Global Aircraft Seating Market (2020 to 2026) - Rise of Low-Cost Airlines Presents Opportunities - ResearchAndMarkets.com

The "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 to 2026" report has been added to ResearchAndMarkets.com's offering.

The global aircraft seating market size is projected to grow from USD 4.1 Billion in 2020 to USD 5.8 Billion by 2026, at a CAGR of 5.8%

The market is driven by various factors, such as the growing demand for seats installed with IFEC systems, increasing the number of premium economy seats, and maintenance & retrofitting of existing aircraft are the major drivers of aircraft seating market.

The aircraft seating market includes major players Safran (Zodiac Aerospace) (France), Collins Aerospace (US), Geven S.p.A. (Italy), RECARO Aircraft Seating (Germany), and HAECO (Hong Kong). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and South America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect aircraft seating production and services by 7-10% globally in 2020.

OEM: The fastest-growing segment of the aircraft seating market, by end-use.

The OEM segment is expected to be the largest market by value. The growth of the OEM segment of the aircraft seating market can be attributed to the growing demand for seats installed with IFEC systems, increasing number of premium economy seats.

WBA: The fastest-growing segment of the aircraft seating market, by aircraft type.

Based on aircraft type, the wide-body aircraft segment is projected to be the highest CAGR rate for the aircraft seating market during the forecast period. The demand for interiors in wide boy aircraft is comparatively more than narrow body aircraft and regional transport aircraft as there is more space to install wide seats and other cabin interior products. Major airlines operating wide body aircraft are focusing on upgrading their interiors to the latest technologies.

16G: The fastest-growing segment of the aircraft seating market, by seat type.

The 16G segment is the fastest-growing segment of the aircraft seating market. According to the Federal Aviation Administration (FAA), passenger aircraft should have seats capable of withstanding 16 times the force of gravity to increase the chances of survivability of passengers and flight attendants in case of accidents. New seats undergo a series of tests to determine their strength, similar to crash tests which have to meet FAA safety standards.

Asia Pacific: The fastest-growing region in the aircraft seating market.

Asia Pacific is projected to be the highest CAGR rate for the aircraft seating market during the forecast period. The growth of this region is attributed to the countries in this region upgrading their capabilities by undertaking developments in the field of aircraft seating, thus offering a significant opportunity for OEM manufacturers to expand their businesses.

The projected rise in GDP during the next 10 years in emerging economies such as China presents significant potential for the market. China, in recent times, has attracted significant foreign investments due to stable growth and robust developments in the economy. The Civil Aviation Administration of China (CAAC), Directorate General of Civil Aviation of India, and the Australian Transport Safety Bureau (ATSB) are among the region's regulatory bodies that ensure adherence to safety rules and air travel regulations within their respective countries. The leading manufactures of aircraft seats in the Asia Pacific include JAMCO Corporation (Japan) and AirGo Design (Singapore), among others which cater to the Asian market.

Market Dynamics

Drivers

• Growing Demand for Seats Installed with IFEC Systems
• Increasing Number of Premium Economy Seats
• Maintenance & Retrofitting of Existing Aircraft

Restraints

• Shortage of Profitable Airlines in Emerging Economies
• Regulatory Frameworks and Certifications

Opportunities

• Rise of Low-Cost Airlines
• Growing Urban Air Mobility Platform

Challenges

• Regulations to Install 16G Seats in All Aircraft
• Delay in Aircraft Deliveries
• High Installation Cost
• Economic Challenges Faced by Aviation Industry Due to COVID-19

Company Profiles

• Safran
• Collins Aerospace
• Geven
• Recaro Aircraft Seating
• Jamco
• Haeco
• Lufthansa Technik
• Stelia Aerospace
• Zim Flugsitz
• Acro Aircraft Seating
• Aviointeriors
• Thomson Aero Seating
• Expliseat
• Adient Aerospace
• Mirus Aircraft Seating
• Embraer Aero Seating Technologies (East)
• Iacobucci Hf Aerospace
• Ipeco Holdings Ltd.
• Pitch Aircraft Seating Systems
• Regent Aerospace Corporation
• GVH Aerospace
• Rebel Aero
• Optimares Spa
• AFI KLM E&M
• Duncan Aviation Inc.
• Inseat Solutions Llc
• Jpa Design
• Mac Interiors
• Airgo Design
• Molon Labe Seating

For more information about this report visit https://www.researchandmarkets.com/r/jhrgcp

View source version on businesswire.com: https://www.businesswire.com/news/home/20201005005378/en/