Commercial aviation is rapidly changing across all the parts of the world. Growing inclination towards air travel and increased spending capacity of the travelers is creating strong rise in demand for both domestic as well as international airlines. Changing customer approach and growing demands are also expected to create demand for the changes in the basic facilities available on the planes. Advancements in technology and functionalities of the airplane seats signify this changing trend in the global aviation sector. The global aircraft seating market is expected to steadily grow with constant advancements in the technologies. As a result, key players from around the world are also expected to venture into large investment plans in this industry around the world.
Scope of Research – Segments
The global aviation seating market is categorized on the basis of different types of aircrafts, seats, and geographic demand. Major stakeholders in the market are also taken into consideration for complete analysis of the aircraft seats market. Basic types of seats in the industry include suite class, first class, premium economy class, business class and economy class. The types of aircrafts include business general aviation, wide body, narrow body and very large aircrafts. Major stakeholders in the industry include logistics and transportation, airlines, commercial aviation seat manufacturers, suppliers, aircraft manufacturers, retailers, aircraft seat distributers and wholesalers, foam suppliers, foam manufacturers, cover manufacturers and so on. Major geographic segments in the market include Asia Pacific, North America, Latin America, Africa, Europe and Middle East.
Key Drivers for the Market
Major drivers for the industry include increasing air travel and orders of aircrafts from around the world. Growth in luxury travels and growing spending capacity of the passengers are also expected to play vital role, especially in the growth of the first class seats market. Globalization and constant international as well as international travels for collaborations are also expected to drive the market for the business seats market. Increasing low cost carriers, booming regional economies, demand from emerging regions, and growth in manufacturing projects are also expected to create better growth opportunities for the segments like economic seats market. Despite economic slowdown across several developed regions, the overall aircraft seating market is expected to witness steady rise.
Growth Prospects from 2014
Thanks to growth opportunities from emerging markets and overall rise in air travel across the emerging markets are expected to present crucial business opportunities for the market. According to the latest reports, the global aircraft seating market is set to grow at a steady CAGR of over 5% from 2014 to 2019. At the projected rate, it is estimated to reach $7910 million in 2019. Emerging markets are expected to witness impressive rise in demand during the forecasting period.
