According to a market research report just released, the aircraft interiors market is about to grow at an incredible rate. In 2010, the global commercial interior market was valued at US$8.4bn, and according to the report from Research and Markets, entitled ‘Opportunities in Aerospace Interior Market 2011-2016: Market Size, Market Share, Trend and Forecast Analysis‘, the market is expected to grow to approximately US$12 billion by 2016 with a CAGR of 8% over the next five years.
Aircraft Industry Market Growth
Of the segments within the cabin interiors industry, the report states that the panels segment is anticipated to have the highest CAGR during the forecast period, followed by stowage bins. A major driver of the market growth is stated to be the replacement of interior components every two to five years, due to maintenance requirements. Customisation and brand positioning are also cited as market drivers for interiors investment, in addition to the ever-growing worldwide aircraft fleet.