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Narrowbody Linefit and Widebody Retrofit Programmes Drive Marginal Growth
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The commercial aircraft cabin interiors market is headed for new cabin designs that improve passenger experience and functionality. The study covers the global market and provides an 11-year forecast for the 2019–2030 time period. The total commercial cabin interiors market generated $13.23 billion in 2019. The market is expected to grow at a CAGR of 0.9% and reach $14.60 billion by 2030. The research covers commercial aircrafts cabin interiors market for cabin components, galley, lavatory, and seating. The aircraft cabin interiors forecast is based on new aircraft production of narrow-body, wide-body, and regional jets. The cabin interiors supply chain has been transforming in terms of features, functions, and equipment, with suppliers investing between 5% and 10% of their revenues in R&D, to bring innovative solutions that enhance the passenger experience. An estimated 25,500 aircraft are to be delivered in the 2020 to 2030 time period. With airlines shortening cabin retrofit cycles, the market is set to offer growth opportunities in both linefit (mainly narrowbody aircraft) and retrofit (mainly widebody aircraft) segments. With a backlog of more than 10,000 aircraft, the strategic focus of industry OEMs and the industry value chain is to ramp up production. This puts pressure on the aerospace supply chain to meet tight shipset delivery deadlines; this, in turn, has incentivized cabin interior suppliers to invest in their manufacturing facilities and seek mergers and acquisitions, to tap into larger financial resources. Major aircraft OEMs, such as Boeing and Airbus, are focused on enhancing their aircraft cabin interior capabilities by acquiring companies that will enhance their in-house capability for cabin interior products and drive major R&D as per the business requirement. With Chinese companies following suit, the market share of Chinese suppliers will increase due to the high domestic demand for commercial aircraft. Russian suppliers will also witness an increase in demand, largely due to growth in domestic programs. Cabin interior OEMs, cabin component suppliers, system integrators, aftermarket suppliers, potential investors, strategy growth managers, research & educational institutes, consulting firm, resellers, and distributors, technology partners will be the key professionals benefitting from this report.
Key Issues Addressed
Author: Waseem Ahmed Khan
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