The Aircraft Soft Goods Market is set to grow from its current market value of more than $440 million to over $560 million by 2024; as reported in the latest study by Global Market Insights, Inc. With the surging yearly growth of air traffic and continual improvements in aircraft operating performance, aircraft soft goods market has seen a considerable progression over the past few years. Reportedly, the worldwide passenger demand for air travel has increased by more than 8% over 2016-2017. By the end of this year, the figure is projected to grow by another 7%. Estimates further indicates that global aviation industry is likely to peg a humongous valuation of more than USD 30 billion in terms of profit in 2018 – representing an escalation of nearly USD 25 billion from what it recorded in the year 2011. —
The aforementioned statistics clearly projects the considerable massive aircraft demand in the last half a decade, leading to more deployment of soft goods for seat covers, carpets, and curtains etc. Constant aviation refurbishment facilities and interior modifications have indeed acted as a catalyst in the expansion of aircraft soft goods market. Companies partaking in the business space have been vying with one another to bring forth a flare of novelty in their product portfolio.
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Manufacturers such as Bombardier and Boeing are adopting new materials to reduce weight and cost of products. Advent of materials such as nylon fabrics provide higher comfort as compared to traditional goods and replacement with synthetic leather will improve aircraft soft goods market share over the forecast period. In addition, ongoing refurbishment activities to upgrade old airplanes and enhance business & economy class cabin interiors will further strengthen the product adoption.
Commercial aircraft soft goods market share accounts for over 85% of total revenue owing to continuously increasing air passenger traffic. In 2018, air passengers traffic registered an increase of 6% and rose to 4.3 billion from 4.1 billion in 2017. Government bodies including International Air Transport Association (IATA) addresses passenger safety, thereby boosting industry growth. Regional jets will witness robust growth owing to proliferating number of flights and acceptance of light weighted materials.
Tapis Corporation, one of the leading players in aircraft soft goods market, has recently made its way to the front page, featuring its absolutely state of the art fabric on New Emirates 777-300ER First Class Suites. Reportedly, the company’s TapiSuede™ BHC-SS Flannel product has been chosen for these new suits, for the seat backshell. For the record, these premier suites were established by Emirates in collaboration with renowned seat manufacturer Rockwell Collions, industrial design firm Teague, airline manufacturer Boeing, and Jacques Pierre Jean. Tapis Corporation’s advanced product line coherently validates the fierce competitive scenario in aircraft soft goods industry and the ongoing developments this particular vertical is characterized by.
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North America led by the U.S. accounts for major share owing to presence of airplane manufacturers such as Bombardier and Boeing. Asia Pacific aircraft soft goods market will register sturdy growth with increasing passenger traffic and commercial airplane industry. Rising public spending in emerging nations will boost industry share over the forecast period. MEA is at nascent stage and will foresee growth with rise in business and private jets.
Aircraft soft goods market players include Aero Floor, Anker Company, Aero Foams Tapis Corporation, Aircraft Interior Products, Spectra Interiors, Aircraft Interior Sol, RAMM Aerospace, Botany Weaving Mills, Mohawk Group, Desso, Lantal Textile, Fellfab, InTech Aerospace, E-Leather, and F-list. Industry players are enhancing product landscape to increase their share.
Glimpse of Table of Content (ToC)
Chapter 5. Aircraft Soft Goods Market, By Product
5.1. Global aircraft soft goods market share by product, 2017 & 2024
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.3. Seat covers
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024
5.5. Others (Seat Fabric, Flooring)
5.5.1. Market estimates and forecast, 2013-2024
5.5.2. Market estimates and forecast, by region, 2013-2024
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