Northbrook, IL -- (SBWIRE) -- 06/27/2021 -- The aircraft cabin interiors market is projected to grow from USD 17.6 billion in 2020 to USD 32.7 billion by 2025, at a CAGR of 13.2% from 2020 to 2025. The growth of the market can be attributed to the increasing number of new aircraft orders due to rise in air passenger traffic across the globe. Moreover, airlines are highly concerned about enhancing the customer experience and as such, are investing increasingly to upgrade the existing aircraft fleets, thereby leading to the growth of the aircraft cabin interiors market.
Aircraft Cabin Interiors Market Ecosystem
Prominent companies that provide Aircraft Cabin Interior (ACI) products, small and medium enterprises (SMEs), distributors, and end-customers (aircraft manufacturers and airline companies) are the key stakeholders in the aircraft cabin interior ecosystem. Investors and funders in the aircraft cabin interiors market, academic researchers, distributors, service providers, and airport authorities serve as major influences for the aircraft cabin interiors market.
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By type, the galley segment is projected to grow at the highest CAGR during the forecast period
Based on type, the aircraft cabin interiors market has been segmented into aircraft seating, in-flight entertainment & connectivity, cabin lighting, aircraft galley, aircraft lavatory, aircraft windows & windshields, aircraft overhead stowage bins, and aircraft interior panels. The aircraft galley segment is projected to grow at the highest CAGR from 2020 to 2025. The growth of this segment is attributed to sudden dip in market in 2020, due to travel restrictions imposed in most countries. The galley aftermarket and MRO is expected to reduce largely in 2020 and recover in next two to three years.
By aircraft type, the very large aircraft segment is projected to grow at the highest CAGR during the forecast period
Based on aircraft type, the aircraft cabin interiors market has been segmented into narrow body aircraft, wide body aircraft, very large aircraft, regional transport aircraft, and business jets. The very large aircraft segment is projected to grow at the highest CAGR from 2020 to 2025 due to the rising demand for long-haul air travel across the globe and priorities of passenger safety, reliability and experience post-COVID-19.
OEM segment is expected to lead the aircraft cabin interiors market during the forecast period
Based on end user, the aircraft cabin interiors market has been segmented into OEM, aftermarket, and MRO. The OEM segment is expected to lead the aircraft cabin interiors market during the forecast period. As the commercial aviation sector is growing significantly across the globe due to an exponential increase in air passenger traffic, the demand for new aircraft is increasing year on year. This rising demand for new aircraft is expected to drive the growth of the OEM segment of the market during the forecast period.
The North America region is expected to lead the aircraft cabin interior market from 2020 to 2025
The aircraft cabin interiors market has been studied for North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The North America region is expected to lead the aircraft cabin interiors market in 2020. The US is a major market for aircraft cabin interiors in the region due to its flourished aviation industry. Moreover, major commercial aircraft manufacturers such as Boeing (US) and Bombardier (Canada) are based in the North America region, thereby leading to increased demand for products used in aircraft cabin interiors. The North American region is expected to continue leading the market during the forecast period as well.
Key Market Players
The limited number of profitable airlines in emerging economies such as India, China, South Africa is one of the factors restraining the growth of the aircraft cabin interiors market. The major strategies undertaken by leading companies in this market include expansions & collaborations, new product launches, mergers & acquisitions, and contracts, partnerships & agreements. The competitive leadership mapping matrix compares various companies operating in the aircraft cabin interiors market. Major players in the aircraft cabin interiors market are Safran (Zodiac Aerospace) (France), United Technologies Corporation (US), Astronics Corporation (US), Cobham plc (UK), Diehl Stiftung & Co. KG (Germany), Global Eagle Entertainment (US), Gogo Inc. (US), Honeywell International Inc. (US), Panasonic Avionics Corporation (US), and RECARO Aircraft Seating GmbH & Co. KG (Germany), among others.