Aircraft Seating Market Size to Reach USD 13.42 Billion by 2026; Rising Demand f

Posted by Rushikesh Pise on March 26th, 2020

The global Aircraft Seating Market size is set to reach USD 13.42 Billion by 2026, exhibiting a CAGR of 7.21% during the forecast period. Increasing air travel worldwide is the key factor driving growth of this market. This rise in demand for air travel is predicated on the rapid growth of the urban middle class. According to the Brookings Institution, by 2030, the urban middle class will comprise close to 5.4 billion people. The International Air Transport Association estimates that by 2035, nearly 7.2 billion people will travel by air, a 100% jump from current levels. Moreover, most of these people are expected to be from Asia-Pacific, particularly India and China.

Aircraft Seating Market Analysis, Insights and Forecast, 2015-2026

According to Boeing, in the next 20 years, the demand for aircrafts will go over 39,000 and of these, about 15,000 will be from Asia-Pacific. Therefore, as the number of air travelers grows, airlines will look to make their journeys as comfortable as possible, especially for those traveling by economy class. This will augur well for the market during the forecast period.

According to the new report published by Fortune Business Insights, titled "Aircraft Seating Market Size, Share & Industry Analysis, By Class (Business, First, Premium Economy, and Economy), Seat Type (9g and 16g), Aircraft Type (Commercial, Business, and Regional Aircraft), Components (Structures, Foams, Actuators, and Electrical Fittings), End-Use (OEMs and Aftermarket), and Regional Forecast, 2018-2026", the market value stood at USD 7.65 Billion in 2018. The report also contains an exhaustive analysis and detailed evaluation of the various factors, trends, future prospects, and other dynamics that will influence the market and empower businesses to frame strategies in an informed manner in the stipulated period.