The demand for Aircraft cabin interior market is expected to increase the number of new aircraft order due to rise in air passenger traffic globally. Cabin interior market in commercial airline has developed considerably and expected to boost the aviation sector. Moreover, airline have concerned about enhancing the customer experience with increasing investing to upgrade the existing aircraft fleets.According to AMA, the market for Time Expense Software is expected to register a CAGR of 5.84% during the forecast period to 2024. This growth is primarily driven by Increase in demand for premium economy seats, Rising Demand for In –flight Entertainment system and IFEC a major source of ancillary revenue for airlines.
Globally, a noticeable market trend is evident Up gradation of existing aircraft. Major Players, such as Astronics Corporation (United States), Global Eagle Entertainment (United States), Gogo (United States), Honeywell International (United States), Panasonic Avionics (United States), Rockwell Collins, Inc. (United States), United Technologies Corporation (United States), Encore Group (United States), Haeco Americas (United States), Triumph Group (United States), Cobham plc (UK), Diehl Stiftung & Co. KG (Germany), RECARO Aircraft Seating GmbH & Co. KG (Germany), Thales Group (France), Geven Spa (Italy) and Zodiac Aerospace (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In Nov 2018, United Technologies (UTC) a multinational company which provides technology products and services to building system and aerospace acquired Rockwell Collins, Inc. for USD 30.00 Billion to form Collins Aerospace
In April 2018, Global Eagle Entertainment Inc. launched a wireless inflight entertainment in an all in one portable video on demand solution, Air connects Go that does not require installation.
According to the International Air Transport Association (IATA), the market for air passenger will reach 8.2 billion by 2037 with a prediction based on 3.5 % CAGR for the industry. The biggest driver demand will be the Asia Pacific region.
- Increase in demand for premium economy seats
- Rising Demand for In –flight Entertainment system
- IFEC a major source of ancillary revenue for airlines
- Up gradation of existing aircraft
- Lack of profitable Airlines in Emerging Economies
Influence of Low-Cost Airlines, Wifi Connectivity and New Aircraft Interior Lightning system Technology
High Cost of Installation and Delay in Aircraft Interior Lightning System Technology
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