The report “Aircraft Cabin Interior Market by Product (Seating, Windows & Windshield, Cabin Lighting, IFEC, Galley, & Lavatory), Aircraft Type (NBA, WBA, VLA & BGA), Fit (Line Fit & Retro Fit) & Geography – Global Forecast to 2020” was released by MarketsandMarkets.
The market is projected to reach $25.60 Billion by 2020, at a CAGR of 12.48% during the forecast period.
The aircraft cabin interior market is classified into three major segments, namely, by product, aircraft type, and fit. The product segment is further categorized into seating, windows & windshield, cabin lighting, IFEC, galley, and lavatory. On the basis of aircraft type, the market is segmented into narrow body aircraft, wide body aircraft, very large aircraft, and business general aviation. The fit type segment is further classified into line fit and retrofit.
A number of factors such as growth in regional economies, increase in demand for air travel, and modernization of aircraft programs among others drive the aircraft cabin interior market. On the other hand, factors such as high amount of investment, alternative modes of transportation, and uncertain financial environment are restricting the growth of this market. However, increase in global air traffic and influence of low-cost airline carriers provides new growth opportunities for market players.
The wide body aircraft segment is estimated to hold the highest share of 46.75% in the aircraft cabin interior market in 2015, followed by narrow body aircraft segment that is estimated to account for a market share of 39.18% in the same year.
As of 2015, North America is estimated to hold the largest share of the Aircraft Cabin Interior Market, in terms of revenue, followed by Europe. The Asia-Pacific aircraft cabin interior market is expected to grow at a CAGR of 14.54% from 2015 to 2020, owing to rise in air travel in emerging economies such as China and India over the past few years. On the other hand, the aircraft cabin interior market in Latin America, the Middle East, and Africa are smaller in comparison to other regions, but they are witnessing significant growth during the forecast period, thereby becoming worthy market prospects.