Report ID: SQMIG20A2216
Report ID:
SQMIG20A2216 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|
Tables:
65 |
Figures:
75
In 2023 North America accounted for the largest aircraft seating market share globally. With an established air travel infrastructure, along with high volume of domestic and international flights in the region leads to demand for growing number of new and retrofit passenger seats. Additionally, many of the larger regional airlines are embarking on fleet renewal programs that also involve adopting new seats in line with newer industry requirements for improved safety and comfort. The U.S. aircraft seating market is expected to be a major contributor since the country one of largest and mature aviation market within the global landscape supported through high level of air travel, allowing the need for frequent upgrade on overall aircraft seating.
Asia Pacific will continue to emerge as one of the fastest growing regions in terms of air passenger traffic due to a burgeoning middle class, increasing disposable incomes, and a preference for air travel rather than other modes of transportation. Due to increasing domestic and international flights from countries such as China, India, and Southeast Asian countries airline fleets need ships due to which the market is growing rapidly. Demand growth in India is anticipated to rank the highest, supported by continued urbanization and growing business hubs throughout the country fueling air travel growth. Apart from that, increasing disposable income and rising middle-class populace in the country is further providing lucrative growth opportunities to the market.
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Report ID: SQMIG20A2216