Huge Growth And Opportunities in Global Aircraft Seating Market Till 2024

Posted by Monica nerkar on October 25th, 2019

Global Aircraft Seating Market: Information by Seat Type (Economy, Premium Economy, Business Class, and First Class), Aircraft Type (Wide Body, Narrow Body, and Regional Transport Aircraft), Fit (Line Fit and Retrofit), and Region—Forecast till 2024

The global aircraft seating market is expected to reach USD 5,960.8 million by 2024 at a CAGR of 7.24% during the forecast period of 2019 to 2024. The demand for high-density seating configurations, increase in aircraft orders, need for fuel efficiency, and upgradation and replacement of aircraft seats are driving the growth of the market.

However, the introduction of design innovations and the effect of the European economic crisis are expected to restrain market growth during the forecast period.

The global seating market has been segmented based on seat type, aircraft type, and fit.

In this report, the global aircraft seating market has been divided, based on seat type, into economy, premium economy, business class, and first class. The economy segment is estimated to be the largest while the premium economy segment is projected to be the fastest-growing during the forecast period. Premium economy class is found on short-haul and long-haul international flights and, compared to standard economy seats, offers 5–7 inches of extra legroom as well as additional amenities. These seats also offer 2–3 inches of extra seat recline, adjustable headrests, lumbar support, and leg rests.

In this report, the global aircraft seating market has been segmented, based on aircraft type, into wide body, narrow body, and regional transport aircraft. The wide body is estimated to be the largest; however, the narrow body segment is expected to be the fastest-growing during the forecast period. The major wide-body aircraft include the Airbus A300, A310, A330, A340, A350, and A380 and the Boeing 747, 767, 777, and 787. These aircraft are in high demand, primarily for long-haul routes with high traffic. According to the European Commission, it is expected that over 2,500 wide-body aircraft would be delivered in different regions such as North America, Europe, Asia, and Latin America, whereas, twice the number would be delivered in the Middle East by 2035. This is expected to drive the growth of the segment during the forecast period.

The global aircraft seating market has been classified, based on fit, as line fit and retrofit. The retrofit segment is estimated to be larger and register the higher CAGR during the forecast period. The retrofit segment covers the market for aircraft seats procured by all end users other than commercial and military aircraft OEMs. It includes government agencies, defense organizations, and other users of aircraft. Asia-Pacific is estimated to be the largest retrofit market for aircraft seats as the countries in the region collectively possess the largest number of commercial and military aircraft. Fleet modernization programs are a key factor influencing market growth. The retrofit segment of the global aircraft seating market is, therefore, projected to exhibit a CAGR of 7.39% during the forecast period

Regional Analysis

The geographic analysis of the global aircraft seating market covers North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is anticipated to be the largest market and Asia-Pacific is estimated to be the fastest-growing regional market during the review period.

Competitive Analysis

The key players in the global seating market are B/E Aerospace, Inc. (US), Hong Kong Aircraft Engineering Company Limited (Hong Kong), Zodiac Aerospace (France), Recardo Aircraft Seating GmbH & Co.KG (Germany), ACRO Aircraft Seating Ltd (UK), Aviointeriors SpA (Italy), Zim Flugsitz GmbH (Germany), GEVEN SpA (Italy), JAMCO Corporation (US), and Thompson Aero Seating Ltd (UK).

Key Developments

In February 2019, Thompson Aero Seating Ltd signed a contract for the upgradation of business class seats on Singapore Airlines’ Boeing 737 MAX 8 fleet. The upgrades will commence in May 2020 and are part of an investment program that will eventually see SilkAir merge with SIA.

In March 2017, Zim Flugsitz GmbH signed a buyer-furnished equipment agreement with Airbus for economy, premium economy, and mechanical business class seats.

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