Automotive Electric Power Steering Systems Market emerges with UTC AEROSPACE SYSTEMS, HONEYWELL, ST AEROSPACE, ZODIAC AEROSPACE during 2018-2023

Market Analysis:

North America controls a majority of the commercial jet business. Asia-Pacific, led by India and China, is expected to be a fast-growing region in the cabin interior segment, until 2023. The major market drivers include the worldwide emphasis on travelers’ comfort and increasing air passengers. Demand would depend on passenger travel to a large extent; increment in traveler numbers would further increase the demand for commercial aircraft and cabin seats.

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Airbus generated a backlog of 6,787 aircraft, which represents almost 10 years’ worth of production. Even Boeing, which has fallen behind Airbus regarding orders bagged, has accumulated a backlog of more than 4,000 planes, of which 75% are the upcoming 737 MAX airplanes. This factor is expected to limit the growth of the cabin interior market, as the number of new airplanes entering the market is expected to accelerate at a slow rate, during the forecast period. Thus, the seats for the economy class segment are anticipated to witness higher sales and growth, during the forecast period. Complexity in retrofitting the aircraft interiors is expected to be a restraint for the market.

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Market Segments:
Automotive Electric Power Steering Systems Market is segmented by:
1. Component Type:Steering Wheel/Column, Sensors, Steering Motor,Others
2. Vehicle Type: Passenger Cars, LCV, Heavy Vehicles
3. Technology Type: Electrically-Powered Hydraulic Steering (EPHS), Electro-Hydraulic Power Steering (EHPS), EPS, Others
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• Rockwell Collins planned to integrate B/E aerospace’s business segment with a low-risk plan.
• Safran offered to acquire, cabin interior and seat manufacturer, Zodiac Aerospace at a reduced price per share worth USD 28.

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