The aircraft seating market is projected to exhibit profitable growth by 2027 owing to rising demand for air travel and technological innovation in the product landscape.
After the COVID-19 outbreak, lockdown restrictions imposed by governments across the globe hampered the aircraft seating market growth in the year 2020. However, as governments relax pandemic-induced lockdowns in view of successful vaccination drives, the demand for aircraft seating is anticipated to see steady growth over 2021-2027.
Moreover, laboratory models indicate that increasing the physical distance between passengers and reducing passenger density can mitigate exposure to the novel coronavirus during air travel. Research studies further suggest that keeping the middle seat vacant could reduce the risk of exposure to the novel coronavirus from nearby passengers.
Additionally, recent technological innovations have been targeting efficient seating concepts, which is speculated to propel market growth through the forecast period. For instance, a dual level cabin concept was recognized by the Crystal Cabin Awards in May 2021.
The ???Chaise Longue Economy Seat Project' explains a two-level seat cabin, wherein each row alternates between on-floor seating and a row of seats a few feet above ground. 21-year-old Alejandro N????ez Vicente, a student at the TU Delft University in the Netherlands has been credited with the innovative design.
Another concept shortlisted at the event was the ???CLOUD CAPSULE concept' by Toyota Boshoku. The concept imagines the overhead area above the economy seat as an added space for passengers to retire to when the airplane attains cruising altitude.
The aircraft seating market has been segmented on the basis of platform, class, fit, and region. In terms of class, the market has been divided into first class, business class, economy class, premium economy class, and others.
The aircraft seating market from economy class is estimated to witness significant growth through the assessment period. As countries are gradually relaxing lockdown restrictions, there would be a surge in domestic and international air travel, which is expected to fuel segmental growth through 2027.
The others sub-segment is projected to expand at a CAGR of 5% through the forecast timeframe to garner a sizable revenue by 2027. Technological advancements, such as ejector seats in helicopters and fighter aircraft, coupled with lighter and stronger construction, are speculated to enhance industry outlook through the study timeframe.
From the regional perspective, Latin America is estimated to expand at a sizable CAGR to hold around 5.0% share in the aircraft seating market by 2027 driven by surging demand for new generation commercial aircraft.
Expanding regional connectivity in conjunction with the growing air passenger traffic is anticipate to further support industry expansion. Moreover, increasing aircraft orders and deliveries to accommodate the mounting air travel demand are expected to significantly impact the aircraft seating market share by over the assessment period.