#COVID-19 Impact on Aircraft Seat Actuation System Market Price

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What Impacted COVID-19 on Aircraft Seat Actuation System Market ?

Impact of COVID-19 on Aircraft Seat Actuation System Market in Automotive Industry

The COVID-19 pandemic has influenced the whole planet with its major impacts on the economy and businesses across the globe. The COVID-19 spread worldwide in unprecedented ways due to its high infectious and contagious nature and lack of availability of its vaccine. As a result, the greatest medical challenge in the 21st century is yet to be faced by physicians worldwide. Though the emergence of the virus can be traced back to Asia, many European countries along with the U.S. have been struck massively by the pandemic. The virus has spread across all regions ranging from North America, Europe, Asia-Pacific, Middle East, and Africa up to South America. The COVID-19 has been declared as a pandemic by World Health Organization (WHO) due to its increased spread across the globe. After the declaration of the pandemic, various countries announced the complete lockdown such as India, China, and other Asian countries to decrease its spread. According to the situation report of 7th June, 2021 by WHO stated 174 million cases of the corona have been reported globally and 3.7 million patients are dead due to the coronavirus. On a slightly positive note, a total of 157 million people have recovered and total of 1.9 million vaccine doses have been administered as well.

Actuators convert electrical signals to mechanical movements.  Seat actuation system in aircrafts enables passengers to adjust their seating position as per their comfort level. Seats are powered and adjustable between various seating positions depending upon passenger’s requirement. Aircraft seat actuation systems also allow passengers to adjust environmental conditions around their seat such as lighting and temperature, watch movies and adjust their head and foot rest.

The COVID-19 pandemic has affected the aircraft seat actuation system market significantly. The persistence of COVID-19 has affected the aviation sector and hence disrupted the travelling and movement facilities which were previously available for citizens of any economy.

STRATEGIC DECISIONS BY MANUFACTURERS OF AIRCRACT SEAT ACTUATION SYSTEM

The financial condition and results of operations have been adversely affected by seat actuator manufacturing companies. This pandemic had forced the governments around the world to implement stringent measures to help control the spread of the virus. As a result, global demand for travel had declined in the year 2020 at a rapid pace and has remained depressed since then. This impact of COVID-19 had continued to evolve and the shape and speed of recovery for the commercial aerospace still many industry’s growth remains uncertain. Few challenges have been faced by manufacturers of aviation companies. Such as,

·         Partial or full closure of offices or manufacturing facilities, either voluntarily or in response to government had affected the production line.

·         Lower production capacity and labor productivity due to employee illness, loss of key personnel, inability to travel, or the implementation of government mandated or voluntary preventative measures such as reductions in operating hours.

·         Liquidity challenges including an inability to pay suppliers and vendors.

All these unfavorable situations had affected the global economic and capital market conditions of seat actuator manufacturing companies, which further forced the manufacturers to take few measures in order to reduce the impact of this volatility through diversification of markets and expansion. With this, few seat actuator manufactures had pursued business opportunities from other markets, taking advantage of its technical design expertise and manufacturing capabilities.

For instance,

Astronics Corporation had reported significant concentration of business with their two major customers; Panasonic Avionics Corporation (“Panasonic”) and The Boeing Company (“Boeing”). Sales to Panasonic accounted for 11.1% of sales in 2020, 13.0% of sales in 2019, and 14.4% of sales in 2018.  Also the company reported that the loss of Boeing or Panasonic as major customers may have significant reduction in business with either of those customers would reduce our sales and earnings. In 2020, they had a concentration of sales to Boeing and Panasonic representing approximately 9.5% and 11.1% of our sales, respectively. The loss of either of these customers or a significant reduction in business would significantly reduce the sales and overall earnings of the company.

