The report, now available on ASDReports, "Aircraft Seating Market by Aircraft Type (NBA, WBA, VLA, and RTA), Seat Class (First, Business, Premium Economy, and Economy), Component (Seat Actuators, Foam & Fittings), Fit (Line-Fit, And Retrofit) and Region - Forecast to 2021", The global aircraft seating market is projected to reach USD 16.94 Billion by 2021, at a CAGR of 14.15% from 2016 to 2021. Factors such as increased demand for new aircraft globally, rise in air traffic, and upgradation of aircraft programs are expected to drive the global aircraft seating market.
The business class to dominate the global aircraft seating market with the highest market share
On the basis of seat class, the business segment dominates the global aircraft seating market with the largest market share and is expected to continue its dominance over the next five years. The demand for business class seats is primarily driven due to the significant increase in air travel globally. The premium economy class segment is expected to grow at the second highest CAGR during the forecast period.
The very large aircraft (VLA) segment is expected to grow at the highest pace during the forecast period
The VLA segment of the global aircraft seating market is expected to grow at the highest CAGR during the forecast period. It is expected to dominate the market due to the growing prominence of advanced and comfortable aircraft seat design in the very large aircraft.
The global aircraft seating market is expected to witness the highest growth in the Asia-Pacific region
The aviation industry in the Asia-Pacific region has been witnessing strong growth over the past few years. This growth, which is mainly driven by the increasing demand for new aircraft deliveries and increasing air traffic in this region, is expected to boost the global aircraft seating market. The aviation industry’s growth can also be attributed to the increase in trade & tourism, as well as the increasing disposable incomes of the middle class population in emerging economies, such as India and China.
Key players in the global aircraft seating market include B/E Aerospace, Inc. (U.S.), Zodiac Aerospace (France), RECARO Aircraft Seating GmbH & Co. KG (Germany), Aviointeriors S.p.A. (Italy), Acro Aircraft Seating (U.K.), Thompson Aero Seating Ltd. (U.K.), and ZIM Flugsitz GmbH (Germany), among others
Source: ASDReports - Market Research
Date: Oct 4, 2016