Commercial Aircraft Cabin Interiors Market To Chart Ascendant Growth Trajectory With 6.81% CAGR In The Forecast Period 2018-2023.
Key players leading the global commercial aircraft cabin interior market include United Technology Corporation (US), Zodiac Aerospace (France), Jamco Corporation (Japan), Cobham PLC (UK), Panasonic Avionics (US), Astronics Corporation (USA), Recaro Aircraft Seating (Germany), Diehl Stiftung & Co. KG (Germany), Honeywell International Inc (US), and Rockwell Collins (US) among others.
The commercial aircraft cabin interior market is growing significantly over the past few years. Growth in the number of fleets fuelled by increasing passenger traffic has been instrumental to the growth of the market. Moreover, rising investments from airlines in terms of cabin interior products to increase the comfort and luxury quotient of their service offering escalate the market on the global platform.
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Considering the huge growth, the market is witnessing at present, Market Research Future (MRFR) in its recently published study analysis confirms that the global commercial aircraft cabin interior market would further garner exponential gains by 2023, registering a phenomenal CAGR throughout the forecast period (2018 – 2023).
Passenger comfort is a key driving force behind the changes that are now transforming the commercial aircraft cabin interior market. Demand for lightweight and fuel-efficient aircraft are also some of the major factors that are pushing up the demand in the market. Moreover, the integration of in-flight entertainment systems in aircraft cabin interior designs is increasing the size of the market, increasing the appeal if the aircraft interior.
On the other hand, technical incompetence and the intricacy level in retrofitting aircraft interiors are some of the key factors posing challenges to the growth of the market.
Innovation/ Industry/Related News:
June 11, 2019 —– The Raytheon Company (the US), a major defense contractor with core manufacturing concentrations in military weapons and commercial electronics and United Technologies Corporation (the US), a multination conglomerate providing technology products and services to building systems and aerospace industries announced the merger of their aerospace businesses.
The merger is expected to close by 2020, following the completion of UTC portfolio separation and the combined company will be known as Raytheon Technologies Corp. Companies are combining in an all-stock “merger of equals” to focus on rapidly growing segments within aerospace and defense. United Technologies, with its subsidiaries – Collins Aerospace and Pratt & Whitney, would offer a complementary portfolio of commercial aerospace and defense technologies to defense-focused Raytheon.
Commercial Aircraft Cabin Interior Market – Competitive Landscape
Highly competitive, the Aircraft Cabin Interior Market appears to be fragmented characterized by the presence of several well-established and small players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product launch to gain a competitive advantage in this market.
With the entry of new entrants in the market, a trend of solid, volume-driven growth has been observed alongside the addition of new and advanced products. Companies are aiming to strengthen their share in the market by competing and experimenting with various advantage points. Continuous process improvements and investments in optimal strategies are expected to fetch long-term growth opportunities in the market.
Commercial Aircraft Cabin Interior Market – Segments
For a better understanding, the report has been segmented into four key dynamics:
By Product Type : Seating, Lighting, Windows & Windshield, Galley & Lavatory, and In-Flight Entertainment
By Aircraft Types : Wide-body and Narrow-body Aircraft.
By Fit : Line Fit and Retro Fit.
By Regions : Asia Pacific, Europe, North America, and Rest-of-the-World.
Commercial Aircraft Cabin Interior Market – Geographical Analysis
North America, heading with the well-established aviation-related industries accounts for the leading region in the global commercial aircraft cabin interior market. Factors such as a robust aviation manufacturing base and massive demand for OEM and aftermarket parts allows this region to grow, exceeding the demand from airline companies. The regional market is expected to grow further at a CAGR of 6.34% during the review period due to the rising number of aircraft as well as the retrofit purposes.
The commercial aircraft cabin interior market in the European region accounts for the second-largest market, globally. The presence of the world’s largest aviation manufacturing industry in the region drives the growth of the market, hugely.
Furthermore, the increasing purchasing power would foster the growth of the regional market, stimulating the demand for air travel in the region. Additionally, due to the amplified demand for new aircraft, the Europe commercial aircraft cabin interior market would grow at a CAGR of 6.21% over the assessment period.
The Asia Pacific commercial aircraft cabin interior market has emerged as a promising market, globally. The demand for aircraft interior in the region is gradually growing with the demand for aircraft led by the increasing air travels and the strengthening economy in the APAC countries such as India, China, and South East Asian countries.
The increasing number of aircraft manufacturers and OEM & aftermarket parts companies shifting their bases in the emerging economies of Asia Pacific is providing impetus to the market growth.
Research Methodology
Market Research Future’s research methodology delivers exclusive perspectives on the assorted markets that its reports focus on. The comprehensive practices and procedures harnessed by the research team encompass selecting, identifying, processing, and examining data which is the vital core of the research process. The methods used have enabled the operation of the finest techniques that support the discovery of the newest trends in the market. The top-down and bottom-up approaches have been exploited to guarantee a reliably high report quality. The data analysts at MRFR also stress upon the top trends that can be utilized to augment market gains. The secondary data sources contain a varied range of reliable sources such as white papers and annual reports. The reports also permit a merged view of the market in diverse geographies and revenue pockets. Moreover, the research strategy applied assures appropriate data analysis and the most neutral stances on market advances.
List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Commercial Aircraft Cabin Interior Market: Regulatory Landscape
Table 4 Major Granted Patents on Aircraft Cabin Interior (1st October 2014 – 1st October 2018)
Table 5 Global Commercial Aircraft Cabin Interior Market, by Product Type, 2016-2023 (Usd Million)
Table 6 Seating: Commercial Aircraft Cabin Interior Market, by Region, 2016-2023 (Usd Million)
Table 7 in-flight Entertainment: Commercial Aircraft Cabin Interior Market, by Region, 2016-2023 (Usd Million)
Table 8 Lighting: Commercial Aircraft Cabin Interior Market, by Region, 2016-2023 (Usd Million)
Table 9 Galley: Commercial Aircraft Cabin Interior Market, by Region, 2016-2023 (Usd Million)
Continued………
List of Figures
Figure 1 Global Commercial Aircraft Cabin Interior Market: Market Structure
Figure 2 Research Process of Mrfr
Figure 3 Top-down & Bottom-up Approaches
Figure 4 Dro Analysis of Global Commercial Aircraft Cabin Interior Market
Figure 5 Air Transport, Passengers Carried (2006–2016)
Figure 6 Drivers Impact Analysis: Commercial Aircraft Cabin Interior Market
Figure 7 Aircraft Production Vs Total Backlog, Boeing Vs Airbus, 2017
Figure 8 Restraints Impact Analysis: Commercial Aircraft Cabin Interior Market
Figure 9 Supply Chain: Global Commercial Aircraft Cabin Interior Market
Continued……….
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