Composite aircraft interiors market to exceed US$1.8 billion by 2023
Stratview Research (Detroit, MI, US) and PR Newswire (New York, NY, US) announced in a May release a new market research report with the unusually lengthy title, “Aircraft Cabin Interior Composites Market by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, and General Aircraft), by Application Type (Floor Panels, Sidewall Panels, Ceiling Panels, Stowage Bins, Galleys, Lavatories, Seating, Ducts, and Others), by Composite Type (Glass Fiber Composites, Carbon Fiber Composites, and Others), by Process Type (Sandwich Construction, Compression Molding, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.” The report is a study of the use of composites in aircraft cabin interiors during the trend period of 2012-2017 and a forecast based on that study for the 2018-2023 period. As its title suggests, this research report provides detailed insights on this market’s dynamics, and is intended to enable informed business decisionmaking and growth strategy formulation based on the opportunities present in the market.
According to Stratview Research, the aircraft cabin is one of the most discussed subjects in the airline industry today and should continue to be a hot topic because airlines' requirements for aesthetically pleasing, compact, and innovative cabin interiors show no sign of abating. Low-cost carriers demand aircraft that have maximum space for seating to generate more revenue per journey, but premium airlines that target high-end customers would like to offer extraordinary passenger comfort to emphasize excellence in the customer experience. All major Tier 2 players reportedly are working closely with aircraft OEMs to develop advanced lightweight interior systems. Composite materials are the perennial choice in fabricating structural parts because the materials not only offer lightweighting advantages and high strength-to-weight ratios but also deliver attractive aesthetics.
The report claims that the global aircraft cabin interior composites market is projected to grow over the next five years to reach US$1.891 billion. Organic growth of the aircraft industry is credited as the primary driver of the demand for composites in aircraft cabin interiors. A projected CAGR of 4.7% in air passenger traffic during 2017-2036 will drive the demand for commercial aircraft. This factor is expected to create a sustainable demand for composite parts for cabin interiors globally in the foreseeable future. Increasing production rates of key aircraft programs, market entry of new players, such as Commercial Aircraft Corporation of China, Ltd. (Comac, Shanghai, China) and Irkut (Moscow, Russia), introduction of variants of existing best-selling aircraft programs, and increasing demand for cabin retrofit of the large, existing aircraft fleet are likely to offer a sustainable growth platform for composites in these segments in the coming years. North America is expected to remain the largest market during the forecast period, but Asia will also experience growth, due to more assembly plants in China and the introduction of indigenous aircraft in the region.
Visit Stratview Research’s Web site (stratviewresearch.com/332/Aircraft-Cabin-Interior-Composites-Market.html) for more information about the report.
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