Portland, OR, Sept. 08, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global aircraft seating market generated $4.24 billion in 2020, and is projected to reach $8.21 billion by 2030, witnessing a CAGR of 6.9% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in demand for seats installed with IFEC systems, maintenance & retrofitting of existing aircraft, and increase in aircraft production drive the growth of the global aircraft seating market. However, high cost and regulations associated with the installation of aircraft seats and increase in operational costs followed by seasonal serviceability restrain the market to some extent. On the other hand, growth in Urban Air Mobility platform and shift in preference to provide enhanced passenger comfort present new opportunities in the upcoming years.
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COVID-19 Scenario on Aircraft Seating Market:
- The outbreak of the COVID-19 pandemic led to the global lockdown and temporary closure of aircraft industries, thereby adversely affected the overall design, development, and production facilities.
- It further disrupted the whole supply chain, leading to difficulty in supply of raw materials and aircraft appliances. This, in turn, affected the market demand and reduced sales.
- Moreover, the number of domestic air passengers has been reaching to the pre-pandemic levels, particularly in developing countries such as China and Russia.
The report offers detailed segmentation of the global aircraft seating market based on aircraft type, component & materials, seating type, end user, and region.
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Based on aircraft type, the civil aircraft segment held the highest market share in 2020, holding more than four-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the UAM segment is estimated to register the highest CAGR of 9.5% from 2021 to 2030.
Based on end user, the OEM segment held the largest market share in 2020, holding around three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. However, the MRO segment is projected to register the highest CAGR of 7.9% from 2021 to 2030.
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Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding nearly one-third of the total market share, and is estimated to continue its dominant share by 2030. However, LAMEA is projected to manifest the fastest CAGR of 8.1% during the forecast period.
Leading players of the global aircraft seating market analyzed in the research include Acro Aircraft Seating Ltd, Airbus S.A.S., Aviointeriors S.p.A., Geven S.p.a., Jamco Corporation, Raytheon Technologies Corporation, Recaro Aircraft Seating GmbH & CO. KG, Safran, Swire Pacific Limited and The Aviation Industry Corporation of China, Ltd.
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