Global Automotive Electric Power Steering Systems Market - Analysis of Growth, Trends, and Forecasts (2018 - 2023)

Market Dynamics:

The major market drivers include the worldwide emphasis on travelers’ comfort and increasing air passengers. Demand would depend on passenger travel to a large extent; increment in traveler numbers would further increase the demand for commercial aircraft and cabin seats. Innovations in the form of modular cabins and windows doubling up as a touchscreen, to project information about the flight, are also coming up. Inflight entertainment systems are expected to see the highest growth rate, as the highly competitive airline industry would require existing aircraft to be retrofitted with improved passenger facilities. North America controls a majority of the commercial jet business. Asia-Pacific, led by India and China, is expected to be a fast-growing region in the cabin interior segment, until 2023.

The global jet market is witnessing a high demand growth, however, sales of commercial jets that represent the biggest chunk of the market are limited, due to the supply crunch. Airbus generated a backlog of 6,787 aircraft, which represents almost 10 years’ worth of production. Even Boeing, which has fallen behind Airbus regarding orders bagged, has accumulated a backlog of more than 4,000 planes, of which 75% are the upcoming 737 MAX airplanes. This factor is expected to limit the growth of the cabin interior market, as the number of new airplanes entering the market is expected to accelerate at a slow rate, during 2018-2023 (the forecast period). Thus, the seats for the economy class segment are anticipated to witness higher sales and growth, during 2018-2023 (the forecast period). Complexity in retrofitting the aircraft interiors is expected to be a restraint for the market.

Market Segmentation:

Product Type:

• seats


• passenger instrument cluster


• inflight entertainment systems


• cabin lighting


• others

Class Type:

• First Class


• Business Class


• Economy and Premium Economy Class

Fit Type:

• Line Fit


• Retro Fit

Geography:

• North America (United States, Canada, Mexico, and others)


• Europe (Germany, United Kingdom, France, Spain, Russia, Italy, and others)


• Asia-Pacific (China, Japan, India, Australia, and others)


• South America (Brazil, Argentina, and others)


• The Middle East & Africa (Dubai, Saudi Arabia, Egypt, South Africa, and others)

Key developments

• Rockwell Collins planned to integrate B/E aerospace’s business segment with a low-risk plan.


• Safran offered to acquire, cabin interior and seat manufacturer, Zodiac Aerospace at a reduced price per share worth USD 28.

KEY PLAYERS

UTC AEROSPACE SYSTEMS, HONEYWELL, ST AEROSPACE, ZODIAC AEROSPACE amongst others.

Reasons to Purchase this Report:

• Current and future global commercial aircraft cabin interior market outlook in the developed and emerging markets


• Analyzing various perspectives of the market with the help of Porter’s five forces analysis


• The segment that is expected to dominate the market


• Regions that are expected to witness fastest growth during the forecast period


• Identify the latest developments, market shares and strategies employed by the major market players.


• 3 months analyst support along with the Market Estimate sheet (in excel).

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