The global aircraft seating market is probable to grow from $8.74 Billion in 2016 to $16.94 Billion by 2022, at a CAGR of 14.15% from 2016 to 2022. Factors like the demand for new aircraft deliveries, air travel, and the advancement of aircraft programs are anticipated to drive the current market. The increasing disposable incomes and spree of list of companies and offices around the whole world, the premium business class segment is projected to contribute most of its terms of revenue. However, due to significantly lower number of unit costs, the economy class seating would still be far fast in terms of capacity addition.
The global aircraft seating market, on the basis of aircraft type, the global aircraft seating market has been divided into NBA, WBA, VLA, and RTA. Out of which the VLA is likely to grow at the maximum CAGR during the reported forecast period year of 2016 to 2022, primarily driven by the snowballing air traffic worldwide. The global aircraft seating market has also been segmented based on seat class into first class, business class, premium economy class, and economy class. The business class segment on the basis of seating type dominates the market, and is anticipated to last its dominance in the coming years, driven by the rising prominence of progressive business class seat design and its comfort. Again on the basis of components, the global aircraft seating market is segmented into seat actuators, foam & fittings and other components. Amongst all of them, the ’seat actuator’ sub segment is projected to grow with the highest growth rate CAGR during the forecast period year 2016-2022.
Geographically, the global aircraft seating market is divided into North America, Europe, Asia Pacific and rest of the world. Out of which, APAC region is likely to exhibit the highest growth rate in the global aircraft seating market, during the current forecast period. The region’s growing aviation industry has been observing strong growth over the past few years. This anticipated growth is mainly driven by a cumulative demand for new advanced aircraft and growing air traffic in the region. Moreover, it is also expected to boost the growth of the aircraft seating market in the APAC region. Development of the region’s aviation industry is also accredited to the rising middle class population having higher disposable income returns, along with the advancment in trade and tourism in its emerging/developing countries, like as India and China.
The market for aircraft seating market is largely fragmented, with most of the top aviation companies and their subsidiaries. Some of the top players involved in the markets are such as B/E Aerospace, Inc., Zodiac Aerospace, RECARO Aircraft Seating GmbH & Co. KG , Aviointeriors S.p.A., Acro Aircraft Seating , Thompson Aero Seating Ltd. , and ZIM Flugsitz GmbH, merger/ acquisition are the key strertagies that are being involved in this market. Recently, one such example is; in 2016, B/E Aerospace company is going to Buy Two Manufacturers for $470 Million to increase their production and widen their product portfolio.