DETROIT, Feb. 27, 2020 /PRNewswire/ -- Stratview Research announces the launch of a new market research report on Aircraft Seats Market By Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Body Aircraft, Regional Aircraft, and Business Jet), By Seat Class Type (First-Class Seats, Business-Class Seats, Premium-Economy-Class Seats, and Economy-Class Seats), By Component Type (Soft Goods, Metals, Plastics and Composites, and Electric), By Fit Type (Line Fit and Retrofit), and By Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's aircraft seats market realities and future possibilities for the forecast period 2020 to 2025. The report segments and analyzes the market in the most comprehensive manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits available as well as formulate growth strategies.
Aircraft Seats Market: Highlights
Among aircraft interiors, aircraft seats stand at the second position after inflight entertainment & connectivity and are estimated to grow at a healthy pace in years to come. Aircraft seats are one of the applications that have witnessed a remarkable transition over the years. All the major seat manufacturers have been investing huge on R&D in order to develop products addressing the existing as well as upcoming market requirements. Introduction of stringent regulations regarding passenger safety further propels the innovations in the market. For instance, aircraft seats are required to withstand a dynamic 16g force. In the 16g test, two distinct dynamic tests are conducted, which ultimately stimulates the load that could be expected in an impact-survivable accident. This helps passengers in case of a fatal accident. The selection of materials for seating applications largely depends upon such regulations. Composite parts excel in most of the parameters with the advantage of being light in weight.
Despite recent industry concerns over grounding of B737 max, P&W 1100G engine series failure (A320neo), delayed deliveries of upcoming aircraft programs such as B777X, revised production rates of key aircraft programs A350XWB and B787 due to cancellation of Boeing's orders from China and other parts of the world, the long-term market outlook still seems vigorous. Apart from the organic growth of the industry, several other factors are propelling the demand for seats in the aircraft industry. Some of those factors are a shift from first-class seats to business-class seats, advancements in interiors of the latest aircraft programs prompting airlines to upgrade the interior of the existing fleet and increasing preference of airlines for premium-economy-class seats.
Stratview's estimates suggest that the market for seats in the aircraft industry is set to grow at a CAGR of 4.7% over the next five years to reach US$ 6.0 billion in 2025. Organic growth of the aircraft industry is anticipated to remain the biggest growth propeller. Both Boeing and Airbus are projecting healthy demand for commercial and regional aircraft in the next twenty years in their business outlooks. Boeing, in its outlook 2019-2038, projected that there will be need for 44,040 commercial and regional aircraft during 2019-2038 out of which narrow-body aircraft will account for almost 78% share. Airbus too has similar projections in its business outlook of 2019-2038.
Click Here and Run Through the Detailed TOC of the Report: https://www.stratviewresearch.com/toc/250/Global-Aerospace-Seating-Market.html
Based on the aircraft type, narrow-body aircraft is projected to remain the largest segment of the market during the forecast period of 2020 to 2025. Market entry of new aircraft programs, COMAC C919, A321 XLR, and Irkut MC-21, and increasing production rates of key aircraft programs, such as the A320 family, are likely to be the growth engines of the narrow-body aircraft segment of the market during the forecast period.
Based on the seat type, the economy-class seat type is projected to remain the largest segment of the market in terms of units during the forecast period of 2020 to 2025; propelled by a large number of passengers travelling in economy-class cabin and growing number of LCCs (Low-cost carriers) across the world. However, premium-economy-class and business-class seats are witnessing a greater adoption across the world and are growing at a faster pace than others.
Based on component type, the market is segmented as soft goods, metals, plastics and composites, and electric. An aircraft seat is made with many small and mid-size components. The share of metal components to electrical components varies from aircraft to aircraft and from one seat-class type to another. For instance, a first-class seat includes large number of electrical components to provide maximum comfort and wider functions to the passenger, whereas an economy-class seat can constitute little or no electric components.
Register Here and Ask for a Free Sample on the Exclusive Report: https://www.stratviewresearch.com/Request-Sample/250/Global-Aerospace-Seating-Market.html
In terms of region, North America currently holds the largest share of the global aircraft seat market and is projected to remain the largest aircraft seat market during the forecast periodas well. The region is the assembly base of all the commercial and regional aircraft programs of Boeing and Bombardier. Airbus has recently expanded its first assembly plant for its A320 in Alabama (the USA), to increase the production of A320 from five to seven per month. Also, Airbus has started production of A220 in the same plant. The region also owns one of the largest commercial aircraft fleets in the world.
Asia-Pacific is expected to register the highest growth over the next five years, driven by upcoming commercial and regional programs, such as COMAC C919 and Mitsubishi SpaceJet. Furthermore, the region owns the largest commercial aircraft fleet worldwide. This will create a sustainable demand for seats at the retrofit level. China and India are the growth engines of the Asia-Pacific's aircraft seat market.
The supply chain of this market comprises raw material suppliers, aircraft seat components suppliers, aircraft seat manufacturers, distributors, aircraft OEMs, airlines, aircraft leasing companies, and MRO companies. Some of the key players in the aircraft seats market are Safran S.A., Collins Aerospace, Stelia Aerospace, RECARO Aircraft Seating GmbH & CO. KG, Aviointeriors S.p.A, Acro Aircraft Seating Ltd, Thompson Aero Seating Ltd., Geven S.p.A., and ZIM Flugsitz GmbH. Long-term contracts and new product development are the key strategies adopted by major players to gain a competitive edge in the global market.
The aircraft interiors market witnessed the most noticeable number of M&As in the past five years where the two biggest giants (Zodiac Aerospace and B/E Aerospace) were acquired by other aerospace conglomerates. For instance, in 2017, Rockwell Collins completed the acquisition of B/E Aerospace with a transaction value of US$ 8.6 billion, to strengthen its position and to expand its portfolio in the cockpit and cabin interior solution. With this acquisition, the company has not only entered the aircraft seating business but also become the market leader in it. Similarly, in 2018, Safran S.A. acquired Zodiac Aerospace with a transaction value of US$ 9 billion and its business is restructured into three divisions: seats, cabin equipment, and aerosystems. The acquisition of Zodiac Aerospace helped the company gain capabilities in the aircraft interiors market including seats and further strengthen its capabilities in AeroSystems and AeroSafety products.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors
This report studies the global aircraft seats market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
Aircraft Seats Market by Aircraft Type:
- Narrow-Body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Wide-Body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Very Large Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Business Jets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Seats Market by Seat Class Type:
- First-Class Seats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Business-Class Seats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Premium Economy-Class Seats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Economy-Class Seats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Seats Market by Component Type:
- Soft Goods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Metals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Plastics and Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Electric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Seats Market by Fit Type:
- Lint Fit (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Retrofit (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Seats Market by Region:
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
- Rest of the world (Country Analysis: Middle East, Latin America, and Others)
Stratview Research has number of high value market reports in the global aerospace & defense industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Aerospace-Defense.html
Our other related premium market report:
Aircraft Soft Goods Market by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, and Helicopter), by Product Type (Carpet, Seat, Curtains, and Others), by Material Type (Wool/Nylon Blend Fabric, Nylon Yarn, Natural Leather, Synthetic Leather, Polyester Fabric and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Size, Share, Trend, Forecast, & Competitive Analysis: 2019-2024.
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
For enquiries,
Contact:
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176
Logo: https://mma.prnewswire.com/media/660595/Stratview_Research_Logo.jpg
