Aircraft Cabin Interior Market (CAGR of 11.26%) is Estimated to Garner USD 28.12 Billion by 2023

(AmericaNewsHour via Comtex)

Aircraft cabin interior consists of several components which provide the aircraft cabin with pertinent aesthetic and structural glimpse. The interior of the aircraft cabin is assembled in such a way so that the passengers can travel with convenience and feel comfortable throughout their journey.

Global aircraft cabin interior market is expected to witness a lucrative growth in near future owing to rise in air traffic across the globe and growing trend of in-flight entertainment. In, addition to this, product innovation and increase in number of aircrafts are likely to grow need of refurbishment and maintenance in order to provide better services to the passengers.

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Market size and forecast

The global aircraft cabin interior market is predicted to expand significantly at a CAGR of 11.26% over the forecast period i.e. 2016-2023. Moreover, the market of aircraft cabin interior accounted for USD 15.52 Billion in 2015 and is further estimated to garner USD 28.12 Billion by 2023. The demand for in-flight entertainment systems are predicted to witness a significant growth in near future, owing technologically advancement in aircraft interiors and modification of cabin components. The seats segment is predicted to account for highest share of 27.5% of the overall market of aircraft cabin interiors over the forecast period.

North America accounted the highest market share of 45% in terms of revenue in overall market of aircraft cabin interior across the globe. North America region is expected to continue its dominance over the forecast period i.e. 2016-2023 due to increasing air traffic and sales of commercial jet across the region. On the other hand, Asia-Pacific is expected to be the second largest share contributor across the globe in the market of aircraft cabin interior due to presence of emerging nations such as India, China, etc., rising adoption advanced technology and positive increase in GDP figure.

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Rapid growth in urbanization and increasing globalization are estimated to attract more passengers for flight journeys in order to save time, availability of striking and durable interiors for aircraft cabin are some of the aspects which are likely to throw a positive impact on the growth of aircraft cabin interior market in near future. Moreover, adoption of modern and customized cabin interiors by airline companies for the convenience of passengers is predicted to get more demands from across the globe during the forecast period i.e. 2016-2023.

Leading Companies of Automotive Industry:

B/E Aerospace, Inc, United Technologies Corporation, Aviointeriors S.P.A., Panasonic Avionics Corporation, Turkish Cabin Interior Inc., HAECO Group, C&D Zodiac, Other Key Players

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Market Segmentation:
By Product
By Applications
By Aircraft Type
By Cabin Class
By Fit
By End-User
By Regions

Growth Drivers and challenges

Rising concern towards interior maintenance of aircraft cabins, availability of customized and modern interior components, introduction of technologically advanced interior components with internet enabled services and rising need for in-flight entertainment from passengers end are some of the key elements which expected to fuel the growth of market of aircraft cabin interior in near future.

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In addition to this, factors such as intensification of air traffic, growing economies across the globe due to globalization, periodic refurbishment of interiors in order to keep the aircraft interior attractive and comfortable as well as increasing numbers of long journeys by aircrafts expected to prompt the demand for aircraft cabin interior over the forecast period i.e. 2016-2023.

However, high cost of customized aircraft cabin interiors which in results increase the cost of travelling, presence of poor quality of equipment, decline in sales of commercial jets owing to increase in fuel prices are some of the factors likely to hinder the market of aircraft cabin interior market across the globe.

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