The global Aircraft Cabin Interior Market size is predicted to reach USD 35.36 billion by 2027, exhibiting a CAGR of 11.8% during the forecast period. The following market is expected to decline significantly in 2020 due to the COVID-19 impact and hence the 2020-2027 CAGR is high. The aviation industry has incurred a revenue loss of around USD 27.06 billion this year. This, in turn, will negatively impact the growth of the market.
Impact of Russia-Ukraine War Implication
The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement. There is hardly any sector that the war has left untouched, especially aggravating the business landscape of sectors ranging from aerospace to oil & gas. Amidst prevailing challenges, stakeholders are gearing to turn adversities into opportunities. However, soaring military aid for Ukraine could provide impetus to stakeholders. Meanwhile, it is to be noted that the relevant sanction could augment operating costs and disrupt industries.
As per the report, published by Fortune Business Insights, titled “Aircraft Cabin Interior Market Size, Share and Industry Analysis, by Type (Seats, Cabin Lightening, In-Flight Entertainment & Connectivity, Windows and Windshields, Galley and Lavatory, and Others interior panels, storage bins), By Class (First Class, Business Class, Premium Economy Class, and Economy Class), By Aircraft Type (Narrow Body Aircraft, Wide Body Aircraft, Business Jets, and Regional Transport Aircraft), By End User (OEM and Aftermarket), and Region Forecast till 2027” the market size stood at USD 27.06 billion in 2019. The report aircraft cabin interior market report focuses and elaborates the definition, types, applications and major players in detail. Deep analysis about aircraft cabin interior market status, competition pattern, enterprise, advantages and disadvantages of enterprise products, industry development trends, regional industrial layout characteristics and macroeconomic policies, industrial policy has also been studied and provided within the synopsis. From raw materials to downstream buyers of this industry has been analyzed scientifically, the feature of product circulation and sales channel is presented as well. This report is aimed at helping companies, investors and potential shareholders along with venture capitalists establish a bird’s eye view prospect of industrial development and characteristics of the market. The report also benefits its readers by providing the unrivalled data in well-organized manner.
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Rising Innovation in Aviation Industry to Influence Market Trajectory
One of the major aircraft cabin interior market trends involves the innovation in cabin design and technologies by OEMs. The growing emphasis on cabin storage technology along with hardware technologies such as Active Noise Control technology, seat automation, air filtration system, and development of new material and components for different aircraft cabin interior systems will bolster healthy growth of the market during the forecast period. Moreover, the introduction of IoT for cabin crew members in aircrafts will subsequently aid the expansion of the market in the forthcoming years. In addition, the rising development and innovation in aircrafts to enhance passengers experience by leading market players will favor market growth in the foreseeable future. For instance, in February 2019, The Germany based RECARO Aircraft Seating an independent division of RECARO Holding GmbH launched a new logistic hub in Schwäbisch Hall. This center is opened to ramp up the development of innovative aircraft seating components. The company invested USD 17.03 million for the opening of its new logistic center.
Increasing Passenger Air Traffic to Favor Growth in North America
North America generated a revenue of USD 9.08 billion in 2019 and is predicted to remain dominant during the forecast period. The growth in region is attributed to the surge in passengers and high demand for commercial aircrafts. Moreover, the presence of major advanced OEMs will aid the expansion of the market in North America. Europe is predicted to witness high growth rate in the forthcoming years owing to the owing the presence of major market players such as RECARO Holding GmbH, Thales Group, and Lufthansa Systems. Asia Pacific is predicted to rise rapidly due to the increasing commercial aircraft deliveries in as India and China.
The Report Lists the Main Companies in theAircraft Cabin Interior Market
- Astronics Corporation
- Cobham PLC
- Collins Aerospace (United Technologies Corporation)
- Diehl Stiftung & Co. Kg
- Global Eagle Entertainment Inc.
- Gogo Inc.
- Haeco Americas
- Honeywell International Inc.
March 2019 – RECARO Aircraft Seating, an independent division of RECARO Holding GmbH headquartered in Germany, announced the investment of USD 74.02 million for the research and development of business class seating.
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