Forecasting USD 8.7 Billion Revenue by 2027 in the Aircraft Seating Market

Posted by Sandeep Roy on March 28th, 2024

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.

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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

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.

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