NEW YORK, Oct. 4, 2016 /PRNewswire/ -- "Growing air traffic is the key factor impacting the growth dynamics of the global aircraft seating market"
The global aircraft seating market is expected to grow from USD 8.74 billion in 2016 to USD 16.94 billion by 2021, at a CAGR of 14.15% from 2016 to 2021. The market is mainly driven by factors such as the increasing air traffic, aircraft deliveries, and upgradation of aircraft programs. Similarly, factors such as the requirement of huge investments and a longer clearance period are the biggest restraints for this market.
"The VLA segment of the global aircraft seating market is expected account for the largest share during the forecast period"
The key segments considered in the aircraft type are NBA, WBA, VLA and RTA. The VLA is projected to account for the largest share during the forecast period, owing to the increasing demand for Boeing's 747-8 and Airbus' A380. The WBA segment accounted for the second largest share of the global aircraft seating market in 2016.
"The seat actuator subsegment is expected to grow at the highest pace during the forecast period"
The key subsegments of the aircraft seating component segment are seat actuators, foam & fittings and others. Among them, the seat actuator subsegment is projected to grow at the highest CAGR during the forecast period, as there is an increase in the requirement of actuators for advanced seat design. They are installed at the seat back, seat heads, seat rest, and so on with consideration for passenger comfort. The others segment accounted for the largest share of the global aircraft seating market, by component, in 2016.
"North America led the global aircraft seating market, whereas the market in the Asia-Pacific region is projected to grow at the highest rate"
In 2016, North America led the global aircraft seating market, and is expected to continue its dominance till 2021. North America has the maximum number of aircraft seat manufacturers. The aircraft seating market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. Growth in air travel is the major reason behind the increased orders for aircraft, which is expected to boost the global aircraft seating market.
Break-up of profile of primary participants for the global aircraft seating market.
- By Company Type - Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation – C level – 35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Major companies profiled in the report include B/E Aerospace, Inc. (U.S.), Zodiac Aerospace (France), RECARO Aircraft Seating GmbH & Co. KG (Germany), and Geven S.p.A (Italy) among others.
This research report categorizes the global aircraft seating market into the following segments and subsegments: On the basis of aircraft type (NBA, WBA, VLA, & RTA), on the basis of seat class (first class, business class, premium economy class and economy class), on the basis of component (seat actuators, foam & fittings, and others), and on the basis of fit (line-fit and retrofit), and maps these segments and subsegments across major regions worldwide, namely, North America, Europe, Asia-Pacific, the Middle East, and Rest of the World.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the global aircraft seating market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on galley equipment offered by the top players in the global aircraft seating market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the global aircraft seating market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for aircraft seating across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global aircraft seating market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global aircraft seating market
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