Global Aircraft Seat Actuation System Market Expected to Surpass $1,187.7 Million and Grow at 8.6% CAGR in the 2022-2031 Timeframe [280-Pages] | Commended by Research Dive
The global aircraft seat actuation system market is expected to grow by 2031 due to increasing demand for high-tech seats. Economy class sub-segment is expected to be the most dominant. Market in the Asia-Pacific region to be highly lucrative.
NEW YORK, March 3, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Aircraft Seat Actuation System Market by Aircraft Type (Linear wing and Rotary wing), Passenger Seat Class (Business Class, First Class, Premium Economy Class, and Economy Class), Type (Electromechanical and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2031".
According to the report, the global aircraft seat actuation system market is predicted to register a revenue of $1,187.7 million by 2031, growing at a healthy CAGR of 8.6% during the forecast period 2022-2031.
Dynamics of the Market
Drivers: An increase in demand for high-tech seats due to evolution of seat technology in the last few years is predicted to boost the aircraft seat actuation system market in the forecast period. Additionally, growth in demand for luxury seats with seat actuators is expected to drive the market forward.
Opportunities: Technological advancements in the field of urban air mobility is predicted to offer numerous growth opportunities to the market in the forecast period. Along with this, increasing demand for high-tech and luxury seats in aircrafts is expected to propel the market forward.
Restraints: According to market analysts, the cost of aircraft seat actuation systems, however, may become a challenge in the growth trajectory of the aircraft seat actuation system market.
Covid-19 Impact on the Market
Since the outbreak of Covid-19 pandemic, strict lockdowns and travel restrictions were put in place by various governments across the world. This negatively impacted several industries and businesses causing disruptions in supply chains and manufacturing processes. The aircraft seat actuation system market faced a similar situation wherein there was a massive decline in manufacturing or advanced aircraft seats. Along with this, due to the travel bans, the aviation industry, including the aircraft seat actuation system market faced a huge slump in demand. Both these factors heavily impacted the market in a negative way.
Segments of the Market
The report has fragmented the aircraft seat actuation system market into a few segments based on aircraft type, passenger seat class, type, and regional analysis.
- By aircraft type, linear wing sub-segment of the aircraft seat actuation system market is anticipated to have a dominating market share by 2031. The decent level of comfort and the capacity to handle larger cargo is predicted to boost the growth of this sub-segment in the forecast period.
- By passenger seat class, the economy class sub-segment is predicted to garner the highest revenue by 2031. The comfort and reasonable pricing of economy class is anticipated to push the growth rate of this sub-segment higher.
- By type, the electromechanical sub-segment is anticipated to have fastest growth rate by 2031. Increasing adoption of electromechanical technology to reduce vibration from mechanical machine assemblies is projected to augment the growth rate of this sub-segment in the forecast period.
- By regional analysis, the global market in the Asia Pacific region is estimated to be the fastest growing in the forecast period. Growing pace of urbanization and rising demand for air travel from major countries of this region is estimated to help the market grow substantially.
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Prominent Market Players
Some prominent aircraft seat actuation system market players are
- Moog Inc.
- Rollon SpA
- Astronics Corporation
- Kyntronics
- NOOK Industries Inc.
- Bühler Motor GmbH
- Crane Aerospace (United Technologies Corporation)
- Airwork Pneumatic Equipment
These players are building several strategies like product development and enhancement, merger and acquisition, partnerships and collaborations to assist the market growth.
For example, in March 2022, Unum Aircraft Seating, a leading business class seating manufacturer, announced a partnership with three aircraft designing and manufacturing companies, viz., Sabeti Wain Aerospace, Bühler Motor Aviation, and SCHROTH Safety Products. These three collaborations are expected to help all the stakeholders, especially Unum Aircraft Seating to substantially increase its market revenue in the coming period.
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The report also sums up various crucial facets including financial performance of the global market players, SWOT analysis, product portfolio, and the latest strategic developments.
More about Aircraft Seat Actuation System Market:
- 3 Different Ways of Powering Aircraft Seat Actuation Systems and Latest Trends
- What are Aircraft Seat Actuation Systems and How Do They Work?
- Global Aircraft Seat Actuation System Market to Experience Marvellous Growth Due to Growing Developments by Market Players
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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