Aircraft Seating Market Set to Soar to USD 4.23 Billion by 2030, Fueled by a 6.8% CAGR
Apr 17, 2024
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Aircraft Seating Market Overview
Aircraft Seating Market Size Anticipated to reach at a USD 4.23 Billion by 2030, registering a CAGR of 6.8% during 2020-2030.
The global aircraft seating market is likely to demonstrate notable growth, with various airline companies focusing on improving cabin interiors to provide world-class experiences to passengers and enhance their brand value.
upgrade aircraft interiors have grown significantly. Aircraft interior companies are increasing in numbers, primarily due to the rising demand for full completion/refurbishment of used aircraft & helicopters. Moreover, the advent of advanced technologies in aircraft repair and maintenance services accelerates the aircraft seating market shares.
The increase in the global economy is another major driving force. Factors such as the growing emphasis on developing advanced aircraft and increasing fleets of aircraft worldwide substantiate the aircraft seating market size. Furthermore, the growing use of seats made of lightweight materials to increase fuel efficiency propels the aircraft seating market revenues.
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Market Competitive Analysis
Highly competitive, the aircraft seating market appears fragmented, with the presence of several well-established players. They initiate strategies such as mergers & acquisitions, collaboration, expansion, and technology launch to gain competitive advantage. Industry players focus on developing in-house manufacturing capabilities and newer technologies. To meet their goals, they increase their R&D investments.
Major Players
Leading aircraft seating market players include Hong Kong Aircraft Engineering Company Limited (Hong Kong), B/E Aerospace, Inc. (US), Zodiac Aerospace (France), ACRO Aircraft Seating Ltd (UK), Recardo Aircraft Seating GmbH & Co.KG (Germany), Aviointeriors SpA (Italy), GEVEN SpA (Italy), ZimFlugsitz GmbH (Germany), JAMCO Corporation (US), and Thompson Aero Seating Ltd (UK), among others.
Market Segmentation
The report is segmented into seat types, aircraft types, fit, and regions. The seat type segment is sub-segmented into the economy, premium economy, business class, and first class. The aircraft type segment is sub-segmented into wide-body, narrow-body, and regional transport aircraft. The fit segment is sub-segmented into line fit and retrofit. BY region, the aircraft seating market is segmented into the Americas, Europe, Asia-Pacific, and the rest of the world.
Market Regional Analysis
North America leads the global aircraft seating market. The rising demand for aircraft seats due to the presence of several airline companies in the region drives the market growth. Also, the growing numbers of private jets and industry players positively impact the region's aircraft seating market shares. Moreover, favorable government policies pertaining to the manufacturing of seating solutions and the repair & maintenance works in this region foster market growth.
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Industry/ Innovation/ Related News
Aug. 10, 2023 -Aviation component maker Aequs (India) announced that it has entered the aircraft seat business. The company is setting up a dedicated facility for seat manufacturing. It has already bought a supply contract from Belagavi Aerospace Cluster (BAC), which will be a part of the aerospace ecosystem. According to the components manufacturer, its Belgaum plant is the country's first aircraft seat manufacturing line. Besides, the company plans to manufacture plastic components in aircraft cabins.
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