May 12, 2020
As per the report titled ‘Global Aircraft Cabin Interiors Market Size study, by End User (OEM, Maintenance, Repair, & Overhaul (MRO), Aftermarket), by Aircraft Type (Narrow Body Aircraft (NBA), Wide Body Aircraft (WBA), Very Large Aircraft (VLA), Business Jets, Regional Transport Aircraft (RTA)), by Type (Aircraft Seating, In-Flight Entertainment & Connectivity, Aircraft Cabin Lighting, Aircraft Galley, Aircraft Lavatory, Aircraft Windows & Windshields, Aircraft Stowage Bins, Aircraft Interior Panels), by Material (Alloys, Composites, Others) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global aircraft cabin interiors market was worth USD 27 billion in 2018 and is projected to register 5.85% CAGR during 2019-2026.
Increasing demand of new aircrafts due to rising air passenger traffic is driving the growth of global aircraft cabin interior market. According to International Civil Aviation Organization, the number of air passengers totaled 3.79 billion in 2017 is estimated to reach 8.2 billion in 2037. Hence, the demand for aircraft cabin interiors will continue to see an upward trend for years to come.
Growing focus among airliners towards enhancing the customer experience by improving interior aesthetics in new aircrafts and upgradation of cabin interiors in existing aircrafts are augmenting the market growth. Moreover, upsurge in demand for premium economy seats and growing popularity of air travel in emerging economies will further boost the business scenario.
Aircraft cabin interiors comprise of several components including seating, in-flight entertainment connectivity, galley, cabin lighting, lavatory, storage bins, windshield, windows, and interior panels. Apart from these, integration of additional features such as Wi-Fi connectivity and innovative interior lighting systems will expand the product portfolio, thereby positively impacting the business landscape.
In addition, rising penetration of low-cost airlines is likely to create lucrative growth opportunities in the coming years. However, cybersecurity concerns related to air traffic control (ATC), high installation cost, and delayed aircraft deliveries may hamper the industry growth during the forecast period.
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As per the regional analysis, global aircraft cabin interiors market is divided into North America, Europe, Asia Pacific, Latin America and Rest of the World. North America holds a significant market share on account of rapid growth of aviation industry and presence of major aircraft manufacturing companies like Boeing and Bombardier in U.S and Canada.
Major industry players include Astronics Corporation, Diehl Stiftung & Co. Kg, Cobham PLC, Global Eagle Entertainment Inc., Honeywell International Inc., Gogo Inc., Panasonic Avionics Corporation, Rockwell Collins, Inc. (Collins Aerospace), RECARO Aircraft Seating GmbH & Co. KG, and Thales Group.