The global aircraft cabin interior market size is expected to expand at a compound annual growth rate (CAGR) of 7.6 per cent in the next seven years.
The market size valued at $21.72 billion in 2021 accommodates Nigerian carriers, which utilise all aircraft: narrow body, medium range and wide body aircraft.
With aircraft manufacturers advancing the technology of aircraft cabin interiors to improve passengers’travel experience, more Nigerian carriers – Green Africa Airways, Value Jets Airlines, new entrant – Rano Air, United Nigeria Airlines, Air Peace, Arik Air, AeroContractors, Ibom Air, and others – are joggling their choice of equipment to meet market demands.
Experts attribute the growth in the aircraft cabin interior value chain to market growth triggered by the rising popularity of air travel and new airports springing up in new domains.
Experts said the alloy segment, which accounted for the largest revenue share in 2021, is likely to dominate in the forecast period.
The other segment is projected to grow at a significant CAGR of 11.2 per cent from 2023 to 2030.
Transition to lightweight and sustainable materials for cabin interiors, experts said, would not only minimise the weight of aircraft for better fuel efficiency, but also reduce operational costs as part of the triggers to drive to create demand.
Experts said the entertainment and connectivity segment, which accounted for the largest revenue share of 25 per cent in 2021, is predicted to lead the market over the forecast period of 2023 to 2030.
Experts projected that a rise in penetration of entertainment and connectivity segment, which provides better passenger experience to meet consumer demand is expected to drive the growth.
The galley segment is expected to witness a CAGR of 12.3 per cent. This is due to the need to provide passengers for food and beverage deliveries.
The launch of various services for food and drinks as service for airplane passengers creates demand and is expected to drive the galley segment during the forecast period.
The narrow body aircraft segment, which accounted for the largest revenue share in 2021 and is predicted to lead the market over the forecast period.
The narrow body aircraft, industry data indicates, will be among the most demanded aircraft types.
The reason for a dominant share of narrow body aircraft, experts said, is the increase in domestic air traffic across the globe.
In Nigeria, more carriers are opting for narrow body jets, including Embraer, Bombardier CRJ, DASH 8 Q400s and other aircraft types.
The convenience provided by air travel along with affordable prices as a result of increasing market competition by domestic airlines is expected to grow the narrow body aircraft demand.
The wide body aircraft segment, experts say is expected to witness significant growth in the forecast period.
The advancement in aircraft interiors, which is providing better passenger experiences, experts say has created demand for cabin interiors.
During the onset of the COVID-19 pandemic, the aircraft manufacturing industry faced challenges in keep up with the production rate, all of which impacted the aircraft cabin interior market negatively.
But, the trend is turning new curves post-COVID-19 pandemic, as the market is being revived along with passengers flocking to travel as aircraft manufacturing sector is catching pace to keep up with the backlog of deliveries.
The rise in deliveries of aircraft over the forecast period is expected to drive the demand for aircraft cabin interiors.
The commercial market outlook published by aircraft manufacturer – Boeing approximates that 50 percent of the existing fleet is to be replaced in the next 20 years, demand for the cabin interior market for the upcoming deliveries and upgrading is expected to increase, thereby, driving the growth of the overall industry.