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(Transportation-News.com, September 13, 2023 ) The Global Aircraft Seating Market is on an upward trajectory, with a projected growth from USD 6.3 billion in 2022 to USD 8.7 billion by 2027, reflecting a CAGR of 6.8%. This remarkable expansion is driven by several key factors, including:
Growing Number of Premium Economy Seats: Airlines are increasingly recognizing the demand for premium economy seats as passengers seek enhanced comfort without the premium price tag.
In-Flight Entertainment and Connectivity (IFEC) Systems: The rising preference for seats equipped with IFEC systems is contributing to market growth as passengers seek entertainment and connectivity options during flights.
Maintenance and Retrofitting: The need for maintenance and retrofitting of existing aircraft, to meet evolving passenger expectations, is driving investments in new seating solutions.
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Market Segmentation:
The report segments the aircraft seating market based on various criteria:
Class: It encompasses Business, First, Premium Economy, and Economy classes, each catering to a different segment of travelers.
End Use: The market is divided into OEM (Original Equipment Manufacturer), Aftermarket, and MRO (Maintenance, Repair, and Overhaul), offering insights into the diverse needs of the aviation industry.
Aircraft Type: This includes Narrow Body Aircraft (NBA), Wide Body Aircraft (WBA), Regional Transport Aircraft (RTA), and Business Jets, revealing the specific demands of various aircraft categories.
Materials and Components: A detailed analysis of the materials and components used in aircraft seating sheds light on innovations and advancements in seat design and construction.
Regional Insights:
The Asia Pacific region is projected to experience the highest CAGR in the OEM aircraft seating market during the forecast period. Countries in this region are investing in research and development efforts, presenting significant opportunities for OEM producers to expand their businesses.
Key Players:
The aircraft seating market is characterized by prominent players, including Collins Aerospace (US), Safran (France), Geven S.p.A. (Italy), RECARO Aircraft Seating (Germany), and HAECO (Hong Kong). These industry leaders have extended their presence across various regions globally, driving innovation and competition.
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