This new report from Stratview Research analyses the Aircraft Soft Goods Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Aircraft Soft Goods Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Aircraft Soft Goods Market is no different. Derived from the previous market scenario, the Aircraft Soft Goods Market is likely to reach US$ 837.8 million in 2024 but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
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Market Share Analysis
Aircraft Soft Goods Market Share by Aircraft Type
The global aircraft soft goods market is segmented based on the aircraft type as Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, and Helicopter. Commercial aircraft is likely to remain the growth engine of the market during the forecast period. Increasing production rates of key programs, such as B737, A320 family, B787, and A350XWB; market entry of new players, such as COMAC and Irkut; an introduction of variants of existing best-selling aircraft programs, such as B737 max, A320neo, and B777x; and an increasing demand for cabin retrofit of the large aircraft fleet are likely to offer a sustainable growth platform for soft goods in this segment in the coming years.
Aircraft Soft Goods Market Share by Product Type
Based on the product type, the aircraft soft goods market is segmented into Seats, Carpet, Curtains, and Others. Seat is likely to remain the most dominant segment of the global aircraft soft goods market over the next five years, driven by a high demand for seats for OE as well as retrofit in the commercial aircraft segment coupled with an increasing demand for comfortable, aesthetically excellent, and lightweight seat and armrest covers. Whereas, carpet, another considerable segment, is likely to witness the highest growth during the same period, driven by a large surface area of aircraft flooring.
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Aircraft Soft Goods Market Share by Material Type
Based on the material type, the aircraft soft goods market is bifurcated into Nylon Yarn, Natural Leather, Synthetic Leather, Wool/Nylon Blend Fabric, Polyester Fabric, and Others. Nylon yarn is the most widely used material in the market and is likely to maintain its dominance during the forecast period. It is considered an ideal material for producing carpets, seat covers, and curtains for aircraft interiors. Wool/nylon blend fabric, natural leather, synthetic leather, and polyester fabric are the other major materials used in the manufacturing of soft goods for the aircraft industry. They also offer sizeable growth opportunities in the coming years.
Aircraft Soft Goods Market Share by End-User Type
Based on the end-user type, the aftermarket segment is projected to maintain its dominance and is also likely to grow at a higher rate during the forecast period. Rising fleet size of commercial aircraft and an increasing demand for advanced lightweight soft goods products to the replace the old ones are the major driving forces behind the significant growth of the aftermarket segment.
Based on the regions, North America is projected to remain the largest market during the forecast period, driven by both OE as well as aftermarket segments. The USA is the growth engine of the region’s market and has the presence of almost all the major aircraft OEMs including Boeing, Airbus, Cessna, and Gulfstream. Rising commercial aircraft fleet size in the region is likely to further boost the overall demand for soft goods in the aircraft industry in the foreseeable future.
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.
The supply chain of this market comprises raw material suppliers, soft goods suppliers, distributors, OEMs, and airlines. The key soft goods companies are Anker, Botany Weaving Mill Ltd., Desso Group, E-Leather Ltd., Haeco, Lantal Textile AG, Mohawk Group, and Tapis Corporation. The key aircraft OEMs & Airlines are Boeing, Airbus, Bombardier, ATR, Embraer, COMAC, Irkut, Sukhoi, Air Canada, British Airways, and United Airlines. The regional expansion, the formation of long-term contracts, and the development of innovative soft goods are some of the major strategies adopted by major players to gain a competitive edge in the market.
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