Rising demand for in-flight entertainment & connectivity solutions and systems is one of the significant factors driving the growth of the aircraft cabin interiors market across the globe.
New York, Aug. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Cabin Interiors Market by Type, End User, Aircraft Type, Material, Region - Global Forecast 2025" - https://www.reportlinker.com/p05169958/?utm_source=GNW
The aircraft cabin interiors market is projected to grow from USD 17.6 billion in 2020 to USD 32.7 billion by 2025, at a CAGR of 13.2% during the forecast period from 2020 to 2025. This growth can be attributed to the increased demand for in-flight entertainment & connectivity systems as these have become an alternate source of income for most of the airlines. The ancillary revenue obtained from these systems is helping airlines in maintaining and enhancing the quality of their onboard services. Different airlines are using different sources such as onboard shopping, Wi-Fi connectivity, and advertising for revenue generation. However, the limited number of profitable airlines in emerging economies is expected to restrain the growth of the market..
The outbreak of COVID-19 has led to a significant economic toll on the aviation sector due to air travel restrictions in various countries.The air travel restrictions across various regions for both domestic and international flights have attributed significantly to the inactive fleet across the globe.
Like many other industries, the aircraft cabin interiors market is also heavily impacted by the COVID-19 pandemic.OEMs, service providers, technology providers, and airlines are facing tremendous pressure due to the financial losses incurred because of coronavirus spread.
Additionally, temporary halts in production have impacted the OEM market for aircraft cabin interiors adversely.The manufacturers are expected to cope with the challenging requirements of airlines and travelers with respect to health safety and social distancing norms.
The manufacturers, aftermarket, and MRO services need to strive hard to gain the passenger confidence in flying back to normal conditions as the pre-COVID-19 times by bringing modifications, enhancements, isolations in aircraft cabin interiors such as seats, lavatories, and IFEC features, among others.
Based on end user, the OEM segment is projected lead the aircraft cabin interiors market from 2020 to 2025.
Based on end user, the OEM segment is projected lead the aircraft cabin interiors market during the forecast period. The growth of this segment can be attributed to the fact that the customization of the aircraft cabin interiors according to the requirements of airlines before aircraft delivery is easier as compared to retrofitting them.
Based on aircraft type, the very large aircraft segment is projected to grow at the highest CAGR during the forecast.
Most cabin interiors remain similar for different types of aircraft.However, some change depending on the size and type of aircraft, such as the number of seats required, cabin lighting, and lavatory.
The report segments the aircraft cabin interiors market based on aircraft type into narrow body aircraft, wide body aircraft, very large aircraft, regional transport aircraft, and business jets.The demand for interiors for a very large aircraft is comparatively greater due to the wide fuselage.
Interiors of the wide body aircraft have been upgraded with the latest technologies. Additionally, the demand for enhanced passenger safety, reliability, and in-flight experience for the long-haul flights is attributing to the growth of the very large aircraft segment.
Based on type, the in-flight entertainment and connectivity market segment is projected to grow at the highest CAGR during the forecast.
In-flight entertainment & connectivity refers to the entertainment facilities available to onboard passengers during flight.These facilities are provided to enhance the passenger experience, thereby leading to increased loyalty of passengers for airlines.
Legacy airlines such as Singapore Airlines, Emirates, Etihad, and Lufthansa continue to place orders for advanced in-flight entertainment & connectivity systems to make the journey of passengers comfortable over long-haul routes.The decline in weight of these systems is an ongoing trend across the globe as it increases the fuel efficiency of aircraft.
The increased demand for ensuring the comfort of passengers and enhancing their experience has led to R&D activities in for the development of innovative applications and technologies such as onboard shopping, wireless In-flight Entertainment (IFE), WI-FI & Broadband connectivity, and mobile connectivity.
The North America region is estimated to account for the largest share of the aircraft cabin interiors market in 2020.
The North America region is estimated to account for the largest share of the aircraft cabin interiors market in 2020.Some of the major aircraft manufacturers such as Boeing Company (US), Lockheed Martin Corporation (US), and Bombardier (Canada) are based in this region, thereby leading to increased demand for components of aircraft cabin interiors.
The Middle East aircraft cabin interiors market is projected to grow at the highest CAGR during the forecast period, owing to airlines with larger fleet size, the aftermarket and MRO segments in Middle East has led to its highest CAGR. The growth in air passenger traffic has resulted in an increased order for new aircraft deliveries, thereby leading to the growth of aftermarket and MRO segments of this region.
Break-up of profile of primary participants in the aircraft cabin interiors market:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
• By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, and RoW – 5%
Major companies profiled in the report include are Safran (Zodiac Aerospace) (France), United Technologies Corporation (US), Astronics Corporation (US), Cobham plc (UK), Diehl Stiftung & Co. KG (Germany), Global Eagle Entertainment (US), Gogo Inc. (US), Honeywell International Inc. (US), Panasonic Avionics Corporation (US), and RECARO Aircraft Seating GmbH & Co. KG (Germany), among others.
This research report categorizes the aircraft cabin interiors market based on end user (OEM, MRO, and aftermarket), type (aircraft seating, aircraft cabin lighting, in-flight entertainment & connectivity, aircraft windows & windshields, aircraft lavatory, aircraft galley, aircraft stowage bins, and aircraft interior panels), material (alloys, composites, and others), and aircraft type (narrow body aircraft, wide body aircraft, very large aircraft, regional transport aircraft, and business jets). These segments and subsegments have been mapped across major regions, namely, North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Reasons to buy this report:
From the insight perspective, this research report focuses on various levels of analysis that include industry analysis (industry trends), market share analysis of top players, competitive leadership mapping matrix, and company profiles. These insights together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the aircraft cabin interiors market; high-growth regions; and drivers, restraints, challenges, and opportunities for the aircraft cabin interiors market.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on different products used in aircraft cabin interiors offered by top players of the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new products launched in the aircraft cabin interiors market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the aircraft cabin interiors market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aircraft cabin interiors market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the aircraft cabin interiors market
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