Aircraft Soft Goods Market for Seat cover will register robust growth during forecast timeline with increasing passengers, upgradation of seat, and armrest covers in airplanes. Requirement in executive cabins in conjunction with discretionary spending for retrofit will spur aircraft soft goods market. Curtains are at nascent stage and will witness substantial growth with cabin separation application in commercial, regional airplanes, and business airliners.
Nylon blend fabric aircraft soft goods market share will account for over 70% by 2024 owing to superior material properties including insulation, water & wrinkle resistance, and higher durability. Nylon fabrics are blended with materials such as polyester to enhance passenger comfort and elasticity cover.
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Leather materials have significant share with puncture and tear resistance; however, low wear and cost will help synthetic leather material to grow at faster pace. Polyester aircraft soft goods market will foresee healthy growth owing to chemical resistance and high durability.
OEM market will register 3% during the forecast period owing to its installation during airplane fabrication. Long term collaborations with manufacturers such as Bombardier, Boeing, and Airbus to ensure continuous product supply will escalate industry revenue from 2018 to 2024. Aftermarket aircraft soft goods market segment will register strong growth with replacement of damaged goods and airplane refurbishment activities.
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.
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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.
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.
Aerospace industry is focusing on improving its production capacity owing to high aero plane backlogs. In 2017, the production increased from 1,714 to 1,740 compared to 2016. Airplane manufacturers have backlog of around 17,000 airplanes requiring over 9 years to suffice the demand. Rising airplane production will boost aircraft soft goods market share till 2024. Rising disposable income has increased air passengers resulting in augmentation of domestic and international fleet, thereby accelerating demand for seat covers, carpets, and curtains.
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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. For instance, in 2018, Lantal introduced TEC leather having superior thermal property.