Global Commercial Aircraft Cabin Interiors Market 2020-2024 | 9% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Jan 28, 2020--
The commercial aircraft cabin interiors market size is poised to grow at a CAGR of more than 9% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global commercial aircraft cabin interiors market 2020-2024 (Graphic: Business Wire)
The demand for air travel is likely to double over the next two decades due to the growth in air travel in countries such as China, India, Indonesia, Russia, and the US. The year-over-year increase in air traffic has also mandated the induction of new aircraft to facilitate this growing demand. Hence, airline companies are increasingly ordering new generation aircraft that are fuel-efficient and lightweight. For instance, in November 2018, IndiGo, an Indian operator, upgraded its orders for A320s and replaced them with 125 A330s. The change in order was attributed to the airline’s plans to offer distinguished services to its customers and evolve its brand image from that of an LCC into a full-fledged carrier. Thousands of pounds of composite materials like honeycomb core, thermoset prepregs, and thermoplastics are being used in new-generation aircraft to reduce the overall weight of aircraft. These materials are mostly used in ceiling and floor panels, galleys, lavatory modules, food and drink trolleys, and class dividers. Such innovations will stimulate the demand for new generation aircraft, which will drive the growth of the commercial aircraft cabin interiors market.
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As per Technavio, the emergence of 3D printing in aircraft cabin interior will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Commercial Aircraft Cabin Interiors Market: Emergence of 3D printing in Aircraft Cabin Interior
The consistent growth of the aerospace industry is compelling aerospace companies to seek innovative technologies to manage their costs efficiently and meet the demands of the aviation market. One such technology is 3D printing or additive manufacturing that can develop three-dimensional objects using computer-aided design (CAD). 3D printing allows designers and engineers to manufacture parts with intricate geometries that are lighter than components manufactured using traditional methods. Moreover, advances in laser and 3D printing machines are encouraging developers to create parts with new material combinations. This method, apart from being cost-effective, gives the added advantage of quick design and manufacturing of different components.
“Factors such as the increasing preference for collaborative efforts in aerospace industry, and growing R&D of new materials for aircraft seating will have a significant impact on the growth of the commercial aircraft cabin interiors market value during the forecast period,” says a senior analyst at Technavio.
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Commercial Aircraft Cabin Interiors Market: Segmentation Analysis
This market research report segments the commercial aircraft cabin interiors market by product (seating; lavatory module; windows, cabin panels, and stowage bins; galley; lighting), type (narrow-body aircraft, wide-body aircraft, and regional aircraft), and geography (APAC, North America, Europe, South America, and MEA).
The North American region led the market in 2019, followed by Europe, APAC, South America, and MEA respectively. However, during the forecast period, the European region is expected to register the highest incremental growth due to the growing orders for new-generation aircraft, which will parallelly generate demand for advanced cabin interior products.
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Some of the key topics covered in the report include:
Five Forces Analysis
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PUB: 01/28/2020 07:00 PM/DISC: 01/28/2020 07:01 PM