The global aircraft seating market is has been forecast to increase at a compound annual growth rate (CAGR) of 5.27% over the next five years, increasing from a value of $3.76 billion in 2012, to be worth a market value of $4.86 billion by 2017.
Key factors currently contributing to growth within the global aircraft seating market includes the growth in demand of fuel efficiency alongside the increase in air travel across all regions.
With the increase in global air travel, growth in Passengers' investment appetite and to fight against the rising fuel prices, airlines are continuously improving and improvising to enhance their passenger carrying capacity, luxury and comfort to the air travellers.
The recovery of the aviation sector from 2007-08 during the global economic crisis has helped commercial aircraft manufacturers with new orders. The majority of these orders are from emerging regional economies such as APAC & BRIC. The aircraft seating industry is witnessing new entrants from emerging economies within the narrow body segment, and it is expected that the aircraft seating market in China will witness the highest growth rate.
Low Cost Carriers (LCC) comprise 63% of the global fleet size. LCCs uses single aisle narrow body aircrafts, with the majority of LCC narrow body configurations being economy class seats. On the contrary, very large aircraft like the A380 includes the most luxurious aircraft seats - the Suites.
Commercial aircraft seats are of a variety of types depending on the luxury and comfort level, for example Suites, First class, Business class, Premium Economy class and Economy class. Of this segment, Business class seats will be the maximum revenue generator among the different types of seats for the global aircraft seat market.
B/E Aerospace is currently the leader in the global aircraft seating market with over 50% of the market. B/E Aerospace ensures that travellers truly enjoy air travel. A leading maker of cabin components for commercial, business jets and military aircraft, including aircraft seats, B/E Aerospace operates through three business segments, commercial aircraft, consumables management, and business jet, B/E sells its products to most major airlines and aviation OEMs.
For more information on the global aircraft seating market, see the latest research: Global Aircraft Seating Market
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