This new report from Stratview Research analyses the Aerospace Seat Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Aerospace Seat Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Aerospace Seat Market is no different. Derived from the previous market scenario, the Aerospace Seat Market is set to grow at a CAGR of 4.7% over the next five years to reach US$ 6.0 billion in 2025 but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
· Strategic segmentation
· Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Detailed Competitive Rivalry landscaping
· Market trend and forecast analysis
· Future Growth Boulevards
Market Share Analysis
Aircraft Seat Market Share by Aircraft Type
On the basis of aircraft type, the aircraft seat market is segmented as narrow-body aircraft, wide-body aircraft, very large body aircraft, regional aircraft, and business jets. Narrow-body aircraft is projected to remain the largest segment of the market during the forecast period of 2020 to 2025. Market entry of new aircraft programs, COMAC C919, A321 XLR, and Irkut MC-21, and increasing production rates of key aircraft programs, such as the A320 family, are likely to be the growth engines of the narrow-body aircraft segment of the market during the forecast period.
Aircraft Seat Market Share by Seat Type
Based on seat class type, the market is segmented as first-class seats, business-class seats, premium-economy-class seats, and economy-class seats. The economy-class seat type is projected to remain the largest segment of the market in terms of units during the forecast period of 2020 to 2025; propelled by a large number of passengers traveled in the economy-class cabin and the growing number of LCCs (Low-cost carrier) across the world. Premium-economy-class and business-class seats are witnessing a greater adoption across the world and are growing at a faster pace than others.
Aircraft Seat Market Share by Component Type
Based on component type, the market is segmented as soft goods, metals, plastics, and composites, and electric. An aircraft seat is made with many small and mid-size components. The share of metal components to electrical components varies from aircraft to aircraft and from one seat-class type to another. For instance, a first-class seat includes a large number of electrical components to provide maximum comfort and wider functions to the passenger, whereas an economy-class seat can constitute little or no electric components.
In terms of region, North America currently holds the largest share of the global aircraft seat market and is projected to remain the largest aircraft seat market during the forecast period. The region is the assembly base of all the commercial and regional aircraft programs of Boeing and Bombardier. Airbus has recently expanded its first assembly plant for its A320 in Alabama, the USA to increase the production of A320 to seven per month from five. Also, Airbus has started production of A220 in the same plant. The region also owns one of the largest commercial aircraft fleets in the world.
The supply chain of this market comprises raw material suppliers, aircraft seat components suppliers, aircraft seat manufacturers, distributors, aircraft OEMs, airlines, aircraft leasing companies, and MRO companies.
Some of the key players in the aircraft seats market are-
RECARO Aircraft Seating GmbH & CO. KG
Acro Aircraft Seating Ltd
Thompson Aero Seating Ltd.
ZIM Flugsitz GmbH.
Long-term contracts and new product development are the key strategies adopted by major players to gain a competitive edge in the global market.