Aircraft Seat Market to offer a healthy CAGR of 6.0% during 2020-25
February 18, 2020
Aircraft Seat Market Overview:
Stratview Estimates’ suggest that the market for seats in the aircraft industry is set to grow at a CAGR of 4.7% over the next five years to reach US$ 6.0 billion in 2025. Organic growth of the aircraft industry is anticipated to remain the biggest growth propeller. Both Boeing and Airbus are projecting healthy demand for commercial and regional aircraft in the next twenty years in their business outlooks. Boeing, in its outlook 2019-2038, projected that there will be the need for 44,040 commercial and regional aircraft during 2019-2038 out of which narrow-body aircraft will account for almost 78% share. Airbus too has similar projections in its business outlook of 2019-2038.
Report Overview:
This new report from Stratview Research analyses the Aircraft Seat Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Get a free sample of the report here:
https://www.stratviewresearch.com/Request-Sample/250/Global-Aerospace-Seating-Market.html
Aircraft Seat Market Segment Insights:
Narrow-body aircraft: The growth engine
On the basis of aircraft type, the aircraft seat market is segmented as narrow-body aircraft, wide-body aircraft, very large body aircraft, regional aircraft, and business jets. Narrow-body aircraft is projected to remain the largest segment of the market during the forecast period of 2020 to 2025. Market entry of new aircraft programs, COMAC C919, A321 XLR, and Irkut MC-21, and increasing production rates of key aircraft programs, such as the A320 family, are likely to be the growth engines of the narrow-body aircraft segment of the market during the forecast period.
Click below to run through the detailed ToC of the report:
https://www.stratviewresearch.com/toc/250/Global-Aerospace-Seating-Market.html
Dominance of: Economy class seat
Based on seat class type, the market is segmented as first-class seats, business-class seats, premium-economy-class seats, and economy-class seats. The economy-class seat type is projected to remain the largest segment of the market in terms of units during the forecast period of 2020 to 2025; propelled by a large number of passengers traveled in the economy-class cabin and the growing number of LCCs (Low-cost carrier) across the world. Premium-economy-class and business-class seats are witnessing a greater adoption across the world and are growing at a faster pace than others.
Based on component type, the market is segmented as soft goods, metals, plastics, and composites, and electric. An aircraft seat is made with many small and mid-size components. The share of metal components to electrical components varies from aircraft to aircraft and from one seat-class type to another. For instance, a first-class seat includes a large number of electrical components to provide maximum comfort and wider functions to the passenger, whereas an economy-class seat can constitute little or no electric components.
A highly/moderately/fragment consolidated Market
Some of the key players in the aircraft seats market are Safran S.A., Collins Aerospace, Stelia Aerospace, RECARO Aircraft Seating GmbH & CO. KG, Aviointeriors S.p.A, Acro Aircraft Seating Ltd, Thompson Aero Seating Ltd., Geven S.p.A., and ZIM Flugsitz GmbH. Long-term contracts and new product development are the key strategies adopted by major players to gain a competitive edge in the global market.
The supply chain of this market comprises raw material suppliers, aircraft seat components suppliers, aircraft seat manufacturers, distributors, aircraft OEMs, airlines, aircraft leasing companies, and MRO companies.
Regional Hegemony of North America
In terms of region, North America currently holds the largest share of the global aircraft seat market and is projected to remain the largest aircraft seat market during the forecast period. The region is the assembly base of all the commercial and regional aircraft programs of Boeing and Bombardier. Airbus has recently expanded its first assembly plant for its A320 in Alabama, the USA to increase the production of A320 to seven per month from five. Also, Airbus has started production of A220 in the same plant. The region also owns one of the largest commercial aircraft fleets in the world.
Asia-Pacific is expected to register the highest growth over the next five years, driven by upcoming commercial and regional programs, such as COMAC C919 and Mitsubishi SpaceJet. Furthermore, the region owns the largest commercial aircraft fleet worldwide. This will create a sustainable demand for seats at the retrofit level. China and India are the growth engines of the Asia-Pacific's aircraft seat market.
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