Press release
Aircraft Seat Actuation System Market worth $763 million by 2025
The report "Aircraft Seat Actuation System Market by Type (Electromechanical, Pneumatic, Hydraulic), End User (OEM, Aftermarket), Aircraft Type, Seat Class, Component, and Region - Global Forecast to 2025", size is projected to grow from USD 496 million in 2020 to USD 763 million by 2025, at a CAGR of 9.0% from 2020 to 2025. The market is driven by various factors, such as increase in demand for premium economy seats and maintenance & retrofitting of existing aircraft.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=43853437
The aircraft seat actuation system market includes major players Astronics Corporation (US), ITT Inc. (US), Crane Co. (US), Collins Aerospace (US), and Bühler Motor GmbH (Germany). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect aircraft seat actuation system production and services by 7–10% globally in 2020.
Growing air passenger traffic and replacement of aging aircraft is driving the growth of fixed wing aircraft
The electromechanical segment is expected to be the largest market by value. The growth of the electromechanical segment of the aircraft seat actuation system market can be attributed to the application of electromechanical actuation system for both linear and rotary mechanism.
The OEM segment is projected to witness a higher CAGR during the forecast period
Based on end user, the OEMsegment is projected to be the highest CAGR rate for the aircraft seat actuation system market during the forecast period. The growth of the OEM segment of the aircraft seat actuation system market can be attributed to the increased demand for customized aircraft that are fitted with various components as retrofitting existing aircraft is a cumbersome process for airlines.
The rotary wing segment is projected to witness a higher CAGR during the forecast period
Based on the aircraft type, the rotary wing segment is projected to be the highest CAGR rate for the aircraft seat actuation system market during the forecast period. The rotary wing segment includes only helicopters. Over the past few years, countries such as the US, France, Russia, and Italy have made considerable investments in the commercial sector. Russian helicopters have been focusing to promote its chopper Ansat for the civilian market in India. In addition, the increase in government budgets for VIP/VVIP transport has enabled the procurement of new aircraft, including helicopters, which is expected to drive the rotary wing segment.
The first class and economy class segments are projected to witness the highest CAGR during the forecast period
Based on the seat class, the first class and economy class segments are projected to grow at the highest CAGR rate for the aircraft seat actuation system market during the forecast period. First class seats are one of the most expensive classes among all the classes of seats that airlines provide. The first class includes large reclining seats with more legroom and width than other classes to suites with a fully reclining seat, workstation, and an entertainment system surrounded by privacy dividers. Hence, increasing demand of IFEC systems drives this segment. High demand for economy class seats is witnessed with the growth of LCC aircraft. LCCs provide air travel at a minimum cost, as they do not have meal services included in the ticket price
The passenger control unit segment is projected to witness the highest CAGR during the forecast period
Based on component, the passenger control unit segment are projected to grow at the highest CAGR rate for the aircraft seat actuation system market during the forecast period. The growth of the passenger control unit segment of the aircraft seat actuation system market can be attributed to the retrofitting of existing aircraft.
The North America market is projected to contribute the largest share from 2020 to 2025
North America is projected to be the largest regional share for the aircraft seat actuation system market during the forecast period. The key factor responsible for North America, leading the aircraft seat actuation system market owing to the rapid growth of the technologically advanced seating system in the region. The increasing use of technology in aircraft presents several opportunities for aircraft seating technology manufacturers.
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Leading aircraft manufacturers, such as The Boeing Company and Bombardier, and major aircraft system and component manufacturers, such as Collins Aerospace, Astronics Corporation, ITT Inc., and Crane Co. are headquartered in North America. Some of the largest commercial airlines (based on fleet size), such as American Airlines Group, Delta Air Lines, Inc., and United Airlines, are also headquartered in the region.
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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