Aircraft Cabin Interior Market : Seat, Cabin Lighting, In-flight Entertainment and Connectivity 2021-2031

According to a new report published by Allied Market Research, titled, "Aircraft Cabin Interior Market," The aircraft cabin interior market was valued at $22.8 billion in 2021, and is estimated to reach $38.5 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.

Asia-Pacific is expected to be one of the fastest growing regions in the global aircraft cabin interior market during the forecast period. This is primarily due to the active presence of market players across the region and an increase in the adoption of better and more efficient cabin interior systems by airlines in the region. For instance, in September 2022, HAECO Cabin Solutions, a business unit of the HAECO Group specializing in aircraft seating, interiors, and cabin reconfiguration based in the Americas and ANH Structure, Korea's leading aerospace companies specializing in aerostructure and cabin interior, have reached an agreement to continue a partnership to serve airline customers with engineering services and associated kits in Asia. Moreover, the market growth is supplemented by factors such as a surge in the number of aircraft deliveries, increased use of lightweight materials in manufacturing aircraft cabin interiors, and a rise in the replacement of old aircraft across the region.

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According to International Air Transport Association (IATA), Total traffic in September 2022 (measured in revenue passenger kilometers or RPKs) increased by 57% compared to September 2021. Asia-Pacific airlines saw a 464.8% rise in September traffic compared to September 2021, the strongest year-over-year rate among the regions. Capacity rose 165.3% and the load factor was up 41.5 percentage points to 78.3%. Such growth of air travel across the region is anticipated to boost the growth of the market across the region during the forecast period.

Moreover, a rise in investment by aircraft cabin interior manufacturers within the Asia-Pacific aircraft cabin interior market, coupled with the development of new systems is expected to support the market competitiveness during the forecast period. For instance, in September 2022, HAECO Private Jet Solutions, a cabin specialist unit of Hong Kong Aircraft Engineering Company Limited developed "Lotus", a new cabin design concept for the Airbus A319neo aircraft.

COVID-19 Impact Analysis :

Lockdowns undertaken by many countries in response to the rapid spread of the COVID19 virus have impacted activities in defense, aviation, electronics, and other industries. Governments around the world emphasized the healthcare industry to tackle the spreading COVID-19 virus, which harmed the defense industry's performance. Owing to growing trade restrictions, revenue crisis and raw material scarcity were among the key concerns negatively impacting the aircraft manufacturing companies, and many airlines postponed or declined their aircraft orders and flights.

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KEY FINDINGS OF THE STUDY :

By product type, the In-flight Entertainment and Connectivity segment is anticipated to exhibit significant growth in the near future.

By aircraft type, the wide body aircraft segment is anticipated to exhibit significant growth in the near future.

By class, the business class segment is anticipated to exhibit significant growth in the near future.

By end-user, the retrofit segment is anticipated to exhibit significant growth in the near future.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global aircraft cabin interior market include Acro Aircraft Seating Astronics Corporation, Aviointeriors S.p.A., Diehl Stiftung & Co. KG, GAL Aerospace, Hong Kong Aircraft Engineering Company Limited, Jamco Corporation, Raytheon Technologies Corporation, Safran S.A., and Thales Group.

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