In addition, the commercial airline industry is highly cyclical and sensitive to such things as fuel price increases, labor disputes, global economic conditions, availability of capital to fund new aircraft purchases and upgrades of existing aircraft and passenger demand, all of which have been significantly impacted by the ongoing COVID-19 pandemic. A change in any of these factors could result in a further reduction in the amount of air travel and the ability of airlines to invest in new seat actuating system in aircraft or to upgrade existing aircraft. These factors would reduce orders for new aircraft and hence, spending for cabin upgrades for which the manufacturing companies’ supplies their products, thereby reducing the overall sales of the companies.

IMPACT ON THE DEMAND AND SUPPLY OF AIRCRAFT SEAT ACTUATION SYSTEM

When the pandemic emerged, all the sectors including the aviation sector have been adversely affected due to government restrictions for travelling and movement.

The commercial aerospace industry, in particular, has been significantly disrupted, both domestically and internationally. The aviation industry has the huge growth potential to help the country’s economic growth but due to lockdown imposition, the companies’ manufacturing of aircraft parts had been adversely affected owing to less number of order received and severe financial crisis. These factors are responsible for slowing down of the production facilities permanently. During this unprecedented time, various companies are experiencing disruption in production capacities due to movement of labor to their native villages, non-travelling of passengers, and customers defer delivery of new aircraft. This has overall, reduced the demand of aircraft seat actuation system significantly. The impact of the COVID-19 crisis distanced more than 1 billion passengers in the year, 2020 as compared to the projected baseline representing a decline of around 64.6% of total global passenger traffic.

As Alexandre de Juniac, IATA’s Director General and CEO said, ‘’Last year was a catastrophe. There is no other way to describe it. What recovery there was over the Northern hemisphere summer season stalled in autumn and the situation turned dramatically worse over the year-end holiday season, as more severe travel restrictions were imposed in the face of new outbreaks and new strains of COVID-19”

Aircraft seat actuation systems provide comfortable seating for the passengers in commercial as well as private aircraft. But as the COVID-19 pandemic continues, demand for spare parts is also down because of low maintenance requirement level. While production may slow for the same reasons as in aircraft manufacturing, demand over the next two years is unlikely to be affected since few manufactures are facing severe financial crisis. Additionally, supply of aircraft pneumatic seat actuation system parts such as electronic components, position sensors, and arresting brakes have been depressed due to the ongoing pandemic.

For instance,

According to the European Aviation Safety Agency (EASA) and Federal Aviation Administration (FAA) regulations, commercial aircraft with 9G seats will no longer be permitted to operate in the next few years. The board had framed these regulations on the requirement for aircraft to have stronger seats, which must be designed to increase the survivability of passengers and flight attendants during accidents. These had also posed a challenge for airlines in terms of cost and time as many of them do not have the budget to replace seats of all older aircraft with new ones.

CONCLUSION

Pandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players, and consumers can win the fight against COVID-19.

While most of the companies have shown resilience by innovating technologies in real time, and demonstrating the tremendous value of the manufacturing network to customers and partners around the world, by partnering & collaborating together, seat actuator manufacturers are developing technologies and capabilities either internally or through acquisition to provide innovative solutions to the aerospace, defense and other markets where their technology can be beneficial even in this unprecedented time. This would create opportunities for the companies to deploy capital growth in the business and thereby surviving & wining in the market place in these uncertain times.

The COVID-19 pandemic has changed the entire business scenario of aviation sector. The commercial airline industry has been severely affected by factors such as travelling restrictions, fuel price increases, labor disputes, global economic conditions, availability of capital to fund new aircraft purchases and upgrades of existing aircraft and passenger demand.

#COVID-19 Impact on Aircraft Seat Actuation System Market demand #Aircraft Seat Actuation System COVID-19 Impact #COVID-19 Impact on Aircraft Seat Actuation System Market Supply #COVID-19 Impact on Aircraft Seat Actuation System Market Price

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Hydraulic Aircraft Seat Actuation System Market is expected to show impressive growth rate between 2021 to 2028

Hydraulic Aircraft Seat Actuation System Market is expected to show magnificent CAGR according to latest study Published by Profshare Market Research. The percentage splits, market shares, growth rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources. The study also provides key market indicators affecting the growth of the market.

