Aviation sector is slowly and steadily moving away from the global economic crisis of 2008. The recovery process has created many opportunities as well as challenges for the aviation market, which has influenced the current satisfactory condition of the commercial aircraft manufacturers in different parts of the world. Growth in international as well as domestic air travel is pushing aircraft manufacturers to provide ideal solutions like sufficient passenger carriage along with comfort, safety and luxury of the increasing number of air travelers. On the quest of achieving complete customer satisfaction for airlines aircraft seats segment plays an essential role. Demand and innovations in the global aircraft seating market provide great details about the increasing attention and significance of craft seats in increasing fuel efficiency as well.
Key Takeaways for Aircraft Seats Market
Increasing number of air travelers is putting direct pressure on the commercial aircraft companies, who need to accommodate maximum passengers while minimizing the expenses on fuel. They also need to take care of customer satisfaction, luxury and safety while doing so. This dual demand from the airlines is driving manufacturers segment in the aircraft seating market. talking about craft seats, low cost carriers comprise of about 63% of global fleet size. These carriers use single narrow body aircrafts and majority of them have economy class seats. Very large crafts like A380 on the other hand have the most luxurious seats and suites. Types of seats for commercial aircrafts depend on the comfort level and luxury provided for that particular class.
Global aircraft seating market is categorized on the basis of the types of crafts, products, stakeholders and geography. Following are the details:
- Types: Very large, narrow body, wide body and regional transportation aircrafts
- Products: Economy, premium economy, first class, business class seats and suites
- Stakeholders: Airlines, aircraft manufacturers, seats manufacturers, foam suppliers and seat cover manufacturers
- Geography: United States, Canada, Brazil, Russia, China, Europe and global market
At the estimated compound annual growth rate of over 5%, aircraft seating market is expected to become worth $4.86 Billion by the end of 2017. At the estimated steady CAGR, the market for aircraft seats is aiming to make strong growth in wide body aircrafts segment, which is anticipated to show great business potential during the study period. Rising demand for fuel efficiency is considered to be the strongest driver for the global industry. Cost cutting on luxury seating is also driving the manufacturers towards light weight seating, which is comfortable, carrier friendly and cost effective. This type of seating is expected to dominate the industry during the next four to five years.