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(Publishing-NewsWire.com, November 04, 2023 ) The Global Aircraft Seat Actuation System Market is on a trajectory of robust growth, with a projected market size set to surge from USD 496 million in 2020 to an estimated USD 763 million by 2025. This growth is characterized by a Compound Annual Growth Rate (CAGR) of 9.0% during the forecast period from 2020 to 2025. The actuation system market for aircraft seats is being driven by a confluence of factors, including the growing demand for premium economy seats and the imperative for maintenance and retrofitting of existing aircraft.
The market for Aircraft Seat Actuation Systems is detailed in a comprehensive report encompassing 223 market data tables and 47 figures, spread across 238 pages. The in-depth Table of Contents provides a valuable roadmap to the market's dynamics, trends, and opportunities.
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Major players in the Aircraft Seat Actuation System Market include Astronics Corporation (US), ITT Inc. (US), Crane Co. (US), Collins Aerospace (US), and Bühler Motor GmbH (Germany). These market leaders have expanded their operations globally, serving regions like North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. Notably, the COVID-19 pandemic has had an impact on their businesses, causing a 7–10% reduction in global production and services for aircraft seat actuation systems in 2020, according to industry experts.
The growth of the market is underpinned by various drivers, notably the surge in air passenger traffic and the replacement of aging aircraft, especially in the fixed-wing aircraft segment. The electromechanical segment is projected to be the largest in terms of market value. This growth can be attributed to the versatile application of electromechanical actuation systems for both linear and rotary mechanisms.
Segments and Projections:
OEM Segment: The OEM segment is expected to exhibit the highest CAGR during the forecast period. This projection is attributed to the increased demand for customized aircraft, given that retrofitting existing aircraft can be a cumbersome process for airlines.
Rotary Wing Segment: Within the aircraft type category, the rotary wing segment, which comprises helicopters, is expected to witness the highest CAGR. Investment in the commercial helicopter sector in countries such as the US, France, Russia, and Italy, along with government budgets allocated to VIP/VVIP transport, is driving this segment's growth.
Seat Class: Both the first-class and economy-class segments are projected to experience the highest CAGR. The first class boasts luxurious and expensive seating options, while the economy class is favored by the growth of Low-Cost Carriers (LCCs), which provide cost-effective air travel.
Component: The passenger control unit segment is projected to grow at the highest CAGR. This can be attributed to the retrofitting of existing aircraft, which necessitates upgrading the passenger control units.
Regional Contribution: The North America market is expected to contribute the largest share to the Aircraft Seat Actuation System Market from 2020 to 2025. This is driven by the rapid growth of technologically advanced seating systems in the region, with several key players and major airlines headquartered in North America.
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