According to ESOMAR-certified Future Market Insights’ (FMI), the aircraft cabin interior market trends is expected to expand at 2.70% CAGR throughout the forecast period 2021-2031.
The market is fiercely competitive, with United Technologies Corporation, Safran S.A., Diehl Stiftung & Co. KG, HAECO Group, Honeywell International, Inc., and Panasonic Avionics Corporation holding more than 50% of the global market shares.
According to the International Civil Aviation Organisation, the introduction of low-cost carrier aircrafts into the aviation business has had a substantial detrimental impact on the market for aircraft cabin interiors. The market is expanding as a result of an expanding travel and tourism industry, rising air traffic, and more frequent flights.
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Due to an increase in new aircraft orders, the popularity of in-flight entertainment systems, and stunning lighting systems, the market demand will rise in the upcoming years. The market for aeroplane cabin interiors is anticipated to grow at a healthy rate as a result of the increased demand for individually tailored, luxurious, and comfortable cabin interiors with supportive and intelligent seating systems.
The construction of aircraft manufacturing facilities and associated businesses in emerging economies is expected to create lucrative expansion prospects in the market for aircraft interiors throughout the anticipated timeframe.
COVID-The 19 pandemic had an impact on the aviation sector because of the global lockdown and suspension of domestic and international flights. Market expansion is being hampered by increased aircraft weight, stringent safety regulations, and a dearth of profitable aviation services in new enterprises.
Key Takeaways from FMI’s Aircraft cabin interior Market Study
- Rapid production of commercial aircrafts and presence of leading market players in U.S. along with increasing foreign direct investment in aviation industry will bode well for the aircraft cabin interior market growth in U.S.
- Automotive aircraft cabin interior is expected to grow at a healthy rate in Russia owing to increasing delivery of foreign aircrafts and rising demand for maintenance, and overhauling of multiple components in such aircrafts.
- Development of narrow body aircrafts by China along with establishment of production centers in the country due to cheap labor and abundance of resources will boost the aircraft cabin interior market growth
- Growing government initiatives and rising per capita income of the people will promote adoption of air transport, thus driving the aircraft cabin interior market growth in India.
- Rapid modernization in aircraft components and interiors, retrofitting of interior cabins, and increasing demand for maintenance, overhaul and repair of aircrafts using new materials will boost the aircraft galley market growth.
- Increasing demand of commercial aircrafts, growing consumer inclination towards air travel to save time and growing trend of customized interior are further accelerate the growth of the aircraft cabin interior aftermarket distribution channel.
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“Rapid increment in air passenger traffic and high demand for new aircrafts will create novel growth opportunities for aircraft cabin interior market growth throughout the forecast period,” says the FMI analyst.
Competitive Landscape
Strict safety regulations are hindering the entrance of new market players in the aircraft component manufacturing. Long development cycle along with partnerships to leverage certain field expertise will promote the entry on new market players.
Market players are working to ensure sustainable supply chain in maintained in this constantly fluctuation aerospace industry. OEMs are collaborating with small companies that specialize in lighting system and seat manufacturing.
Key market players are working towards overcoming the delivery delays by expanding their supplier base. They are also looking towards strategic acquisition and penetrate emerging markets through new product development.
Diehl Stiftung & Co. KG developed a new airspace cabin for Airbus A320neo Family on behalf of its customer Airbus in June 2021. The new cabin offers more comfortable seating to the passengers along with largest luggage compartment.
Diehl Aviation also adopted new cabin lining and designed a novel lighting concept coupled with virtually touch free lavatories.
Prominent players operating in the aircraft cabin interior market are United Technologies Corporation, Zodiac Aerospace S.A., HAECO Group, Diehl Stiftung & Co. KG, Aviointeriors S.p.A., Geven S.p.A., Bucher Group, Panasonic Avionics Corporation, Turkish Cabin Interior Inc., SCI Cabin Interiors, Factorydesign, and Honeywell International Inc.
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