Stratview Research has published a new report titled “Aircraft Cabin Upgrades Market” which is segmented by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, and Military Aircraft), by Application Type (Interior Modifications, Cabin Connectivity, Painting, Airworthiness Directives, and Avionics), by End-User Type (Passenger Airlines, Freighter Companies, Leasing Companies, Corporate Jets, and VIP’s & Military Derivatives), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market is projected to grow at a healthy rate over the next five years to reach US$ 8,926.2 million in 2023. There are several factors collectively driving the demand for cabin upgrades in the aircraft industry.
The prospects of the aircraft cabin upgrades market seem attractive and offer favorable growth opportunities for the market stakeholders in the foreseen future.
The introduction of advanced aircraft is the biggest growth driver of the aircraft cabin upgrades market. The latest fuel-efficient variants, such as A320neo, B777x, and B737 Max, have an exceptional interior with excellent use of space to squeeze the number of seats. This is compelling airlines and leasing companies to upgrade their existing aircraft fleet to provide a uniform feel and to maintain the brand image across their fleet.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Aircraft Type
The global aircraft cabin upgrades market is segmented based on the aircraft type as Commercial Aircraft, Regional Aircraft, General Aviation, and Military Aircraft. Commercial aircraft are likely to remain the growth engine of the market during the forecast period. Increasing cabin upgrades of A320 and B737, introduction of next-generation aircraft including B787 and A350XWB, and market entry of new players, such as COMAC and Irkut are the major factors that are proliferating the growth of cabin upgrades in the market.
Among commercial aircraft types, narrow-body aircraft is likely to generate a healthy demand for cabin upgrades in the foreseeable future as airlines and leasing companies are increasingly upgrading aircraft interiors as per the latest A320neo and B737 max cabins to provide the uniform feel and to maintain the brand image across the aircraft fleet. Also, some companies are converting passenger aircraft to freight aircraft. This further substantiates the demand for cabin upgrades.
Wide-body aircraft is likely to remain the largest demand generator of cabin upgrades in the same period, driven by the introduction of next-generation aircraft, such as B787 and 350XWB, and upcoming fuel-efficient variants, such as A330neo and B777x. The most expected upgrade of A330 and B777 to provide a similar feel as that of upcoming variants of A330neo and B777x and high demand for cabin system upgrades including connectivity will drive the segment’s growth in the coming five years.
By Application Type
Based on the application type, interior modification is likely to remain the most dominant segment of the global aircraft cabin upgrades market during the next five years, driven by commercial aircraft. Airlines and leasing companies are increasingly opting for cabin interior modifications of their existing aircraft fleet of A320, B737, A330, and B777 to provide a similar feel to fuel-efficient variants of A320neo, B737 max, A330neo, and B777x, respectively, to the customers. Also, a shift from first-class to business class and the introduction of premium economy class are further elevating the demand for cabin interior modifications. The Avionics segment is likely to witness the highest growth in the same period, driven by advancements in technology.
Which Region is expected to remain the largest market?
North America is projected to remain the largest market during the forecast period, driven by large aircraft fleet size and the presence of major OEM and tier players in the region. The USA is the growth engine of the region’s market, owing to its early adoption of new technologies; the presence of major aircraft OEMs including Boeing, Airbus, Cessna, and Gulfstream; and its aging commercial aircraft fleet.
Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus in China, upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ), and rising aircraft fleet size.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, enabling strategic decision-making for the existing market players and those willing to enter the market. The following are the key players acting in the Aircraft Cabin Upgrades Market:
- AAR Corp
- Air France Industries and KLM Engineering & Maintenance
- Boeing Global Services
- Diehl Aviation Laupheim GmbH
- Jet Aviation AG
- Lufthansa Technik AG
- SR Technics
- Singapore Technologies Engineering Ltd (ST Engineering).
Key questions answered by the report.
- What is the projected CAGR for revenue from the Aircraft Cabin Upgrades Market during the forecast period?
- What would the market be valued at by 2023?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Aircraft Cabin Upgrades Market?
- Which are the major market players?
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