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    Global Aerospace Seating Market Report

    Global Aerospace Seating Market Report
    Report code - SRAD141 Published On : Feb,2020 No. of Pages: 240
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    Aircraft Seat Market Size, Share, Trend, Forecast, & Competitive Analysis: 2020-2025
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    Impact of COVID-19 on Global Aerospace Seating Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Global Aerospace Seating Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Among aircraft interiors, aircraft seats stand at the second position after inflight entertainment & connectivity and are estimated to grow at a healthy pace in years to come. Aircraft seats are one of the applications that have witnessed a remarkable transition over the eons. All the major seat manufacturers have been investing huge on R&D in order to develop products addressing the existing as well as upcoming market requirements. The introduction of stringent regulations regarding passenger safety further propels the innovations in the market. For instance, aircraft seats are required to withstand a dynamic 16g force. In the 16g test, two distinct dynamic tests are conducted, which ultimately stimulates the loads that could be expected in an impact-survivable accident. This helps to survive passengers in the case of a fatal accident. The selection of materials for seating applications largely depends upon such regulations. Composite parts excel in most of the parameters with the advantages of being light in weight.

    Despite recent industry concerns over grounding of B737 max,  P&W 1100G engine series failure (A320neo), delayed deliveries of upcoming aircraft programs such as B777X, revised production rates of key aircraft programs, A350XWB and B787 due to cancellation of Boeing’s orders from China and other parts of the world, the long-term market outlook still seems vigorous. Apart from the organic growth of the industry, several other factors are propelling the demand for seats in the aircraft industry. Some of those factors are a shift from first-class seats to business-class seats, advancements in interiors of the latest aircraft programs promoting airlines to upgrade the interior of the existing fleet, and increasing preference of airlines for premium-economy-class seats. Furthermore, advancements with regard to seat design and materials aid some momentum to the growth of the market.

    Stratview Estimates’ suggest that the market for seats in the aircraft industry is set to grow at a CAGR of 4.7% over the next five years to reach US$ 6.0 billion in 2025. Organic growth of the aircraft industry is anticipated to remain the biggest growth propeller. Both Boeing and Airbus are projecting healthy demand for commercial and regional aircraft in the next twenty years in their business outlooks. Boeing, in its outlook 2019-2038, projected that there will be the need for 44,040 commercial and regional aircraft during 2019-2038 out of which narrow-body aircraft will account for almost 78% share. Airbus too has similar projections in its business outlook of 2019-2038.

    The airline industry is fiercely competitive with the presence of over 800 active airlines worldwide. Maintaining brand image and retaining customers to keep themselves competitive are the enormous tasks and require continuous improvements by addressing the emerging market needs. Airline companies are not only increasingly purchasing those aircraft that offer excellent comfort to their customers, but they also keep upgrading their existing fleet to deliver an unmatched customer experience. At the same time, the volatile crude oil prices have an unembellished impact on the profit margins of airlines.  Interior applications including seats are also not untouched with such factors and experienced a drastic shift in their materials usage. Aircraft manufacturers worked along with seat manufacturers to develop seats that are lightweight and can accommodate a higher number of seats at reduced space.

    The aircraft interiors market witnessed the most noticeable number of M&As in the past five years where the two biggest giants (Zodiac Aerospace and B/E Aerospace) were acquired by other aerospace conglomerates. For instance, in 2017, Rockwell Collins completed the acquisition of B/E Aerospace with a transaction value of US$ 8.6 billion, to strengthen its position and to expand its portfolio in the cockpit and cabin interior solution. With this acquisition, the company has not only entered into the aircraft seating business but also become the market leader in it.  Similarly, in 2018, Safran S.A. acquired Zodiac Aerospace with a transaction value of US$ 9 billion and its business is restructured into three divisions: seats, cabin equipment, and aerosystems. The acquisition of Zodiac Aerospace helped the company to gain capabilities in the aircraft interiors market including seats and further strengthen its capabilities in AeroSystems and AeroSafety products.

    Segments' Analysis

    Aircraft-Seat-Market-Dominant-Segments

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    Aircraft Seat Market Share by Aircraft Type

    On the basis of aircraft type, the aircraft seat market is segmented as narrow-body aircraft, wide-body aircraft, very large body aircraft, regional aircraft, and business jets. Narrow-body aircraft is projected to remain the largest segment of the market during the forecast period of 2020 to 2025. Market entry of new aircraft programs, COMAC C919, A321 XLR, and Irkut MC-21, and increasing production rates of key aircraft programs, such as the A320 family, are likely to be the growth engines of the narrow-body aircraft segment of the market during the forecast period.

    Aircraft Seat Market Share by Seat Type

    Based on seat class type, the market is segmented as first-class seats, business-class seats, premium-economy-class seats, and economy-class seats. The economy-class seat type is projected to remain the largest segment of the market in terms of units during the forecast period of 2020 to 2025; propelled by a large number of passengers traveled in the economy-class cabin and the growing number of LCCs (Low-cost carrier) across the world. Premium-economy-class and business-class seats are witnessing a greater adoption across the world and are growing at a faster pace than others.

    Aircraft Seat Market Share by Component Type

    Based on component type, the market is segmented as soft goods, metals, plastics, and composites, and electric. An aircraft seat is made with many small and mid-size components. The share of metal components to electrical components varies from aircraft to aircraft and from one seat-class type to another. For instance, a first-class seat includes a large number of electrical components to provide maximum comfort and wider functions to the passenger, whereas an economy-class seat can constitute little or no electric components.

    Regional Insights

    In terms of region, North America currently holds the largest share of the global aircraft seat market and is projected to remain the largest aircraft seat market during the forecast period. The region is the assembly base of all the commercial and regional aircraft programs of Boeing and Bombardier. Airbus has recently expanded its first assembly plant for its A320 in Alabama, the USA to increase the production of A320 to seven per month from five. Also, Airbus has started production of A220 in the same plant. The region also owns one of the largest commercial aircraft fleets in the world.

    Aircraft-Seat-Market-By-Region

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    Asia-Pacific is expected to register the highest growth over the next five years, driven by upcoming commercial and regional programs, such as COMAC C919 and Mitsubishi SpaceJet. Furthermore, the region owns the largest commercial aircraft fleet worldwide. This will create a sustainable demand for seats at the retrofit level. China and India are the growth engines of the Asia-Pacific's aircraft seat market.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2014-2025

    Forecast

    4.7% CAGR During 2020-2025

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries Covered

    The US, Canada, Mexico, Germany, France, the UK, Russia, China, Japan, India, Middle East, Latin America and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The aircraft seat market is segmented into the following categories.

    Aircraft Seat Market Size, Share & Forecast, by Aircraft Type:

    • Narrow-Body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Wide-Body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Very Large Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Business Jets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Seat Market Size, Share & Forecast, by Seat Class Type:

    • First-Class Seats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Business-Class Seats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Premium Economy-Class Seats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Economy-Class Seats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Seat Market Size, Share & Forecast, by Component Type:

    • Soft Goods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Metals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Plastics and Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Seat Market Size, Share & Forecast, by Fit Type:

    • Lint Fit (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Retrofit (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Seat Market Size, Share & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the world (Country Analysis: Middle East, Latin America, and Others)