What’s driving the Aircraft Cabin Interior Market Size?| Key Players Are United Technologies Corporation, Zodiac Aerospace, Cobham Plc, Panasonic Avionics Corporation, Diehl Stiftung & Co. KG, and Honeywell International
Aircraft Cabin Interior Market size is poised to secure a healthy growth rate in the coming years due to increasing demand for low cost carriers offering expanded routes networks across long distance at lower fares. Rising aircraft production on account of improving air passenger travel and proliferating tourism industry are further expected to positively influence the industry share.
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Rising focus of aircraft manufacturers to improve the passenger in-flight experience along with increasing incorporation of advanced entertainment facilities are expanding the aircraft cabin interior market size. Moreover, aircraft manufactures are continuously focusing on utilizing the maximum space possible on an aircraft to accommodate maximum seats for supporting the rising air travel demand.
Industry participants are continuously investing in R&D for developing aircraft cabin interior with lower weight, and superior strength properties. For instance, in April 2014, SCHOTT showcased its advanced Xensation cover glass laminate, that is used in interior sidewall window panes in passenger aircrafts. Moreover, the product offers superior mechanical reliability along with improved fire protection capabilities, thereby positively influencing the aircraft cabin interior market share.
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Based on product, the aircraft cabin interior market share is categorized into windows, seating, lavatories, and stowage bins. The growth in the stowage bins can be attributed to the increasing requirement for storing luggage and bags during flight journey. Aircraft manufactures are focusing on developing lower weight and highly durable bins with a focus on maintaining its rigidity over long distances. Moreover, the advanced locking mechanism allows for the luggage to remain in place during the entire flight journey, thereby expanding the segment share over the projected timeframe.
Based on aircraft, the aircraft cabin interior market is classified into commercial aircraft, military aircraft, regional aircraft, and helicopters. Commercial aircraft will exhibit significant growth over the projected timeframe. This can be credited to the rising air passenger traffic globally. Moreover, the airliners are focusing on improving in-flight experience by incorporating high-end and luxurious features in their aircrafts, thereby expanding the market size.
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North America will account for the maximum share in aircraft cabin interior market size. This can be credited to the presence of major aircraft manufacturers including Boeing, Lockheed Martin, and Airbus among others focusing on developing advanced and light weight aircrafts. Moreover, rising air passenger travel across the region along with improving tourism sector are further supporting the regional share over the study timeframe. For instance, according to the IATA, the U.S. will account for around 481 million new passengers by 2037.
Few players operating in the aircraft cabin interior market share include United Technologies Corporation, Zodiac Aerospace, Cobham Plc, Panasonic Avionics Corporation, Diehl Stiftung & Co. KG, and Honeywell International (US). Industry players are engaged in gaining long term contracts and agreements from airliners to improve their market share. For instance, in September 2018, Panasonic Avionics Corporation entered into a strategic contract with EgyptAir for providing in-flight connectivity and entertainment solutions for its Airbus A320neo aircrafts.
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