Forecast to be another profitable belt in terms of investment, APAC aircraft soft goods market is slated to record a 4% CAGR over 2018-2024. Growth drivers, as stated by analysts include expanding aviation commercial market along with increasing refurbishment activities. As per reports, the air carrier demand across APAC turf increased by 9.4% over 2016-2017, subject to significant increase in travel route options and macro-economic conditions.
Regionally, North America exhibits a strong stance in the global aircraft soft goods market landscape with a recorded share of USD 250 million in 2017. The region, endorsed with presence of myriad top-notch aircraft manufacturing companies, is anticipated to surpass a revenue of USD 300 million by 2024.
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Aircraft soft goods market, of late has been witnessing commendable advancements, given the rapidly changing dynamics of the aviation industry. Aircraft interiors, despite being a part of mainstream aviation for years, has lately come into the limelight as its commercialization has taken a new direction. Thanks to the advancement in infrastructure and globalization trends, there has been a robust increase in the number of passengers travelling by domestic and international flights. If estimates are to be believed, the global airplane delivery surged from 1,714 to 1,740 in a time span of one year between 2016-2017 to cover the production backlog. In consequence, this has resulted in an increase in aircraft production, thereby stimulating the global aircraft soft goods industry growth.
Enhancing overall customer experience has been another pivotal factor that has increased upholstery product usage such as curtains, carpets, and seat covers in the aircrafts. Refurbishment activities and cabin upgrades to ensure enhanced safety, aesthetics, and regulatory design standards have had a significant impact on the aircraft soft goods market demand. The replacement of conventional materials with advanced materials such as nylon fabric, synthetic leather, etc., for improving passenger comfort, surface texture, and overall cost effectiveness is further expected to drive substantial investment trends in R&D and product innovation of the overall aircraft soft goods market. This is quite evident from the efforts put in by prominent market players.
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Tapis Corporation, one of the leading players in aircraft soft goods market, has recently made its way to the front page, featuring its absolutely state of the art fabric on New Emirates 777-300ER First Class Suites. Reportedly, the company’s TapiSuede™ BHC-SS Flannel product has been chosen for these new suits, for the seat backshell. For the record, these premier suites were established by Emirates in collaboration with renowned seat manufacturer Rockwell Collions, industrial design firm Teague, airline manufacturer Boeing, and Jacques Pierre Jean. Tapis Corporation’s advanced product line coherently validates the fierce competitive scenario in aircraft soft goods industry and the ongoing developments this particular vertical is characterized by. Some of the other potential contenders in the marketplace include Anker Company, Spectra Interior Products, Mohawk Group, RAMM Aerospace, Lantal Textile AG, and InTech Aerospace.
Glimpse of Table of Content (ToC)
Chapter 3. Aircraft Soft Goods Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
3.4. Pricing analysis
3.4.1. By region
220.127.116.11. North America
18.104.22.168. Asia Pacific
22.214.171.124. Latin America
3.4.2. Cost structure analysis
3.5. Technology Landscape
3.6. Regulatory landscape
3.6.1. North America
3.6.3. Asia Pacific
3.7. Industry impact forces
3.7.1. Growth drivers
126.96.36.199. North America
188.8.131.52. Asia Pacific
3.7.2. Industry pitfalls & challenges
3.8. Innovation & sustainability
3.9. Growth potential analysis
3.10. Porter’s analysis
3.11. Competitive landscape, 2017
3.11.1. Company market share analysis
3.11.2. Strategy dashboard
3.12. PESTEL analysis
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