What’s driving the Aircraft Cabin Interiors Market Trends?| Key Players are RECARO Aircraft Seating GmbH & Co. KG, Zodiac Aerospace, Panasonic Avionics, United Technologies Corporation, Honeywell International, Astronics Corporation
Aircraft Cabin Interiors Market is set to grow significantly during the forecast timeframe driven by rising preference for airliners to incorporate high end and premium interiors along with focus on improving passenger comfort. The continuous focus on improving operating margins by incorporating maximum seating capacities in the aircraft along with improvements in plastics used for manufacturing aircraft cabin interiors are expected to positively influence the aircraft cabin interiors market.
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Airliners are focusing on improving the overall air travelling experience by incorporating multiple features in the aircrafts including mood lighting, advanced configurable seats, and infotainment systems. Moreover, aircraft cabin interiors market players are also focusing on improving the overhead storage bins to support luggage during turbulent climatic conditions during the entire flight journey. Most airliners are focusing on using plastics and composites to manufacture the interiors compared to the traditional metal parts to reduce the overall aircraft weight.
Industry players are continuously investing in R&D and developing innovative solutions for supporting the aircraft cabin interiors market share. For instance, in 2017, Panasonic Avionics launched its “NEXT” series of in-flight infotainment systems for aircrafts. These systems are integrated with 4K resolution screens and include the new generation modem technology offering connectivity speeds of up to 250 megabytes per second. This also enables for consumers to stream and opt for various on demand content services.
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Based on product, the aircraft cabin interiors market share can be segmented into seating, cabin lighting, galley, lavatory, windows & windshields, and others. The seating will account for a significant share owing to the improvements for enhancing customer travel experience. The ability of the seats to tilt and adjust based on the passenger requirements further enhances the segment share. Moreover, industry players are focusing on adding maximum seating capacities in aircrafts for catering to the growing air passenger demand and improve their margins.
Based on aircraft, the aircraft cabin interiors market share can be classified into commercial, business, and regional aircrafts. The growth in the commercial aircrafts can be credited to the increasing air passenger travel across the globe. Moreover, the proliferating tourism industry coupled with the rising demand for low cost carriers are expected to positively influence the industry share over the study period. Moreover, aircraft manufacturers are launching upgraded new aircraft models for catering the rising global air travel demand. For instance, Boeing announced the first delivery of its 777X aircraft in 2020.
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The aircraft cabin interiors market size based on fit can be categorized into line fit and retrofit. The increasing demand for retrofit can be credited to the stringent government regulations mandating the testing of aircraft components to maintain airworthiness. Moreover, the frequent usage of the interior components leads to wear and tear, that require appropriate maintenance, thereby expanding the segment size over the projected timeframe.
Few of the major players operating in the aircraft cabin interiors market share include RECARO Aircraft Seating GmbH & Co. KG, Zodiac Aerospace, Panasonic Avionics, United Technologies Corporation, Honeywell International, Astronics Corporation, Gogo, Cobham Plc, Global Eagle Entertainment, and Diehl Stiftung & Co. KG. Industry participants are engaged in strategic acquisitions and mergers for improving their market share. For instance, in 2018, Safran and Zodiac Aerospace announced the completion of their merger. This merger enabled both the companies to streamline their business operations and improve their profit margins.
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