Increasing aircraft demand owing to rising air passenger traffic across the globe will drive the aircraft seating market. Airliners are upgrading their aircraft fleet and introducing new routes to cater to the leisure and corporate travelers. Advancements in seats along with enhanced ergonomic designs are contributing significantly towards improving the air travel experience. Additionally, major airliners are focusing on utilizing maximum space in their aircrafts by optimizing legroom to accommodate high number of passengers.
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Airline operators are focusing towards maintaining passenger retention and enhance brand image to increase profit margins. Passengers are expecting enhanced comfort while travelling that generates the requirement for periodic refurbishment of aircraft seats. The airlines are adopting new seating products with wider pitch, increased legroom, and higher safety that enhances customer travelling experience over longer journey routes. These factors will further boost the aircraft seating market penetration over the forecast timeframe.
Business class will showcase considerable growth in the aircraft seating market over the study timeframe. This can be credited to the growing business travels and emergence of high net worth individuals across the globe. The airlines are developing new business class concepts that offers enhanced privacy and comfort. Additionally, airlines are continuously investing for improving its business class cabins for catering to a wide customer base. For instance, in 2019, British Airways announced an investment amounting to USD 8.54 billion for improving its business class suites.
The integration of advanced sensor technologies within aircraft seats allows passengers to adjust the seats as per their comfort. Industry participants are focusing on designing slim profile seats that increases the legroom space, thereby improving the air passenger comfort. Additionally, development of new fabrics including carbon fiber fabrics enables seat manufactures to reduce aircraft seat weight by up to 20% without hampering the mechanical properties, thereby expanding the aircraft seating market share over the projected timeframe.
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Line fit will account for a significant share in the aircraft seating market share owing to increasing aircraft production across the globe. For instance, in January 2018 Boeing announced the increasing 737 aircraft production up to 52 aircrafts per month from mid of 2018. Airlines are increasing their domestic flight frequencies along with ordering advanced aircrafts for catering to the increasing air passenger traffic. For instance, in July 2018, Vistara announced the purchase of 19 planes worth USD 3.1 billion.
North America accounts for a significant volume share in the aircraft seating market. The dominance can be attributed to the presence of major aircraft manufacturers across the region. Manufacturers are increasing aircraft production along with opening of new production facilities for catering to the increasing aircraft demand. For instance, in April 2016, American Airlines signed a purchase order of 47 787 Dreamliner aircrafts.
Prominent participants in aircraft seating market includes Lufthansa Technik, Mirus Aircraft Seating, Stelia Aerospace, Recaro Aircraft Seating, Geven, JAMCO, Safran, and Collins Aerospace. Industry players are engaged in strategic contracts with airlines and aircraft manufacturers to enhance their aircraft seating market share. For instance, in April 2019, Recaro Aircraft Seating signed a contract with Airbus to provide economy class and business class seating for Airbus A320.
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