Global Commercial Aircraft Cabin Interior Market by Product Type (Seating, Lighting, Windows, Galley, In-Flight Entertainment and Lavatory), by Aircraft Type (Wide Body Aircraft and Narrow Body Aircraft), by Fit (Line Fit and Retro Fit), and by Region – Forecast To 2023
The commercial airline industry has grown at a phenomenal pace since the commercialization of industry. The passenger experience is given a huge deal of significance by airlines as it offers a competitive advantage over other players in the market. The market is anticipated to develop with a CAGR of 6.81% in the duration of the forecast period. The necessity for luxury and efficiency in cabin interiors in aircrafts is likely to boost the development of the commercial aircraft cabin interior market in the coming years. Accordingly, the inclusion of a superlative travel experience is one of the key factors responsible for the advances in the aircraft cabin interior market.
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The efficiency of lights, seats, windows, IFEC, and galleys are being improved upon considerably to improve the overall experience onboard. The manufacturing of cabin interior elements is improving to incorporate advanced and lightweight materials that will improve the overall efficacy of the cabin elements. The need to reduce fuel consumption and carbon dioxide emissions per passenger are fuelling the innovations in the market for commercial aircraft cabin interiors. The escalating number of passengers travelling in recent times are raising the demand being directed to the market. The upsurge in passenger count is attributed to rising disposable income levels, specifically in developing countries along with higher living standards have swayed the growth of the market in this regard. Additionally, new airlines are being created in nearly every region to take advantage of the tremendous demand and sales in the market.
Due to technological advancements, the provision of IFEC throughout aircraft cabins is also cited as an important reason for the development of the commercial aircraft cabin interior market in the forecast period. Aircraft manufacturers are also improving their IFEC systems by adding virtual reality, 3D screens, and VR glasses. The increasing level of investment by airlines in retrofitting their aircrafts to bring them up to date is creating a favorable growth trend in the commercial aircraft cabin interior market. The market for commercial aircraft cabin interior is anticipated to face certain challenges in terms of the slow rate of production causing delayed deliveries and lessening profitability of airlines in emerging regions such as Asia and Africa that have been falling due to escalating fuel prices and labor rates and excessive competition in these regions.
The segmental analysis of the commercial aircraft cabin interior market is carried out on the basis of product type, aircraft type, fit and region. On the basis of product type, the commercial aircraft cabin interior market is segmented into seating, lighting, galley, in-flight entertainment, lavatory, windows, and others. Based on the aircraft type, the commercial aircraft cabin interior market is segmented into wide-body aircraft and narrow-body aircraft. Based on the fit, the commercial aircraft cabin interior market is segmented into line fit and retro fit. The regions included in the market are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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Regional Analysis
The regional analysis of the commercial aircraft cabin interior market includes regions such as North America, Asia Pacific, Latin America, Middle East & Africa, and Europe. The analysis observes that the North American region has the capacity to be the major market for commercial aircraft cabin interiors. The North American region is anticipated to develop at a CAGR of 6.34% during the forecast period. The Asia Pacific region is thought to be an advancing market for long-haul travel as they depend on mainly the small and the medium wide-body aircraft. The narrow-body aircraft segment was responsible for the principal market share of 64.82% in 2017, with a market value of USD 3,154.0 million, and will progress at the highest CAGR of 8.04% through the forecast period. The wide-body aircraft segment was the next chief market in 2017, was worth USD 1,711.7 million in 2017 while developing at a CAGR of 7.53% in the forecast period. The European region is the among the foremost regions for in the market. The European region is projected to observe a CAGR of 6.21% in the forecast period. The increasing passenger traffic and the amplified demand for new aircraft and integrated airport systems are anticipated to assist in the development of the in countries like France.
The growing tourism motivates the Latin American region is expected to drive the market eventually. The progressively rising passenger air traffic despite economic and political volatilities is projected to benefit the long-term development of the region. Consequently, it is estimated that the Latin American regional market is expected to witness a CAGR of 7.58% during the forecast period. The region of Middle Eastern & African has been observing an impressive surge in the economic activities recently. The foremost factors supporting the regional economy are the amplified air travel and rising tourism rates. Qatar Airways, Emirates and Etihad Airlines lead the airlines indigenous to the region and are anticipated to witness a swift rise in the number of aircrafts in the region. Thus, the Middle Eastern & African region are anticipated to observe a CAGR of 7.22% in the forecast period.
Competition Tracking
Diehl Stiftung & Co. KG (Germany), Jamco Corporation (Japan), Cobham PLC (UK), United Technology Corporation (US), Astronics Corporation (USA), Recaro Aircraft Seating (Germany), Honeywell International Inc (U.S.), Panasonic Avionics (U.S.), Zodiac Aerospace (France), and Rockwell Collins (U.S.) are a few of the competitors shaping the market.
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