LONDON--(BUSINESS WIRE)--According to Technavio market research analysts, the global commercial aircraft cabin interiors market will grow at a CAGR of over 6% during the forecast period. Technavio’s latest research report on the global commercial aircraft cabin interiors market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline. In addition to this, another key factor driving the market’s growth is the growing preference for newer generation aircraft.
The commercial aircraft manufacturers have been actively developing newer-generation aircraft that feature reduced fuel consumption. The demand for air travel is expected to double over the next 20 years because of the growth in air travel in key countries such as China, India, Indonesia, Russia, and the US. The year-over-year increase in air traffic has also mandated the induction of new aircraft to facilitate this growing demand. As all commercial aircraft have cabin interiors, the global market for commercial aircraft cabin interior will grow parallelly with growing orders for new aircraft. Thus, both aircraft OEMs and their suppliers are revamping their production facilities to ensure scheduled deliveries.
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In this report, Technavio highlights the preference for collaborative efforts in the aerospace industry as one of the key emerging trends in the global commercial aircraft cabin interiors market:
Preference for collaborative efforts in the aerospace industry
Stringent regulatory norms have prohibited the entry of new vendors considerably in the aerospace manufacturing sector. But, new entrants have been allowed because of several factors such as the prolonged development phases of aircraft and requirement of partners who have proven expertise in specific fields. With the changing dynamics of the contemporary aerospace industry and the requirement of maintaining good parity between evolving demand and supply, several new vendors are anticipated to enter the market. OEMs are anticipated to encourage newcomers to invest in the market while representing their key areas of interests. Collaborations are becoming common, particularly among seat manufacturers and lighting system manufacturers.
“Many manufacturers are continuously seeking broader opportunities to improve their supplier bases to prevent sustaining negative developments, which may cause delays in aircraft deliveries. Such collaborations support the companies in expanding their market base and to tap into new emerging markets. Moreover, the sharing of technical expertise also allows faster product development. Smaller vendors can benefit from such collaborations and can attract other vendors to venture into the aerospace cabin interior product market,” says a senior analyst at Technavio for research on aerospace components.
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Global commercial aircraft cabin interiors market segmentation
This market research report segments the global commercial aircraft cabin interiors market into the following products (seating, lavatory module, windows, cabin panels, and stowage bins, galley, and lighting) and key regions (the Americas, APAC, and EMEA).
The seating segment held the largest market share in 2017, accounting for nearly 43% of the market. The market share of this product is expected to increase by over 3% during the forecast period and this is expected to remain the dominant segment through 2022.
The Americas was the leading region for the global commercial aircraft cabin interiors market in 2017, accounting for a market share of more than 44%. The market share contributed by this region is anticipated to decrease to some extent by 2022. However, the Americas will dominate the global market throughout the forecast period.
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