(I-BusinessNews.Com, August 17, 2020 ) The report on the Aircraft Seating Market provides a detailed trend analysis from 2016 to 2026. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.
The global aircraft seating market size is projected to grow from USD 4.1 billion in 2020 to USD 5.8 billion by 2026, at a CAGR of 5.8% from 2020 to 2026. The market is driven by various factors, such as the growing demand for seats installed with IFEC systems, increasing number of premium economy seats, and maintenance & retrofitting of existing aircraft.
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Based on end use, The OEM segment is expected to be the largest market by value. The growth of the OEM segment of the aircraft seating market can be attributed to the growing demand for seats installed with IFEC systems, increasing number of premium economy seats.
Based on aircraft type, the wide body aircraft segment is projected to be the highest CAGR rate for the aircraft seating market during the forecast period. The demand for interiors in wide boy aircraft is comparatively more than narrow body aircraft and regional transport aircraft as there is more space to install wide seats and other cabin interior products. Major airlines operating wide body aircraft are focusing on upgrading their interiors to the latest technologies.
The 16G segment is estimated to have the largest market share by value. According to the Federal Aviation Administration (FAA), passenger aircraft should have seats capable of withstanding 16 times the force of gravity to increase the chances of survivability of passengers and flight attendants in case of accidents. New seats undergo a series of tests to determine their strength, similar to crash tests which have to meet FAA safety standards.
Based on the region, the North America region of the aircraft seating market is projected to grow at the highest market share during the forecast period. This growth can be attributed to the growing demand for seats installed with IFEC systems, increasing number of premium economy seats, and maintenance & retrofitting of existing aircraft.The US government, in an effort to increase the safety & security and comfort of passengers, has instituted certain mandates, such 16g certified seats for all passenger aircraft, which, in turn, has resulted in increased R&D in designing by aircraft seating manufacturers. The increasing use of technology in aircraft presents several opportunities for aircraft seating technology manufacturers.
Key Market Players
Major aircraft seating OEM manufacturing companies of North America, including Collins Aerospace (US), HAECO (Hong Kong), Adient Aerospace (US) are competing with European and Asian companies to increase their share in the global market and manufacturers operating in this region.
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