In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
In aircrafts, varied ranges of applications are controlled by actuators. Actuators are used to convert electrical signals to mechanical movements. Seat actuation system provides comfort to passenger by allowing passengers to adjust their seat according to their comfort. Aircraft seat actuation system provides comfortable seating to the passengers in private and commercial aircrafts. The seat actuation system is one of the vital components of aircraft cabins.
The aircraft seat actuation system market, in terms of value, is expected to grow rapidly during the forecasted period at a good CAGR. Increasing passenger traffic, aircraft orders and advancements in aircraft are some of the key factors that are expected to drive aircraft seat actuation system market over the forecasted period. Rising demand for light weight seats in airplanes and growing need for aircraft seats with improved strength-to-weight ratio are expected to bolster the aircraft seat actuation system market over the forecasted period.In terms of regional platform, North America holds the latest market share in aircraft seat actuation system market due to the growing technological advancements and research activities in aerospace industry. Rising demand for business jets, growing trade related activities and growth in travel & leisure activities are expected to drive the market of aircraft seat actuation system in this region.
Asia Pacific is expected to be the fast growing market for aircraft seat actuation system in terms of revenue as the developing economies in this region such as China and India are investing a considerable amount of money in aerospace industry. Expansion of aerospace industries in China & India and progress in number of joint ventures with international companies also expected to contribute in the growth of aircraft seat actuation system market. Rising disposable income among population has made the passengers to spend for their comfortable flight experience. This factor is also expected to positively influence the aircraft seat actuation system market in Asia Pacific region over the forecasted period.Middle East & Africa regions are expected to show a lucrative growth over the forecasted period due to rise in fleet size of the countries in these regions. The airlines operating in these regions are focused on enhancing passenger comfort experience and the aftermarket sales. These factors are expected to grow the aircraft seat actuation system market in this region over the forecasted period.It is expected that electro-mechanical actuator to grow with the highest CAGR over the forecasted period. Electro mechanical actuator provides high efficiency, minimum maintenance cost and low operating cost. CLICK TO DOWNLOAD SAMPLE REPORT
Our-in depth analysis of the global aircraft seat actuation system market includes the following segments:
Global aircraft seat actuation system market is further classified on the basis of region as follows:
Due to high demand for aircrafts in developing economies such as China and India are expected to bolster the demand for aircraft seat actuation system market over the forecasted period. Moreover, designing of new seats with advance technologies in order to provide better comfort to the passengers are also expected to drive the demand for aircraft seat actuation system market over the forecasted period.
Growing demand for aircraft seats with optimized strength to weight ratio is also expected to fuel the aircraft seat actuation system market over the forecasted period. Increasing demand for lighter aircrafts which facilitates in achieving high fuel efficiency also expected to stimulate the growth of aircraft seat actuation market globally. Industry vendors are stressing on offering high end features and comfortable seating capabilities to passengers also expected to bolster the growth of aircraft seat actuation system market globally.Increasing disposable income among population across the globe demands for premium air travel among the users are expected to rise the aircraft seat actuation system market over forecasted period.The rising cost for the raw materials such as genuine leather and polyester for the production of aircraft seats acts as the major restraint for the growth of the aircraft seat actuation system market.