The global aircraft seat actuation system market is estimated to be valued at $1,001.3 million by 2027, surging from $519.6 million in 2019 at a noteworthy CAGR of 8.8%.
Impact Analysis of COVID-19 on the Aircraft Seat Actuation System Market
The global market for aircraft seat actuation system market is estimated to experience a decline in the growth at the time of the COVID-19 pandemic. Due to the pandemic, most of the industrial sectors have experienced a negative impact. Similarly, the aircraft seat actuation system market has also witnessed a major decline in the market. The airline industry has been one of the worst hit industries globally due to the ban on air travel, resulting in a drastic impact on all airline related industries.
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Global Aircraft Seat Actuation System Market Analysis
Increasing demand of premium seats in aircrafts post the pandemic is predicted to be the major driving factor for the global aircraft seat actuation system market in the estimated period. The demand of premium aircraft seats is predicted to rise at a higher rate. Premium economy class seats are sometimes limited to just a bit more leg room. Along with providing larger leg room, the premium class seats help in better handling of the turbulences and offer a better grip to the passenger as well as the pilot present in the aircraft. Increasing demand of premium seats with better leg space and ability of handling turbulence better is predicted to be the major driving factor for the global aircraft seat actuation system market in the estimated period.
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High cost of the aircraft seat actuation systems is predicted to hinder in the global market in the estimated period. The implementation of aircraft seat actuation systems in aircrafts requires higher investment which includes purchasing and maintenance of aircraft seat actuation systems, which is predicted to be the biggest restraint for the global aircraft seat actuation system market in the estimated period.
Global Aircraft Seat Actuation System Market, Segmentation
The global aircraft seat actuation system market is segmented based on, type, passenger seat class, aircraft type, and region.
Aircraft Type:
The aircraft type segment is further divided into linear wing and rotatory wing. The linear sub-segment is anticipated to have the maximum market share in the global market. The market is predicted to grow with a CAGR of 7.9% by generating a revenue of $601.5 million by 2027. Linear wing type has the capability to cover great distance with epitome of comfort as the seat adjustment range for the pilots is high, which delivers more comfort and is predicted to boost the sub-segment market in the estimated period.
Passenger Seat Class:
The passenger seat class sub-segment is further divided into business class, first class, premium economy class, and economy class. The premium economy class sub-segment is predicted to grow with a CAGR of 8.9% by generating a revenue of $251.0 million by 2027. Premium economy class provides the passenger as well as the pilot with better seating experience with multiple benefits of reclining, moving of chair, and others, which is predicted to boost the sub-segment market in the estimated period.
Type:
The type segment is further categorized into electromechanical and others. The electromechanical sub-segment is predicted to generate a revenue of $531.2 million by 2027 with a CAGR of 10.1% in the estimated period. Electromechanical seats are of innovative design and are more luxurious and convenient for operating which is predicted to drive the sub-segment market in the estimated period.
Region:
The aircraft seat actuation system market for the Asia-Pacific region is projected to witness rapid growth. This market generated a revenue of $116.6 million in 2019 and is further projected to reach up to $236.8 million by 2027. Majority of companies are focusing more on shifting the workplace and operational work to Asia-Pacific region and this is predicted to drive the market. Low labor cost, high skilled labor, and various government initiatives are predicted to boost the regional market in the estimated period.
Key Players in the Global Aircraft Seat Actuation System Market
- Moog Inc.
- Astronics Corporation
- Crane Aerospace & Electronics
- ITT Inc.
- Collins Aerospace (United Technologies Corporation)
- NOOK Industries Inc.
- Rollon SpA
- Bühler Motor GmbH
- Kyntronics
- AIRWORK PNEUMATIC EQUIPMENT
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
Porter’s Five Forces Analysis for the Global Aircraft Seat Actuation System Market:
Bargaining Power of Suppliers: The suppliers in the aircraft seat actuation system market are less in number. As the buyers are high in number, the demand for suppliers increases.Thus, the bargaining power suppliers is moderate.
Bargaining Power of Buyers: The demand of buyers is high compared to the suppliers is high in the market. The bargaining power of buyers is moderate.
Threat of New Entrants: For developing a new product or manufacturing unit for the seat actuators a huge investment is required. Thus, the threat of the new entrants is low.
Threat of Substitutes: There are less number of alternative products such as pneumatic actuator, hydraulic cylinder which are considered as major threat for aircraft seat actuation system market. Thus, the threat of substitutes is low.
Competitive Rivalry in the Market: Due to the presence of lesser number of manufacturers there is a less competitive rivalry among the suppliers and manufacturers.Therefore, competitive rivalry in the market is low.
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