The Aircraft Seating Market Is Estimated To Record a CAGR of Around 30.77% During The Forecast Period
Market Highlights
The Global Aircraft Seating market is projected to be valued at USD 7.24 Billion by 2033, recording a CAGR of around 30.77% during the forecast period. The Aircraft Seating Market refers to the global market for aircraft seats, which includes a wide range of seating options for different aircraft types and classes. The market is expected to grow significantly in the coming years, driven by factors such as the increasing demand for premium economy seats, the growing trend of installing IFEC systems in aircraft seats, and the increasing number of aircraft deliveries.The market is segmented by seat type, class, end-use, aircraft type, materials, components, and region.The narrowbody aircraft type segment held the largest share in 2022, and North America was the leading region in 2022.
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The COVID-19 pandemic had a significant impact on the aircraft seating market, causing uncertainty, slowing down the supply chain, and falling business confidence.The temporary lockdown of various design, development, and manufacturing facilities limited market growth, and the focus on fighting the pandemic negatively affected demand.However, the market has seen a tremendous growth post-COVID due to the regular availability of raw materials required for manufacturing.The market is expected to continue growing, with the UAM aircraft type segment expected to grow at a CAGR of 9.5% from 2020 to 2030, and the MRO use to rise at 7.9% CAGR.
Segmental Analysis
The global Aircraft Seating market has been segmented based on Type, Class , End Use , Aircraft Type and Fit
Based on the Type, the market is segmented based on 9g and 16g. Seats certified under 9g can withstand forces up to nine times the force of gravity, while 16g seats can endure forces up to sixteen times the force of gravity. This segmentation caters to varying safety requirements and preferences across different aircraft and aviation regulations.
Based on Class, the market has been divided into Business, First, Premium Economy and Economy. The premium economy class is anticipated to grow at the fastest rate among these seat type divisions, with a solid CAGR percent. This is because the demand for the premium economy class sector has increased due to the emergence of low-cost carriers. Even so, the other seat type groups showed consistent growth.
Based on the End Use, the market has been divided into OEM, Aftermarket and MRO. Original Equipment Manufacturers (OEM) produce seating during aircraft manufacturing. Aftermarket services cater to replacement and upgrade needs post-delivery. Maintenance, Repair, and Overhaul (MRO) focus on servicing existing seating to ensure safety and compliance throughout the aircraft’s operational lifespan.
Based on Aircraft Type, the market has been divided into Narrow Body Aircrafts, Wide Body Aircrafts, Very Light Aircraft, Regional Transport Aircrafts and Business Jets. The wide body type is predicted to increase at the quickest rate among the aforementioned body types and is expected to reach the highest CAGR over the forecast period. Compared to other aircraft segments, wide-body aircraft have a somewhat larger need for better interiors.
Based on Fit, the market has been divided into Line Fit and Retrofit. Both the segments account significant growth rate with a decent CAGR during the assessment period.
For More Information: https://evolvebi.com/report/global-aircraft-seating-market-analysis/
Regional Analysis
The Aircraft Seating market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. The North America region holds a dominant position in the Aircraft Seating market. North America will continue to lead the global aircraft seating market. By 2029, North America is anticipated to have the most market shares, or xx%. This is because the area is home to a sizable population of high net worth individuals. It is anticipated that their presence will increase demand for business class travel. In fact, business class seating will experience a surge in demand during the forthcoming time in North America in line with market trends. Throughout the projected period of 2022–2029, these are the main factors propelling the expansion of the North American region in the worldwide market. The Asia Pacific region is witnessing rapid growth and emerging as a significant market for the Aircraft Seating industry. Over the course of the projection period, Asia Pacific is anticipated to grow quickly at a CAGR of xx%. Operational competence of aircraft OEMs, including Mitsubishi, is anticipated to drive the Asia Pacific market throughout the projection period. During the forecast period of 2022-2029, this is the primary element propelling the expansion of the Asia Pacific region in the worldwide market.
