Global Aircraft Cabin Interiors Market: Key Highlights
Global Aircraft Cabin Interiors Market: Key Market Dynamics
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Global Aircraft Cabin Interiors Market: Regional Overview
The US aerospace industry is the largest across the globe and contributed to around USD 374 billion of the country’s GDP in 2018. In the same year, the aerospace and defense exports of the country were USD 151 billion, which was an increase of 5.81% as compared to 2017. As per the International Air Transport Association (IATA) in 2019 the region ha improve the revenues with a strong economy and increase the growth in the industry which is projected to create large revenue then other regions
Hence, the extensive R&D spending in the aerospace & defense industry is also propel the demand for the market in the forecast period...
According to International Air Transport Association (IATA) it is projected that the net profit in 2020 will be USD 7.9 Billion in airlines industry. Owing to the rapid growth of the aerospace & defense industry in Europe, the demand for expected to increase in the forecast period. Moreover, in 2014 the US has launched Operation Atlantic Resolve (OAR) which reassure US allies in Europe, particularly those bordering Russia. Also, in 2018 North Atlantic Treaty Organization (NATO) defense minister ministers has agreed to which the Four 30s plan to enhance movement of troops in the region by 2020.
Hence, the defense industry in the region are cooperate for more innovative and technological advancement for the growth and development of the region. These may lead to increase the market adoption in the forecast period.
Global Aircraft Cabin Interiors Market: Key Players Overview
The Panasonic Corporation is global leader for the developments of diverse electronics technologies and solution of the user in the consumer electronics, housing, automotive, and B2B businesses. Whereas, company advance is an integrated solution which helps to enables the cabin crew to control the entire inflight experience, from the environment to entertainment. In 2020 Panasonic Avionics Corporation has partnered with Middle East Airlines Air Liban (MEA) to provide inflight entertainment and connectivity (IFEC) solutions known as eX1 seatback for 15 of the Airbus A321 family aircraft.
The company is global active supplier of the premium aircraft seats for the major airlines. Whereas in 2019, the company had received an order from KLM Cityhopper, KLM’s regional carrier, to outfit the 21 Embraer 195-E2 aircraft. Also, each aircraft will have a hybrid layout of Recaro BL3710 and SL3710 seats, as well as the first Embraer 195-E2 is slated for delivery in the first quarter of 2021.
Hence, in 2020 Recaro Aircraft Seating had installed its first shipset of its BL3530 seats from the SPRINT program on Air Lease Corporation’s B737 aircraft.
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