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.
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.
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Further key findings from the study 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.
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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