The research’s findings suggest that commercial aircraft is likely to remain the growth engine of the market during the forecast period. Increasing cabin upgrades of A320 and B737, introduction of next-generation aircraft including B787 and A350XWB, and market entry of new players, such as COMAC and Irkut are the major factors that are proliferating the growth of cabin upgrades in the segment.
Based on the application type, interior modification is likely to remain the most dominant segment of the global aircraft cabin upgrades market over the next five years, driven by the demand in commercial aircraft. However, avionics segment is likely to witness the highest growth in the same period, driven by advancements in technology.
In terms of region, North America is projected to remain the largest market during the forecast period, driven by large aircraft fleet size and presence of major OEM and tier players in the region. Whereas, Asia-Pacific is likely to witness the highest growth in the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, 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.
Key cabin interior upgrade companies are AAR Corp, Air France Industries, KLM Engineering & Maintenance, Boeing Global Services, Diehl Aviation Laupheim GmbH, Jet Aviation AG, Lufthansa Technik AG, SR Technics, and Singapore Technologies Engineering Ltd (ST Engineering).