The global aircraft seating market is poised to grow at a CAGR of 12.9% during the forecast period 2017-2026
Albany, NY -- (SBWIRE) -- 02/01/2018 -- This research report offers a comprehensive analysis of the "Aircraft Seating Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2026" The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.
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Growing adoption of air travel among consumers seeking transport options has driven the demand for aircraft seating. Airline passengers are expecting highest degree of comfort, especially while travelling to long distances, which entails them spending more than 24 hours seated in an aircraft. Manufacturers in the global aircraft seating market are catering to these requirements and improving the comfort levels of their products. In addition, stringent regulations on passenger safety has propelled the safety provisions on aircraft seats. In the near future, aircraft seats will be mainly responsible in keeping the passengers safe in the event of air turbulences and improper landings & take-offs.
According to Transparency Market Research, global sales of aircraft seats are expected to witness a robust growth in the upcoming years. In its report, the global aircraft seating market is poised to grow at a CAGR of 12.9% during the forecast period 2017-2026. The report further reveals that by the end of 2026, more than US$ 27.5 Bn worth of aircraft seats are likely to be sold globally. Key factors influencing the growth of the global aircraft seating market have been analyzed in the report. Primarily, the production of aircraft seats will be alleviated due to reducing complexities in procurement of raw fabrics and technical textiles. Increasing use of hybrid composite materials in production of aircraft seats is likely to put manufacturers at ease. Meanwhile, the demand for aircraft seats is expected to surge on the grounds of increasing participation in the global air transport landscape, reducing air travel fares, and efficient designs of aircraft allowing maximum seating capacity..
Narrowbody Aircrafts to Exhibit Wider Presence on Global Revenues through 2026
With respect to the type of aircraft, narrrowbody aircrafts are expected to account for largest share on global aircraft seating market revenues throughout the forecast period. Airline companies around the world are predominantly using narrowbody aircrafts, which is compelled the manufacturers to shift their focus. Aircraft seats designed for narrowbody jets are developed by taking space optimization into consideration. Over the forecast period, seats sold for narrowbody aircrafts are expected to record fastest sales in the global market, registering an estimated CAGR of 13.6%. On the other hand, small passenger widebody aircrafts are also expected to account for a considerable share on global market value. In 2017, over US$ 1 Bn worth of aircraft seats sold in the global market were fitted in small passenger widebody aircrafts.
Economy Class Seating to Remain Lucrative for Manufacturers
For aircraft seating manufacturers, higher sales of first class seats guarantee high profit margins. However, limited seating capacity of first class curbs the overall profits for companies. During the forecast period, a majority of companies are expected to focus on increasing the production of aircraft seats for economy class. By the end of 2026, more than two-third of revenues procured in the global aircraft seating market will be accounted by the sales of economy class aircraft seats.
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Retro-fitted Aircraft Seats to Account for Higher Revenue Share through 2026
The type of fittings have an instrumental role in influencing the sales of aircraft seats. A majority of airline companies prefer retrofitting of aircraft seats as the basic configuration of seating spots is not altered during the fitting process. The report projects that retrofitting will account for the largest share of revenues in the global aircraft seating market through 2026. By the end of 2026, more than US$ 18 Bn worth of aircraft seats are expected to retro-fitted into aircrafts across the globe.
Key Manufacturers in Global Aircraft Seating Market
Leading aircraft seating manufacturers have been profiled in the report, which include Zodiac Aerospace Group, RECARO Aircraft Seating GmbH & Co. KG, B/E Aerospace, Inc., JAMCO Corporation, Aviointeriors S.p.A, Acro Aircraft Seating, Geven S.p.A, Mirus Aircraft Seating Ltd, Thompson Aero Seating Ltd, and ZANKER PROMOTION GMBH. These companies are expected to instrument the expansion of the global aircraft seating market in the years to come. A majority of these companies are expected to focus on developing seats with ergonomic designs and enabling cost-effective production through optimized use of raw materials such as polymer, textiles, and composite metals.
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