fuelling demand for aircraft seat actuation systems.
Furthermore, the demand for air travel has remarkably increased in the last couple of years. The number is poised to surge exponentially in the forthcoming years, thus creating demand for advanced aircraft seat actuation systems in response. Besides, the rising demand for premium air travel will aid the expansion of the aircraft seat actuation systems market as well.
Emerging Concept of Low Frill Airlines Dampens the Market's Growth
"Despite the overall growth trends for the market being positive, rising concept of low frill airlines is dampening its growth to an extent," said a TMR analyst. The low frill airlines mainly aim to provide low cost travel solutions. The concept is gaining significance as an increasing number of consumers are starting to use low frill airlines. Since these planes offer lesser air fares, the comfort quotient has been compromised with. This in turn presents a key challenge for aircraft seat actuation system manufacturers.
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The high cost of aircraft ownership and maintenance is also acting as a restraint for purchasing aircrafts in bulks. This subsequently limits the scope of sales aircraft seat actuation system manufacturers.
Market Sees Growth Opportunities in the Latest Technological Advancements
Despite incumbent challenges, the aircraft seat actuation systems market is likely to gain from the recent technological advancements. In the forthcoming years, the aircraft seat actuation systems are expected to become lightweight in nature, while offering enhanced comfort to passengers. Additionally, the ongoing technological development is focused on producing intelligent seat actuation systems will flexible design and less noise. Such technological developments are expected to fuel growth opportunities for the market in the forthcoming years.
By type, the business class accounted for the dominant share of 32% in 2014. The rising demand for comfortable flight experience during international trips is fuelling demand from this segment.
Regionally, Europe dominated the global aircraft seat actuation systems market, followed by North America. The Europe market significantly gains from the presence of several prominent enterprises in the region and is thus projected to reach US$131.1 mn by the end of 2021.
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This review is based on a recent market study published by Transparency Market Research, titled "Aircraft Seat Actuation Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021."