Aircraft Interiors Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028

Market Highlights

The long-term forecast appears favorable with ample growth opportunities, the Aircraft Interiors Market is anticipated to grow at a staggering CAGR of over 11.5% during the forecast period to reach a value of US$ 20.2 billion in 2028.

Aircraft interiors are one of the most-talked subjects in the aerospace industry. Several advancements aiming at enhancing passenger experience, weight reduction, hygiene, safety, and design, led this market into the limelight. Interiors include several applications, such as seats, galley/galley inserts, lavatories, stowages, and IFEC. Several airlines are focused on enhancing the customer experience and investing in upgrading their current aircraft fleets, which will boost the market for aircraft interiors in the coming years. The market for aircraft interiors is anticipated to grow significantly during the forecast period as a result of the sharp recovery shortly supported by the rise in air passenger traffic.

Aircraft interior manufacturers are constantly working to create new technologies that will benefit both, airlines and passengers, and improve the onboarding experience. New growth opportunities will be created by the rising demand for aircraft refurbishments and space optimization. Upsurge in demand for cutting-edge aircraft interior systems, such as comfortable lightweight components to conserve fuel, wireless inflight entertainment, and connectivity, advanced products that will promote hygiene and a safe environment, large and spacious bins, and LED cabin lights, would create plenty of growth opportunities for market participants throughout the forecast period. In recent years, the demand for in-flight entertainment systems has grown since they act as an additional source of revenue for airlines.

Covid-19 Impact

The coronavirus pandemic had a substantial effect on the aircraft interiors market. In 2020, the market for aircraft interiors nose-dived at a colossal decline of more than -40% YoY, kicking the market to almost a decade-back figure. Interior suppliers were encountering several unprecedented challenges including addressing the demanding standards related to health, safety, and social values. Managing liquidity at the time of crisis was the paramount importance for all the companies. The industry was expecting the commencement of recovery in the market from 2021 onwards; however, due to the financial crisis, several airlines have either postponed or canceled their plans to refurbish aircraft interiors. This along with the suspension of B787 aircraft deliveries has further dented the market in the year 2021. The year 2022 was projected to be a glorious year with a rebound from the loss in the previous years. In 2022, the market for aircraft interiors witnessed a growth of over 19% YoY.

Market Segments’ Analysis

The market is bifurcated into narrow-body aircraft, wide-body aircraft, regional aircraft, and business jets. Narrow-body aircraft remain the biggest demand generator for interiors in the foreseen future. In the upcoming years, huge growth is likely to be supported by rising production rates of key programs like the B737, A320 family, B787, and A350XWB; new players entering the market, such as COMAC; upcoming variants of current best-selling aircraft programs like the B777x; and rising demand for cabin retrofit of large aircraft fleet.

The market is segmented as seats, galley/galley inserts, lavatories, stowages, IFEC, floor panels, cabin lining, and others. IFEC is expected to be the dominant as well as the fastest-growing application type in the market in the years to come. The COVID-19 pandemic has had a huge impact on the overall aircraft interiors market; however, their impacts varied from application to application. Before the pandemic, seats used to be the most dominating application in the market, which got surpassed by the IFEC during the pandemic. IFEC acts as a secondary source of revenue generation. Airlines generate revenue from a variety of sources, including onboard shopping, Wi-Fi, and advertising. The main factors fueling the market growth are the shifting passenger demand for unlimited connectivity while traveling and the rise in long-distance flights.

The market is segmented as OE and aftermarket. OE is expected to be the dominant segment during the forecast period, due to expected recovery in the production rates of important programs like the B737 and A320 family, new players entering the market, such as COMAC, and upcoming aircraft programs. The aftermarket segment is expected to be the faster-growing segment shortly, due to the growing fleet size of commercial aircraft and the rising demand for advanced lightweight interiors, which prompts the replacement of outdated interiors with advanced lightweight interiors.

North America is expected to remain the largest market for aircraft interiors over the forecast period. The United States is the manufacturing hub for aircraft interiors. Aerospace giants including Boeing and Airbus have their presence in the region. Asia-Pacific is expected to be the fastest-growing region in the coming years. The increasing demand for commercial aircraft from many developing economies, including China and India is predicted to contribute to the growth in the Asia-Pacific region. Additionally, the opening of assembly plants in the region is stirring the demand in the region.

The supply chain of this market consists of raw material suppliers, interior product manufacturers, aircraft OEMs, airlines, aircraft leasing companies, and MRO companies. Major players in the market are focusing on technological advancements to address the growing demand for aircraft interiors.

The following are some of the key players in the aircraft interiors market:

• Safran S.A.
• Collins Aerospace
• Panasonic Avionics Corporation
• AVIC Cabin Systems Limited
• Gogo Inc.
• Intelsat S.A.
• Thales Group
• Recaro Aircraft Seating GmbH & Co. KG
• Diehl Stiftung & Co. KG
• Jamco Corporation

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Research Methodology

This strategic assessment report provides a comprehensive analysis that reflects today’s aircraft interiors market realities and future market possibilities for the forecast period of 2023 to 2028. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants and investors in identifying the low-hanging fruits available in the market and formulating the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with the analyst's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. The analyst conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.