Market Trends of Middle East and Africa Aircraft Seating Industry
This section covers the major market trends shaping the MEA Aircraft Seating Market according to our research experts:
The Narrow-body Aircraft Segment Held the Highest Market Share
Currently, the narrow-body aircraft segment has the highest share. It is anticipated to register the highest growth rates during the forecast period. This growth is due to the increasing demand for narrow-body aircraft from major LCC and FSC airlines, like Qatar Airways and Air Arabia. As a part of the global expansion plan, Air Arabia placed an order worth USD 14 billion for 120 A320 aircraft. This order included the procurement of 70 A320neo, 50 A321XLR, and A321neo aircraft. The new aircraft are scheduled to be delivered in 2024, and they may be used for the expansion of the airline's network to new destinations in the future. Also, the airline, in collaboration with Etihad Airlines, announced its plans to launch a joint venture company (a low-cost carrier) to tap into the growing demand for budget travel in the United Arab Emirates. Also, Qatar Airlines has about 50 narrow-body aircraft on order, which are planned to begin during the forecast period. The increasing orders of new narrow-body aircraft are anticipated to generate demand for new narrow-body seats during the forecast period.
The United Arab Emirates is Expected to Dominate the Market During the Forecast Period
Currently, the United Arab Emirates is dominating the market, and it is expected to continue its dominance during the forecast period as well. The increase in the demand for aircraft seating is attributed to the increase in the procurement of new aircraft, owing to the surging air passenger traffic. The need for the introduction of soft and comfortable seating for all the classes in an aircraft is making the airlines in the region replace their existing seats with new seats. For instance, Recaro Holding GmbH was opted by Middle East Airlines for its cabin seats. The full cabin of the A321neo fleet is to be equipped with new seats offered by Recaro - CL5710 electrical business class seats and CL3710 economy class seats. Moreover, the expansion of new aircraft seat manufacturers into the retrofit segment is anticipated to propel the country's growth in the coming years.
