Aircraft Cabin Interior Market worth 29.16 Billion USD by 2021
The aircraft cabin interiors market is projected to grow from USD 16.87 Billion in 2016to USD 29.16 Billion by 2021, at a CAGR of 11.57% from 2016 to 2021.
Factors such as increasing number of aircraft orders, growing regional economies, modernization of aircraft programs to reduce aircraft operational cost and increasing demand for air travel are expected to drive the global aircraft cabin interiors market.
On the basis of aircraft type, the aircraft cabin interiors market has been segmented into narrow body aircraft, wide body aircraft, very large aircraft, and regional transport aircraft. The very large aircraft segment is projected to grow at a fastest CAGR during the forecast period of 2016 to 2021, primarily driven by growing demand for single aisle aircraft across the globe.
The market for aircraft cabin interiors has been segmented based on product type into seating, IFEC, galley equipment, cabin lighting, windows & windshields, and lavatory. The seating segment dominates the studied market, and is expected to continue its dominance over the next five years, primarily driven by upgradation of aircraft programs to reduce aircraft operational costs across the globe.
The Asia-Pacific region is expected to exhibit the highest growth rate in the aircraft cabin interiors market, during the forecast period from 2016 to 2021. The region has been witnessing strong growth in the aviation industry over the past few years, mainly driven by increasing demand for new aircraft deliveries and increasing air travel in this region, which in turn is expected to propel the aircraft cabin interior market growth. This growth can also be attributed to the increasing middle class population coupled with growth in trade and tourism in emerging countries such as India and China.