The commercial aircraft seating market is anticipated to register a CAGR of 6% during the forecast period (2020 - 2025).
- Growing air passenger traffic is the main driver for the market, currently. Due to the demand generated by this growing traffic, the commercial aircraft orders are showing healthy growth, and simultaneously, the market for commercial aircraft seating is expected to show robust growth during the forecast period.
- The development of new lightweight materials may provide new opportunities for the growth of the aircraft seating market, and may also help the growth of the aviation market by providing more savings to the airlines
- The complexities in supply chain are becoming a challenge for the aircraft seating manufacturers to increase their revenues. Measures are being taken to ensure that there are no disruptions in the supply chain of individual components, thereby ensuring smooth delivery of the complete aircraft.
Key Market Trends
Regional Jets Expected to have a High Growth Rate during the Forecast Period
In the segmentation by aircraft type, the narrow-body segment held the highest share out of all the segments in 2019, due to an increased number of narrow-body aircraft delivery. However, the growth of the regional aircraft seating segment is expected to be higher during the forecast period. Although the revenues from the segment are very less compared to the other segments, the increased growth in the procurement of regional aircraft is expected to be a key growth driver for the same..
Asia-Pacific to dominate the market
As of 2019, Asia-Pacific had the largest market share globally. Also, the region is expected to witness the highest growth rate during the forecast period. The demand for aircraft components, like seats, from countries, like China and India, which are key aviation hubs in the region, is the main driver for the growth of the region. Orders for new aircraft are also high in the region, propelling the growth of revenues from the same..
The commercial aircraft seating market is highly fragmented, with about three companies - RECARO Holding Gmbh, Safran and HAECO leading the market revenue share as of 2019, while the rest of the companies hold minor shares. With the acquisition of Zodiac Aerospace by Safran of Sweden (which is estimated to help Zodiac improve its R&D capabilities as well as production capacity) the aircraft seating industry is expected to experience a considerable change in the market.
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