Research report includes in depth competitive analysis with shares of each player inside market, growth rate and market attractiveness in different end users/regions. Study used very precise top-down and bottom-up approach in order to validate market revenue, volume, manufacturers, regional analysis, product segments and end users/applications.

Major players in the market are identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included key opinion of leaders and industry experts.

Seamless product delivery to consumer has become more important than it ever were, proper value chain analysis exactly delivers the same. Supplier analysis delivers very clear picture supply- demand scenario in the market. Opportunities and threat analysis has gain significant importance in recent years primarily due to dynamic nature of industry. Analytical tools used while developing research studies includes SWOT analysis, market sizing, Porter’s 5 Forces model, PESTAL analysis.

Access Full Report @ https://www.profsharemarketresearch.com/hydraulic-aircraft-seat-actuation-system-market/

Market Segmentation

Product Types:

Pneumatic

Hydraulic

Electro-Mechanical

Application/ End User Analysis

OEM

Aftermarket

Company Analysis

Dornier Technologie

Astronics

Zodiac Aerospace

BHLER MOTOR

Nook Industries

Crane

Regional analysis

North America : USA, Mexico, Canada

Europe: UK, Germany, France, Spain, Italy, Netherlands & Rest of Europe

Asia Pacific : China, India, Japan, Singapore, South Korea & Oceania

Latin America : Brazil & Argentina

Middle East : UAE, Qatar, Israel.

Rest of the World.

Research report includes below primary reasons that makes it very useful as one stop information point for various market scenarios.

Market estimation

Forecast 2020-28

Growth drivers

Raw material & Supply analysis

End User & Application insight

Key player’s analysis

Import & Export scenario

Challenges & Opportunities

Current & emerging market trends.

Tenders & Pricing scenario.

Key Questions answered by the Hydraulic Aircraft Seat Actuation System Market Report:

What is the Base Year for Hydraulic Aircraft Seat Actuation System Market report?

What historical data is included in Hydraulic Aircraft Seat Actuation System Market Report?

Are Top companies in Hydraulic Aircraft Seat Actuation System Market are analysed in this report?

What are the regions analysed in Hydraulic Aircraft Seat Actuation System Market Report?

What are the main topics covered in the Hydraulic Aircraft Seat Actuation System Market Report ?

Is COVID 19 impact on the Hydraulic Aircraft Seat Actuation System Market included in the report ?

About Profshare:

Profshare Market Research is a full service market research company that delivers in depth market research globally. We operate within consumer and business to business markets offering both qualitative and quantitative research services. We work for private sector clients, along with public sector and voluntary organizations. Profshare Market Research publishes high quality, in-depth market research studies, to help clients obtain granular level clarity on current business trends and expected future developments. We are committed to our client’s needs, providing custom solutions best fit for strategy development and implementation to extract tangible results.

To Know More About Us Visit :https://www.profsharemarketresearch.com/

Contact :

Kalyani D

Profshare Market Research

[email protected]

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COVID-19 Impact on Aircraft Seat Actuation System Market in Automotive Industry | Data Bridge Market Research

COVID-19 Impact on Aircraft Seat Actuation System Market in Automotive Industry

The COVID-19 pandemic has influenced the whole planet with its major impacts on the economy and businesses across the globe. The COVID-19 spread worldwide in unprecedented ways due to its high infectious and contagious nature and lack of availability of its vaccine. As a result, the greatest medical challenge in the 21st century is yet to be faced by physicians worldwide. Though the emergence of the virus can be traced back to Asia, many European countries along with the U.S. have been struck massively by the pandemic. The virus has spread across all regions ranging from North America, Europe, Asia-Pacific, Middle East, and Africa up to South America. The COVID-19 has been declared as a pandemic by World Health Organization (WHO) due to its increased spread across the globe. After the declaration of the pandemic, various countries announced the complete lockdown such as India, China, and other Asian countries to decrease its spread. According to the situation report of 7th June, 2021 by WHO stated 174 million cases of the corona have been reported globally and 3.7 million patients are dead due to the coronavirus. On a slightly positive note, a total of 157 million people have recovered and total of 1.9 million vaccine doses have been administered as well.

