Aviation seating segment to grow with highest growth rate to China
Aviation is a fast growing industry which is preparing for higher growth rates with every passing financial year. It is a sector linked with multiple sub-sectors that either helps in enhancing or declining this growth. Aircraft seating segment is one such element that plays a vital role in deciding the total cost of the flying machine. These seats in the ancient aircrafts had armchairs, which were loosely held in the cabin area, however; the present seating arrangements in the highly developed aircrafts are used beyond the accommodation purpose.
The aircraft seats today are designed for multiple functions but providing a comfortable seating experience to the traveler stays as the top priority. These seats include a seatbelt and the “fasten seatbelt” sign which goes on when the travelers are expected to fasten their seat belts during the taxing, takeoff and landing activities. The diagram of seating arrangement of any aircraft is known as the “aircraft seating map”.
The sector had a slowdown due to the global economic crash that happened in the years 2007-2008, thus the subsidiary industries also found fewer orders bringing in a down sludge, reducing the profit levels. However, after the financial stability returning to normality, the orders started picking and now the industry on a whole is up and running at its usual speed.
The global commercial aircraft seating industry is expected to achieve a CAGR growth of 5.27% and hit a profit number of $4.86 bn by the end of 2017. There is a tactical increase in demand for narrow body aircrafts so as to add on as many passengers as possible. This modification in the industry is made to manage the badly hurting high-end fuel prices, airline companies want to carry maximum number of flyers per flight in order to manage the overall cost.
The change in aircraft body-building has automated a gain in orders for different seating arrangements, thus; the segment is expected to enjoy a growth rate of 5.27% for the years 2012-2017. On a country basis; Chinese market is predicted to witness the largest profit margins.
The LLC’s (Low Cost Carriers) have increased in numbers, most of the airline companies have jumped into this segment of carrying passengers to short distance destination in the smaller aircrafts. This style of flying is much cheaper for the flyer as they are cost efficient and for the company as it may plan many trips per day.
These narrow build aircrafts have a major share of 63% of the total global aviation aircraft fleet. They especially require light weighted seats which are configured in a narrow, slim pattern. Therefore, there enormous capital flushed into the research and development (R&D) activities and aircraft and airline companies are interested in inventing lesser space consuming seats.
The aviation seat manufacturing companies can rejoice as they have orders from LLC’s and the robust carriers as well like the AIRBUS series. The structure and design for these seats are very different from the slimmer ones and thus logically much expensive compared to the low cost carriers.
The aviation seating arrangement industry was estimated a worth of $3.78 bn by the close of 2012 and due to the rapid changes and developments it is expected to touch the mark of almost $5 bn by the end of 2017 spilling good news for the overall aviation industry.