Commercial Aircraft Cabin Interior Market
The global commercial aircraft cabin interior market was valued at USD 16.84 billion in 2016 and is projected to register a CAGR of 12%, during 2017-2022 (the forecast period).
The major market drivers include the worldwide emphasis on travelers’ comfort and increasing air passengers. Demand would depend on passenger travel to a large extent; increment in traveler numbers would further increase the demand for commercial aircraft and cabin seats. Innovations in the form of modular cabins and windows doubling up as a touchscreen, to project information about the flight, are also coming up. Inflight entertainment systems are expected to see the highest growth rate, as the highly competitive airline industry would require existing aircraft to be retrofitted with improved passenger facilities. North America controls a majority of the commercial jet business. Asia-Pacific, led by India and China, is expected to be a fast-growing region in the cabin interior segment, until 2022.
The global jet market is witnessing a high demand growth, however, sales of commercial jets that represent the biggest chunk of the market are limited, due to the supply crunch. Airbus generated a backlog of 6,787 aircraft, which represents almost 10 years’ worth of production. Even Boeing, which has fallen behind Airbus regarding orders bagged, has accumulated a backlog of more than 4,000 planes, of which 75% are the upcoming 737 MAX airplanes. This factor is expected to limit the growth of the cabin interior market, as the number of new airplanes entering the market is expected to accelerate at a slow rate, during 2017-2022 (the forecast period). Thus, the seats for the economy class segment are anticipated to witness higher sales and growth, during 2016-2022 (the forecast period). Complexity in retrofitting the aircraft interiors is expected to be a restraint for the market.
Global Commercial Aircraft Cabin Interior Market Revenue, 2016-2022 (In USD billion)
Source: Mordor Intelligence Analysis
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