The COVID-19 pandemic has affected the aircraft seat actuation system market significantly. The persistence of COVID-19 has affected the aviation sector and hence disrupted the travelling and movement facilities which were previously available for citizens of any economy.

Actuators convert electrical signals to mechanical movements.  Seat actuation system in aircrafts enables passengers to adjust their seating position as per their comfort level. Seats are powered and adjustable between various seating positions depending upon passenger’s requirement. Aircraft seat actuation systems also allow passengers to adjust environmental conditions around their seat such as lighting and temperature, watch movies and adjust their head and foot rest.

IMPACT ON THE DEMAND AND SUPPLY OF AIRCRAFT SEAT ACTUATION SYSTEM

When the pandemic emerged, all the sectors including the aviation sector have been adversely affected due to government restrictions for travelling and movement.

The commercial aerospace industry, in particular, has been significantly disrupted, both domestically and internationally. The aviation industry has the huge growth potential to help the country’s economic growth but due to lockdown imposition, the companies’ manufacturing of aircraft parts had been adversely affected owing to less number of order received and severe financial crisis. These factors are responsible for slowing down of the production facilities permanently. During this unprecedented time, various companies are experiencing disruption in production capacities due to movement of labor to their native villages, non-travelling of passengers, and customers defer delivery of new aircraft. This has overall, reduced the demand of aircraft seat actuation system significantly. The impact of the COVID-19 crisis distanced more than 1 billion passengers in the year, 2020 as compared to the projected baseline representing a decline of around 64.6% of total global passenger traffic.

As Alexandre de Juniac, IATA’s Director General and CEO said, ‘’Last year was a catastrophe. There is no other way to describe it. What recovery there was over the Northern hemisphere summer season stalled in autumn and the situation turned dramatically worse over the year-end holiday season, as more severe travel restrictions were imposed in the face of new outbreaks and new strains of COVID-19”

Aircraft seat actuation systems provide comfortable seating for the passengers in commercial as well as private aircraft. But as the COVID-19 pandemic continues, demand for spare parts is also down because of low maintenance requirement level. While production may slow for the same reasons as in aircraft manufacturing, demand over the next two years is unlikely to be affected since few manufactures are facing severe financial crisis. Additionally, supply of aircraft pneumatic seat actuation system parts such as electronic components, position sensors, and arresting brakes have been depressed due to the ongoing pandemic.

For instance,

According to the European Aviation Safety Agency (EASA) and Federal Aviation Administration (FAA) regulations, commercial aircraft with 9G seats will no longer be permitted to operate in the next few years. The board had framed these regulations on the requirement for aircraft to have stronger seats, which must be designed to increase the survivability of passengers and flight attendants during accidents. These had also posed a challenge for airlines in terms of cost and time as many of them do not have the budget to replace seats of all older aircraft with new ones.

STRATEGIC DECISIONS BY MANUFACTURERS OF AIRCRACT SEAT ACTUATION SYSTEM

The financial condition and results of operations have been adversely affected by seat actuator manufacturing companies. This pandemic had forced the governments around the world to implement stringent measures to help control the spread of the virus. As a result, global demand for travel had declined in the year 2020 at a rapid pace and has remained depressed since then. This impact of COVID-19 had continued to evolve and the shape and speed of recovery for the commercial aerospace still many industry’s growth remains uncertain. Few challenges have been faced by manufacturers of aviation companies. Such as,

·         Partial or full closure of offices or manufacturing facilities, either voluntarily or in response to government had affected the production line.

·         Lower production capacity and labor productivity due to employee illness, loss of key personnel, inability to travel, or the implementation of government mandated or voluntary preventative measures such as reductions in operating hours.

·         Liquidity challenges including an inability to pay suppliers and vendors.

