Business class will showcase considerable growth in the aircraft seating market over the study timeframe. This can be credited to the growing business travels and emergence of high net worth individuals across the globe. The airlines are developing new business class concepts that offers enhanced privacy and comfort. Additionally, airlines are continuously investing for improving its business class cabins for catering to a wide customer base. For instance, in 2019, British Airways announced an investment amounting to USD 8.54 billion for improving its business class suites.
Increasing aircraft deliveries owing to rising air passenger traffic across the globe coupled with growing business travel activities are driving the aircraft seating market demand. The airlines are demanding advanced seating solutions with optimum usage of space, cost effective maintenance, along with highly durable and flexible design. Additionally, the proliferation of low-cost carriers is enabling aircraft manufacturers to optimize their plane design for incorporating maximum seats for accommodating higher passengers to improve operational efficiency.
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Airline operators are focusing towards maintaining passenger retention and enhance brand image to increase profit margins. Passengers are expecting enhanced comfort while travelling that generates the requirement for periodic refurbishment of aircraft seats. The airlines are adopting new seating products with wider pitch, increased legroom, and higher safety that enhances customer travelling experience over longer journey routes. These factors will further boost the aircraft seating market penetration over the forecast timeframe.
Technological advancements in aircraft seats including the integration of sensors in seats for enabling passengers to adjust their seat position with applications and software are providing a positive outlook for the aircraft seating market expansion. The slim profile of seats enables aircraft manufacturers to reduce the overall weight along with improving legroom space. For instance, in February 2019, Hubert designed a new seat for Airbus that analyzes data and adjusts the seat to fit the ergonomics of passengers automatically.
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Narrow body aircraft seating market share is expected to witness highest growth rate over the forecast timeframe. This growth can be attributed to the increasing demand for low cost air carriers across the globe. Additionally, the higher fuel economy and operational efficiency along with improvements in fuel tanks and higher wing load capacities further accelerates the segment demand over the study timeframe.
Business class will showcase considerable growth in the aircraft seating market over the study timeframe. This can be credited to the growing business travels and emergence of high net worth individuals across the globe. The airlines are developing new business class concepts that offers enhanced privacy and comfort. Additionally, airlines are continuously investing for improving its business class cabins for catering to a wide customer base.
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Line fit will account for a significant share in the aircraft seating market share owing to increasing aircraft production across the globe. For instance, in January 2018 Boeing announced the increasing 737 aircraft production up to 52 aircrafts per month from mid of 2018. Airlines are increasing their domestic flight frequencies along with ordering advanced aircrafts for catering to the increasing air passenger traffic. For instance, in July 2018, Vistara announced the purchase of 19 planes worth USD 3.1 billion.
North America accounts for a significant volume share in the aircraft seating market. The dominance can be attributed to the presence of major aircraft manufacturers across the region. Manufacturers are increasing aircraft production along with opening of new production facilities for catering to the increasing aircraft demand.
Prominent participants in aircraft seating market includes Lufthansa Technik, Mirus Aircraft Seating, Stelia Aerospace, Recaro Aircraft Seating, Geven, JAMCO, Safran, and Collins Aerospace. Industry players are engaged in strategic contracts with airlines and aircraft manufacturers to enhance their market share.
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