Aircraft Seating Market Set to Grow at the Fastest Rate - Time to Grow your Revenue

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Aircraft Seating Market Set to Grow at the
Fastest Rate - Time to Grow your Revenue The
Global Aircraft Seating Market is projected to
grow from USD 4.1 billion in 2020 to USD 5.8
billion by 2026, at a CAGR of 5.8 from 2020 to
2026, by Class, Type, End Use, Aircraft
Type, Materials, Components, and Region. The
market is driven by various factors, such as
the growing demand for seats installed
with IFEC systems, increasing number of premium
economy seats, and maintenance retrofitting
of existing aircraft. Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id906 COVID-19 Impact on the Global Aircraft
Seating Market COVID-19 has impacted their
businesses as well. Industry experts believe
that COVID-19 could affect aircraft seating
production and services by 710 globally in
2020. The rapid spread of COVID-19 in Europe, the
US Asia Pacific has led to a significant drop
in demand for aircraft seating globally, with a
corresponding reduction in revenues for various
aircraft seating suppliers, MRO service providers
across all markets owing to late delivery,
manufacturing shutdown, the limited staff at
manufacturing facilities, and limited
availability of equipment. As per industry
experts, the global aircraft seating demand is
anticipated to recover by 2022 fully. Increase in
Aircraft Orders is Driving the Growth of OEM 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. The WBA segment is projected to witness a
higher CAGR during the forecast period Based on
aircraft type, the wide body aircraft segment is
projectedto 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
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interior products. Major airlines operating
wide body aircraft are focusing on upgrading
their interiors to the latest technologies. The
16G segment is projected to witness a higher CAGR
during the forecast period Based on seat type,
the 16G segment is projectedto be the highest
CAGR rate for the aircraft seating market during
the forecast period. 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. The Asia Pacific
market is projected to witness the highest CAGR
from 2020 to 2026 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
present 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 regions
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. Key
Market Players The aircraft seating market is
dominated by a few globally established players
such as Safran (Zodiac Aeropsace) (France),
Collins Aerospace (US), Geven S.p.A.
(Italy), RECARO Aircraft Seating (Germany), and
HAECO (Hong Kong). Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id906
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