Aircraft Cabin Interior Market Anticipated to Reach $38.5 Billion by 2031, Growing at a CAGR of 5.6%

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.

Significant factors that impact the growth of the aircraft cabin interior market comprise the growing necessity for 16g seats for safety, the changing preference for greater passenger comfort, the expansion of in-flight entertainment systems, and the growth of the Urban Air Mobility (UAM) platform. However, factors such as severe aviation restrictions on aircraft interiors as well as high-cost criteria for aircraft interior installation are expected to hamper the market growth. Furthermore, the adoption of low-cost carriers (LCC) in emerging nations is expected to create new growth opportunities for the aircraft cabin interior market during the forecast period.

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Furthermore, on-demand aviation services, comparable to transportation network providers such as Uber, have entered the market in recent years. As of March 2020, 12 app- and web-based on-demand UAM passenger services using helicopters and fixed-wing aircraft were active worldwide. Several firms have stated ambitions to develop passenger UAM services based on VTOL and other new aircraft designs. For instance, a few planned services include Volocopter in Singapore in 2021, EHang in Linz, Austria in 2021, Vertical Aerospace in London in 2022, and Joby Aviation (also acquired Uber Elevate) in 2024. It will provide opportunities to manufacturers to design attractive cabin interiors.

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.

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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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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.

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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