Predicting a 6.8% CAGR Leading to USD 8.7 Billion in Aircraft Seating Market

1
Predicting a 6.8 CAGR Leading to USD 8.7
Billion in Aircraft Seating Market
The Global Aircraft Seating Market is poised for
substantial growth in the forecast period from
2022 to 2027. According to projections, the
market is anticipated to expand from USD 6.3
billion in 2022 to USD 8.7 billion by
2027, reflecting a compound annual growth rate
(CAGR) of 6.8. Several factors are driving this
growth, including the increasing prevalence of
premium economy seats and rising demand for
seats equipped with In-Flight Entertainment
Connectivity (IFEC) systems. Download PDF
Brochure _at_ https//www.marketsandmarkets.com/pdfdo
wnloadNew.asp?id906 Market Dynamics Driver
Growing Demand for Seats Installed with IFEC
Systems The surge in demand for In-Flight
Entertainment Connectivity (IFEC) systems has
emerged as a significant driver for the aircraft
seating market. Airlines are increasingly
investing in IFEC systems to enhance passenger
experience and generate ancillary revenues. The
installation of advanced IFEC systems in premium
economy class seats and the replacement of old
seats with newer configurations have positively
impacted market growth. Restraint Stringent
Regulatory Norms and Product Certification
Procedures However, stringent regulatory
frameworks and certification procedures pose
challenges to market growth. Obtaining approvals
for onboard installations of IFEC systems
involves extensive processes and significant
costs, particularly due to safety and
compatibility concerns. Regulatory compliance,
especially with agencies like the Federal
Aviation Administration (FAA), significantly
impacts the market trajectory. Opportunity Rise
of Low-Cost Airlines The proliferation of
low-cost carriers presents a significant
opportunity for the aircraft seating market.
Low-cost airlines, characterized by affordable
fares and moderate services, have witnessed
increasing demand, particularly in emerging
economies like India, China, Mexico, and South
Africa. This demand surge has been accompanied
by a preference for narrow-body aircraft,
directly influencing the demand for aircraft
seating. Challenge Regulations Mandating 16G
Seats Installation
2
A notable challenge facing airlines is the
mandate to install 16G seats in all aircraft, as
per regulations by the European Aviation Safety
Agency (EASA) and the Federal Aviation
Administration (FAA). This requirement
necessitates the replacement of older 9G seats
with stronger variants, posing cost and time
challenges for airlines, particularly regarding
retrofitting existing fleets. Market
Segmentation By Aircraft Type The business jet
segment is anticipated to witness significant
growth, driven by innovations in business class
seat architecture. By Class The economy segment
is expected to exhibit substantial growth,
attributed to airlines increasing seat capacity
to accommodate rising passenger travel. By
Region The Asia Pacific market is projected to
contribute the highest CAGR, driven by regional
developments and enhancements in aircraft seating
capabilities. Top Aircraft Seating Companies The
market is dominated by established players such
as Safran, Collins Aerospace, Geven S.p.A.,
RECARO Aircraft Seating, and HAECO. These
companies are actively engaged in industry
trends and technological innovations to meet
evolving market demands. Inquiry before buying
_at_ https//www.marketsandmarkets.com/Enquiry_Before
_BuyingNew.asp?id906 About MarketsandMarkets
MarketsandMarkets has been recognized as one of
Americas best management consulting firms by
Forbes, as per their recent report. MarketsandMar
kets is a blue ocean alternative in growth
consulting and program management, leveraging a
man-machine offering to drive supernormal growth
for progressive organizations in the B2B space.
We have the widest lens on emerging
technologies, making us proficient in co-creating
supernormal growth for clients. Earlier this
year, we made a formal transformation into one of
America's best management consulting firms as
per a survey conducted by Forbes. The B2B
economy is witnessing the emergence of 25
trillion of new revenue streams that are
substituting existing revenue streams in this
decade alone. We work with clients on growth
programs, helping them monetize this 25 trillion
opportunity through our service lines - TAM
Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement,
and Thought Leadership Marketing. Built on the
'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them
stay relevant in a disruptive ecosystem. Our
insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market
Intelligence Cloud, and years of research. The
KnowledgeStore (our Market Intelligence Cloud)
integrates our research, facilitates an analysis
of interconnections
3
through a set of applications, helping clients
look at the entire ecosystem and understand the
revenue shifts happening in their
industry. To find out more, visit
www.MarketsandMarkets.com or follow us on
Twitter, LinkedIn and Facebook. Contact Mr.
Aashish Mehra MarketsandMarkets INC. 630
Dundee Road Suite 430 Northbrook, IL 60062 USA
1-888-600-6441 Email sales_at_marketsandmarkets.com