Aircraft Soft Goods Market to Reach US$ 782.7 Million in 2023
The global aircraft soft goods market is projected to grow at a healthy rate over the next five years to reach US$ 782.7 million in 2023. An organic growth of the aircraft industry is the major driver of the sustainable demand for lightweight material in the aircraft industry. Boeing and Airbus had a combined total order backlog of 13,090 commercial aircraft as of 31st March 2018. These huge pile of order backlogs of commercial aircraft will allow both airframers to roll out their aircraft continuously for the next nine years at current build rates. However, they have strategically been raising the production rates of their key commercial aircraft programs in order to deliver aircraft to their widespread clients at a shorter period of time. Also, they have been introducing fuel-efficient variants of their best-selling aircraft programs with the purpose to address the biggest requirement of the airline industry, which is the fuel-efficient aircraft. This is likely to engender a greater demand for soft goods in the OE segment in the foreseeable future.
Cabin upgrade is another factor creating a significant opportunity for soft goods. In general, first- and business-class cabins are frequently refurbished than the economy class cabins. Also, airlines profitability is having a major impact on discretionary spending for upgrades. Lower crude oil prices allowed airlines to make more profit, thus, spending more on cabin upgrades, such as interior modification and replacement of carpets, seat, and curtains.
Safety is another factor that is again boosting the demand for soft goods in aircraft cabin interiors. 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 the passengers to survive in case of a fatal accident. The selection of materials for the seating application largely depends upon such regulations. Nylon yarn excels in most of the parameters with the advantages of being light in weight.