The aircraft cabin interior market is expected to grow by 3.5% Y-o-Y in 2016, and surpass US$ 14.5 Bn in revenues according to a new report by Future Market Insights (FMI).
On the basis of product type, the aircraft cabin interior market is segmented into flooring, sidewalls/liners, overhead bins, seats, monuments, lavatories and other components such as in-flight entertainment system and cabin lighting system. The seats segment is the largest in terms of value, and is estimated to account for 28.3% share of the overall market. Increasing emphasis on comfort, especially in long-haul flights and introduction of premium economy seats is fuelling the growth of this segment.
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Growing trend of aircraft leasing and frequent refurbishment of aircraft has had a positive impact of the aftermarket sales of aircraft cabin interior. The aftermarket sales segment is expected to account for 25% revenue share of the market in 2016. In contrast, growth of OEM segment is projected to be marginal over the forecast period.
Geographical concentration of different types of aircraft can be witnessed in the aircraft deliveries such as narrow body aircrafts, which are in high demand in the emerging regions namely, Latin America and Asia Pacific excl. Japan (APEJ). Wide body aircrafts are the popular choice of airline carriers of Western Europe and North America. The airline carriers based in the Middle East and Africa region have exploited its geographical location as a transit hub bridging the east with the west, therefore, are more focused on improving passenger count in an aircraft without compromising on luxury. Hence, large body aircrafts are ordered in large numbers in this region fulfilling this condition delivering the highest standards of luxury to its passengers. The preference for large body aircraft in this region can positively boost sales of aircraft cabin interior, which is anticipated to increase at a significant CAGR over the forecast period 2016-2026.
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Diehl Stiftung & Co. KG, Zodiac Aerospace S.A. and B/E Aerospace, Inc. with a combined market share of over 70% are the three prominent market players offering the widest product offerings for the aircraft cabin interior catering to the major aircraft manufacturers and airline operators. The major focus of these players is to improve their market share by continuous innovation of their product line up. These players make substantial investments in improving their products, with emphasis on enhancing cabin environment of the aircraft, reducing weight and in turn payload, enhancing comfort of passengers and provide structural support to the aircraft.
Long-term Outlook: The global aircraft cabin interior market is anticipated to expand at a CAGR of 3.2% in terms of value over the forecast period. Product innovation and development is the key strategy sustaining growth of the market on a long-term basis.
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