According to a recent study from market research firm Global Market Insights, the aircraft seating market is one segment of aviation where a consistent stream of demand and supply is visible. Airplane production worldwide, on the other hand, depends on a host of factors, including income levels and defence expenditure.
An increase in disposable income among people in both developed and developing nations has supported developments in the tourism industry, with people wanting to spend time with their families in premium locations. Over time there has been an increase in demand for business and private jets due to the reduced travel times and increased passenger convenience. Private jets are used for business and luxury travel, providing a major growth scope for the global aircraft seating market size.
Prominent aircraft seating companies include Jamco Corporation, Airgo Design Pte Ltd., Collins Aerospace, Martin-Baker Aircraft, Stelia Aerospace, Recaro Aircraft Seating, Adient Aerospace, Geven, Aviointeriors, Pitch, Acro, HAECO, Safran Seats, among various others.
The aircraft seating market share from the retrofit segment is likely to grow moderately as airlines refresh their cabins. The adoption of retrofit solutions has gained traction with advanced seating configurations. Airlines are considering various factors while retrofitting aircraft with in-seat power, such as compatibility with existing linefit options, uniform passenger experiences, and common maintenance requirements.
The advent of smart design iterations for optimal cabin space utilisation has seemingly provided promising growth opportunities. Lie-flat seating in business class has become a hotbed of innovation, with developments witnessed across cabin configurations and seat design. Key players are likely to focus on restoring travellers’ confidence and enhancing safety and health on board amidst the Covid-19 pandemic.
The North American aircraft seating market will exhibit substantial growth over the timeline to 2027, due to the consistent expansion of aircraft manufacturing activity across the region. The region is home to production bases of prominent airplane makers like Boeing, as well as a leader in defence spending. The USA has experienced rapid proliferation in air traffic and the construction of airports.
Aircraft manufacturers and airline companies are continuously increasing aircraft production to meet domestic and international flight demand, along with commencement of new production facilities in the region. Reports estimate that the North American market may witness considerable growth in terms of revenues over the forecast timeframe.
The growing drive for innovation in the aircraft sector will strengthen the need for revolutionising aircraft seats over the coming years. The increase in air traffic across the globe due to people travelling for leisure, business, medical treatment, and education has supported the need for new planes, further driving the aircraft seating market forecast.
