Global Aircraft Seating Market Likely to Expand Robustly at CAGR of 12.9% during 2017-2026
Growing inclination of consumers towards air transport has driven the demand for aircraft seats as airline companies are actively focusing maximizing the seating capacities of the aircrafts. Manufacturers of aircraft seats are using composite materials and hybrid textiles in production, which has further propelled their profit margins and made aircraft seat manufacturing cost-effective. Companies namely, Zodiac Aerospace Group, B/E Aerospace, Inc, RECARO Aircraft Seating GmbH & Co. KG, Aviointeriors S.p.A, JAMCO Corporation, Geven S.p.A, Acro Aircraft Seating, Mirus Aircraft Seating Ltd, ZANKER PROMOTION GMBH, and Thompson Aero Seating Ltd are observed as the leading manufacturers in the global aircraft seating market, with majority of them aiming at development of ergonomically-designed aircraft seats.
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These companies have been extensively profiled in a recent forecast study developed by Transparency Market Research. According to the report, revenues netted by these companies over the past few years have been exceptionally high, reflecting a robust growth in global demand for aircraft seats. The study projects that in the upcoming years, the overall growth of the global aircraft seating market is likely to be vigorous. By the end of 2026, around US$ 27.5 Bn worth of aircraft seats are expected to be sold in the global market. The report further projects that during the forecast period, 2017-2026, the global aircraft seating market will expand at a steadfast CAGR of 12.9%.
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The demand for narrowbody aircraft seats is expected to remain high throughout the forecast period. Apropos the research findings, a majority of airline companies are expected to increasingly seek seats for narrowbody aircrafts. In 2017, more than US$ 6.7 Bn worth of aircraft seats have been sold to be fitted in narrowbody aircrafts. The report also reveals that the sales of seats for small passenger widebody aircrafts raked in over US$ 1 Bn in 2017. However, the demand for aircraft seats for turboprops is expected to remain relatively sluggish. Over the forecast period, turboprops are likely to showcase revenue growth at a subpar CAGR in the global aircraft seating market.
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The report has further analyzed the global aircraft seating market on the basis of fitting type and seating class. Through 2026, retrofitting is expected to account for more than 65% of global aircraft seating market revenues, while line fittings will register a dwindling revenue growth. The report also projects that manufacturers of aircraft seats will predominantly focus on extending the production of economy class seats. Over the forecast period, economy class aircraft seats sold in the global market will be registering a healthy CAGR of 13.1%.