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Aircraft Seating Market Opportunities and Challenges

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Aircraft Seating Market Opportunities and Challenges

December 06
01:45 2019
AIRCRAFT SEATING MARKET, BY CLASS (BUSINESS, FIRST, PREMIUM ECONOMY, AND ECONOMY), TYPE (9G AND 16G), END USE (OEM, AFTERMARKET, AND MRO), AIRCRAFT TYPE (NBA, WBA, VLA, RTA AND BUSINESS JETS), MATERIALS, COMPONENTS AND REGION – GLOBAL FORECAST 2027

The aircraft seatingmarket size is projected to grow from USD 7 billion in 2019 to USD 12 billion by 2027, at a CAGR of 8% from 2019 to 2027. Increase in aircraft orders, rise in number of premium economy class seats, and maintenance & retrofitting of existing aircraft are some of the key factors driving the growth of the aircraft seating market.

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Premium economy class segment projected to grow at highest CAGR from 2019 to 2027.

Premium economy segment of the aircraft seating market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for premium economy seats by travelers owing to the cheaper ticket value in comparison to business class seats.  Emirates has announced a new premium class to be rolled out by 2020. On the other hand, Singapore Airlines will be cutting the number of first-class seats on its next A380s, while the Germanairline Lufthansa will do away with the first-class cabin completely in its new Boeing 777-9s, leavingbusiness as the highest class on select flights. These changes reflect a shift in trends that place businessas the new first class, and premium economy as the new business class.

Airline Seating Trends:

  • ·         Delta Airlines:

In January 2018, Delta Air Lines (US) airline improved its premium economy seating (called Premium Select) to compete with international airlines. The airline provides premium economy class seats with extra legroom on most domestic airlines.

  • ·         United Airlines

In August 2018, United Airlines (US) announced a plan to begin charging an extra fee to passengers reserving economy seats near the front of the plane. This new policy enables passengers to pay more for basic seats that offer the convenience of being closer to the front of the plane.

Narrow body aircraft segment projected to grow at highest CAGR from 2019 to 2027.

The narrow body aircraft segment is projected to grow at the highest CAGR during the forecast period. This segment’s growth can be attributed to an increasing demand for narrow body aircraft from low-cost carriers in emerging economies. Low-cost airliners tend to procure narrow-body aircraft, owing to their need for short distance travel and the aircraft’s easy maintenance. This has increased the demand for narrow-body aircraft, directly affecting the aircraft seating market. Over 11,000 single-aisle aircraft deliveries were scheduled for the Asia Pacific region in 2017.

Increase in narrow body aircraft deliveries from 2016 to 2027:

 

The OEM end use segment is projected to lead the aircraft seating market from 2019 to 2027.

Based on end use, the OEM segment is projected to lead the market during the forecast period. The growth of this segment can be attributed to the fact that the customization of aircraft seats according to the requirements of airlines before the aircraft’s delivery is easier as compared to their retrofitting. Several airlines buy new aircraft, especially the narrow-body models such as B737 and A320, which are installed with new seats.

Asia Pacific aircraft seating market projected to grow at highest CAGR from 2019 to 2027.

The Asia Pacific aircraft seating market is projected to grow at the highest CAGR during the forecast period. The market growth in this region is largely due to increase in air passenger traffic from countries such as India, China, Japan, and Indonesia. The region has been witnessing growth in domestic travel since the last decade, which has led an increase in aircraft deliveries mostly for low-cost carriers. Emerging markets require new aircraft to meet the fast-growing traffic demand. Hence, new airlines are being launched in emerging economies, such as India and China, where passenger traffic has been increasing at an above average growth rate.

 

Major players operating in the aircraft seating market include Zodiac Aerospace-Safran (France), B/E Aerospace-Rockwell Collins, Inc. (US), Geven S.p.A. (Italy), RECARO Aircraft Seating (Germany), HAECO Americas (US), Lufthansa Technik (Germany), and Stelia Aerospace (France). These players offer different products used in aircraft seating, from economy class to first class. They also have well-equipped manufacturing facilities and strong distribution networks across the North American, European, and Asia Pacific regions.

Market for 16g seats is estimated to grow at 11% CAGR during forecast period.

 

 

Competitive Landscape

The competitive landscape chapter provides an overview of the prevailing competitive scenario and benchmarking of growth strategies adopted by of key players. This chapter offers a comprehensive micro quadrant analysis of more than 30 players in seat manufacturing industry and start-up matrix for start-up companies in this industry. It provides the positioning of players as visionary leaders, innovators, emerging companies, and dynamic differentiators.

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