All these unfavorable situations had affected the global economic and capital market conditions of seat actuator manufacturing companies, which further forced the manufacturers to take few measures in order to reduce the impact of this volatility through diversification of markets and expansion. With this, few seat actuator manufactures had pursued business opportunities from other markets, taking advantage of its technical design expertise and manufacturing capabilities.

For instance,

Astronics Corporation had reported significant concentration of business with their two major customers; Panasonic Avionics Corporation (“Panasonic”) and The Boeing Company (“Boeing”). Sales to Panasonic accounted for 11.1% of sales in 2020, 13.0% of sales in 2019, and 14.4% of sales in 2018.  Also the company reported that the loss of Boeing or Panasonic as major customers may have significant reduction in business with either of those customers would reduce our sales and earnings. In 2020, they had a concentration of sales to Boeing and Panasonic representing approximately 9.5% and 11.1% of our sales, respectively. The loss of either of these customers or a significant reduction in business would significantly reduce the sales and overall earnings of the company.

In addition, the commercial airline industry is highly cyclical and sensitive to such things as fuel price increases, labor disputes, global economic conditions, availability of capital to fund new aircraft purchases and upgrades of existing aircraft and passenger demand, all of which have been significantly impacted by the ongoing COVID-19 pandemic. A change in any of these factors could result in a further reduction in the amount of air travel and the ability of airlines to invest in new seat actuating system in aircraft or to upgrade existing aircraft. These factors would reduce orders for new aircraft and hence, spending for cabin upgrades for which the manufacturing companies’ supplies their products, thereby reducing the overall sales of the companies.

CONCLUSION

Pandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players, and consumers can win the fight against COVID-19.

The COVID-19 pandemic has changed the entire business scenario of aviation sector. The commercial airline industry has been severely affected by factors such as travelling restrictions, fuel price increases, labor disputes, global economic conditions, availability of capital to fund new aircraft purchases and upgrades of existing aircraft and passenger demand.

While most of the companies have shown resilience by innovating technologies in real time, and demonstrating the tremendous value of the manufacturing network to customers and partners around the world, by partnering & collaborating together, seat actuator manufacturers are developing technologies and capabilities either internally or through acquisition to provide innovative solutions to the aerospace, defense and other markets where their technology can be beneficial even in this unprecedented time. This would create opportunities for the companies to deploy capital growth in the business and thereby surviving & wining in the market place in these uncertain times.

#Aircraft Seat Actuation System #Aircraft Seat Actuation System Market #Aircraft Seat Actuation System Market Analysis #Aircraft Seat Actuation System Market Analysis in Developed Countries #Aircraft Seat Actuation System Market by Application #Aircraft Seat Actuation System Market by Type #Aircraft Seat Actuation System Market Development #Aircraft Seat Actuation System Market Forcast #Aircraft Seat Actuation System Market Future Innovation

[sandlerresearch]

Aircraft Seat Actuation System Market by Type (Electromechanical, Pneumatic, Hydraulic), End User (OEM, Aftermarket), Aircraft Type, Seat Class, Component, and Region - Global Forecast to 2025 published on

https://www.sandlerresearch.org/aircraft-seat-actuation-system-market-by-type-electromechanical-pneumatic-hydraulic-end-user-oem-aftermarket-aircraft-type-seat-class-component-and-region-global-forecast-to-2025.html

Aircraft Seat Actuation System Market by Type (Electromechanical, Pneumatic, Hydraulic), End User (OEM, Aftermarket), Aircraft Type, Seat Class, Component, and Region - Global Forecast to 2025

“Increase in demand for premium economy seats  and maintenance & retrofitting of existing aircraft are the major factors driving the Aircraft Seat Actuation SystemMarket.”

The global aircraft seat actuation system market size is projected to grow from USD 496 million in 2020 to USD 763 million by 2025, at a CAGR of 9.0% from 2020 to 2025. The market is driven by various factors, such as increase in demand for premium economy seats  and maintenance & retrofitting of existing aircraft.

The aircraft seat actuation system market includes major players Astronics Corporation (US), ITT Inc. (US), Crane Co. (US), Collins Aerospace (US), and Bühler Motor GmbH (Germany). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect aircraft seat actuation system production and services by 7–10% globally in 2020.

