According to a new market report published by Lucintel, the future of the aerospace interior market looks positive with opportunities in seating, inflight entertainment (IFE), galley, lavatory, stowage bin, and panels. The global commercial aerospace interior market is forecast to grow at a CAGR of 4.0% from 2015 to 2020. The major growth drivers of this market are increasing deliveries of aircraft, replace and renovation of the aircraft interior and the increasing demand for the customized Interior. Customized interior helps airlines to differentiate from the competitors on the basis of interiors that act as a touch point of customer’s service, helping to distinguish one brand from another.
In this market, seating, IFE (In Flight Entertainment), galley, lavatory, stowage bin, and panels are used in aircraft interior. Lucintel predicts that the demand for seating segment is likely to experience the highest growth in the forecast period supported by increase in the aircraft delivery, increasing seating capacity of the aircraft and up-gradation of seats in old aircraft. On the basis of its comprehensive research, Lucintel forecasts that the seating and IFE segment are expected to show above average growth during the forecast period.
Within the aerospace interior market, the seating segment will remain as the largest segment because of increasing demand for thinner seats which reduces seat pitch value and provide additional seats in the same area of an aircraft.
North America was the largest market, which held 30% of the total commercial aerospace interior market by value in 2014. Increase in number of aircraft delivery, air traffic rate and growth of the airline industry leading to the growth of commercial aerospace interior market.
For market expansion, the report suggests innovation and new product development, where the unique feature of aerospace interior can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and the development of performance-driven solutions for end users.
Emerging trends, which have a direct impact on the dynamics of the industry, include the increasing use of lightweight aerospace interior products/components, and increase in per-person space allocation. Panasonic Avionics Corporation, Zodiac Aerospace, Thales Group, B/E Aerospace, and Diehl are among the major suppliers of aerospace interior. Some companies are opting for M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the commercial aerospace interior market by product type, platform, and region and has come up with a comprehensive research report, “Opportunities in Global Commercial Aerospace Interior Market 2015-2020: Market Size, Market Share, Trend and Forecast Analysis.” The Lucintel report serves as a springboard for growth strategies, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the airport service industry through 2020, segmented by product type, platform, and region as follows:
By product type (Value $ Million from 2009 to 2020)
• IFE (Inflight Entertainment)
• Stowage bins
By platform (Value $ Million from 2009 to 2020)
By region (Value $ Million for 2014)
• North America
• Asia Pacific
• Rest of the World
This 162 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email@example.com. Lucintel offerings include Aerospace Report, Defense Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.