LONDON--(BUSINESS WIRE)--The global commercial aircraft seat belts market is expected to post a CAGR of nearly 8% during the period 2018-2022, according to the latest market research report from Technavio.
A key factor driving the growth of the market is the increase in aircraft deliveries. Air travel is expected to grow at a steady pace during the forecast period despite several challenges faced by the aviation industry. Low-cost carriers and regional airlines have revolutionized the airline business by introducing innovative low-fare business models. The demand in the air-travel industry is anticipated to increase during the forecast period due to the rising affluence of the middle classes in emerging economies.
This market research report on the global commercial aircraft seat belts market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the use of additive manufacturing technologies to produce belt buckles as one of the key emerging trends in the global commercial aircraft seat belts market:
Global commercial aircraft seat belts market: Use of additive manufacturing technologies to produce belt buckles
Additive manufacturing is a process in which a digital 3D design data is used to build a component in layers by depositing material. The application of this technique is increasing in aerospace manufacturing owing to the advancements in 3D printing, which offers products with different materials, such as metals, polymers, and composites. The rising popularity of 3D printing could enable a significant reduction in raw material waste. Thus, additive manufacturing is being used in the statement of aircraft to reduce the cost of ownership, decrease labor, and increase operational availability, which might have a drastic impact on the supply chain.
“Additive manufacturing is used in the aviation industry for various applications ranging from manufacturing simple objects like seat belt buckles to complex parts like engine components. Additive manufacturing is also considered to be economical and is the preferable choice for implementing quick design and rapid changes of internal features of the aircraft, overcoming the shortcomings of traditional manufacturing methods,” says a senior analyst at Technavio for research on aerospace products.
Global commercial aircraft seat belts market: Segmentation analysis
This market research report segments the global commercial aircraft seat belts market by geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of nearly 40%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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