Aircraft Seat Actuation Systems Market to Reach $656.9 Million by 2024: Grand View Research, Inc.
SAN FRANCISCO, June 5, 2018 /PRNewswire/ --
The global aircraft seat actuation systems market size is expected to reach USD 656.9 million by 2024, according to a new study by Grand View Research, Inc., registering a CAGR of 14.1% during the forecast period. The market is anticipated to witness significant growth owing to rising demand for lightweight seats in airplanes. In addition, increasing need for aircraft seats with optimized strength-to-weight ratio is expected to promote market growth.
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Market players are using lighter materials to decrease overall weight of airplanes. The weight of an aircraft impacts its fuel efficiency, which is known to contribute to more than one-third of fleet operating costs.
The industry is anticipated to gain substantially owing to rise in demand for developing lighter and More Electric Aircraft (MEA). Lighter aircraft facilitate in achieving high fuel efficiency and subsequently help in minimizing operational costs. In addition, rise in disposable income among general public across the globe is contributing significantly in propelling demand for premium air travel. The market foresees several growth opportunities in the Asia Pacific and Latin America regions owing to presence of several emerging economies such as India, China, South Korea, and Brazil.
Browse full research report with TOC on "Aircraft Seat Actuation Systems Market Size, Share & Trends Analysis By Passenger Class (Economy, Economy Plus, Business, First Class) By Mechanism (Linear, Rotary), By Actuator Type, By Region, And Segment Forecasts, 2018 - 2024" at: https://www.grandviewresearch.com/industry-analysis/aircraft-seat-actuation-systems-market
Further Key Findings From the Report Suggest:
- By passenger class, economy plus is expected to be a key segment, exhibiting the highest CAGR of 15.2% over the forecast period. This can primarily be attributed to growing need for cost-efficient and economical travel fares
- On the basis of mechanism, the linear segment accounted for 71.7% of the global revenue in 2015. Benefits of outboard flap control offered by linear actuator seating systems, especially in business jets, are predicted to fuel demand for linear systems
- By actuator type, the electro-mechanical segment is anticipated to report the fastest growth, registering a CAGR of 14.3% over the forecast period. This can be attributed to benefits such as reduced component count, integrated design, and extended reliability of these actuators
- The European regional market accounted for 34.7% of the global revenue in 2015, owing to rise in disposable consumer incomes among European nations
- The North America market is projected to expand at a CAGR of 14.2% from 2016 to 2024, owing to growing demand for business jets, rising trade-related activities, and growth in travel and leisure activities
- Key industry participants include B/E Aerospace, Inc. (U.S.); Buhler Motor GmbH (Germany); C & M Electric Actuators; Crane Aerospace & Electronics (Taiwan), Inc. (U.S.); ITT Corporation (U.S.); and Zodiac Aerospace Group (France). Industry vendors are emphasizing on offering high-end features and comfortable seating capabilities to offer convenience to users.
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Grand View Research has segmented the global aircraft seat actuation systems market report on the basis of passenger class, mechanism, actuator type, and region:
- Aircraft Seat Actuation Systems Passenger Class Outlook (Revenue, USD Million, 2014 - 2024)
- Economy
- Economy plus
- Business
- First class
- Aircraft Seat Actuation Systems Mechanism Outlook (Revenue, USD Million, 2014 - 2024)
- Linear
- Rotary
- Aircraft Seat Actuation Systems Actuator Type Outlook (Revenue, USD Million, 2014 - 2024)
- Electro-mechanical
- Others
- Aircraft Seat Actuation Systems Regional Outlook (Revenue, USD Million, 2014 - 2024)
- North America
- Europe
- Asia Pacific
- ROW
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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