“Electromechanical: The largest segment of the aircraft seat actuation system market, by type. “

The electromechanical segment is expected to be the largest market by value. The growth of the electromechanical segment of the aircraft seat actuation system market can be attributed to the application of electromechanical actuation system for both linear and rotary mechanism.

“OEM: The fastest-growing segment of the aircraft seat actuation system market, by end user. “

Based on end user, the OEMsegment is projected to be the highest CAGR rate for the aircraft seat actuation system market during the forecast period. The growth of the OEM segment of the aircraft seat actuation system market can be attributed to the increased demand for customized aircraft that are fitted with various components as retrofitting existing aircraft is a cumbersome process for airlines.

 “Rotary wing: The fastest-growing segment of the aircraft seat actuation system market, by aircraft type. “

Based on the aircraft type, the rotary wing segment is projected to be the highest CAGR rate for the aircraft seat actuation system market during the forecast period.The rotary wing segment includes only helicopters. Over the past few years, countries such as the US, France, Russia, and Italy have made considerable investments in the commercial sector. Russian helicopters have been focusing to promote its chopper Ansat for the civilian market in India. In addition, the increase in government budgets for VIP/VVIP transport has enabled the procurement of new aircraft, including helicopters, which is expected to drive the rotary wing segment.

“First class and economy class: The fastest-growing segment of the aircraft seat actuation system market, by seat class. “

Based on the seat class, the first class and economy class segments are projected to grow at the highest CAGR rate for the aircraft seat actuation system market during the forecast period. First class seats are one of the most expensive classes among all the classes of seats that airlines provide. The first class includes large reclining seats with more legroom and width than other classes to suites with a fully reclining seat, workstation, and an entertainment system surrounded by privacy dividers. Hence, increasing demand of IFEC systems drives this segment. High demand for economy class seats is witnessed with the growth of LCC aircraft. LCCs provide air travel at a minimum cost, as they do not have meal services included in the ticket price.

“Passenger control unit: The fastest-growing segment of the aircraft seat actuation system market, by component. “

Based on component, the passenger control unit segment are projected to grow at the highest CAGR rate for the aircraft seat actuation system market during the forecast period. The growth of the passenger control unit segment of the aircraft seat actuation system market can be attributed to the retrofitting of existing aircraft.

“North America: The largest contributing region in the aircraft seat actuation system market.”

North America is projected to be the largest regional share for the aircraft seat actuation system market during the forecast period. The key factor responsible for North America, leading the aircraft seat actuation system market owing to the rapid growth of the technologically advanced seating system in the region. The increasing use of technology in aircraft presents several opportunities for aircraft seating technology manufacturers.

Leading aircraft manufacturers, such as The Boeing Company and Bombardier, and major aircraft system and component manufacturers, such as Collins Aerospace, Astronics Corporation, ITT Inc., and Crane Co. are headquartered in North America. Some of the largest commercial airlines (based on fleet size), such as American Airlines Group, Delta Air Lines, Inc., and United Airlines, are also headquartered in the region.

Breakdown of primaries

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

By Company Type: Tier 1–49%; Tier 2–37%; and Tier 3–14%

By Designation: C Level–55%; Directors–27%; and Others–18%

By Region: North America–55%; Europe–27%; Asia Pacific–9%; and Rest of the World–9%

Astronics Corporation (US), ITT Inc. (US), Crane Co. (US), Collins Aerospace (US), and Bühler Motor GmbH (Germany) are some of the leading players operating in the aircraft seat actuation system  market report.

Research Coverage

The study covers the aircraft seat actuation system market across various segments and sub segments. It aims at estimating the size and growth potential of this market across different segments based on type, end user, aircraft type, seat class, component, and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.

Reasons to Buy this Report

This report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Aircraft Seat Actuation System Market and its segments. This study is also expected to provide region wise information about the end use, and wherein aircraft seat actuation system  is used. This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.

#Automotive