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The commercial aircraft cabin trash compactors market share is expected to increase to USD 43.53 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.75%.
This commercial aircraft cabin trash compactors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers commercial aircraft cabin trash compactors market segmentations by application (narrow body aircraft, wide body aircraft, and regional aircraft) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The commercial aircraft cabin trash compactors market report also offers information on several market vendors, including AERTEC Group, Airbus SE, Iacobucci HF Aerospace Spa, Safran SA, and The MEL Group among others.
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The growing demand for new commercial aircraft is notably driving the commercial aircraft cabin trash compactors market growth, although factors such as the grounding of airlines and aircraft models due to financial issues and accidents may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the commercial aircraft cabin trash compactors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Commercial Aircraft Cabin Trash Compactors Market Driver
The growing demand for new commercial aircraft is one of the drivers fueling the commercial aircraft cabin trash compactors market growth. It is expected that the civil passenger traffic will double in the next 15 years globally and APAC is expected to account for the majority of the incremental growth. Moreover, the growth in the global air passenger traffic can only be met if airlines procure more aircraft to increase their fleet size and replace the retiring aircraft. For instance, Airbus doubled its gross order intake from 2020 to 2021, with 771 new sales. In the next 20 years, Airbus expects Indian carriers to account for 6% of its order book. Thus, the growing demand for new commercial aircraft is expected to drive the demand for commercial aircraft cabin trash compactors during the forecast period.
Key Commercial Aircraft Cabin Trash Compactors Market Trend
The growth of no-frills airlines may reduce the size and weight of aircraft trash compactors is one of the key commercial aircraft cabin trash compactors market trends supporting the market growth. There is an emergence of no-frills airlines as other modes of travel, such as rail and road networks, are not developed enough in most countries for convenient travel. No-frills airlines generally do offer food and beverages on board, and if they do, they charge passengers additionally. As a result, most buyers tend to avoid buying them. Thus, such airlines generate a lesser amount of cabin waste than that of a full-service airline. This may lead to the development of very small aircraft trash compactors for commercial aircraft. Hence, the growth of no-frills airlines may lead to the development of smaller and lightweight aircraft trash compactors and will propel the commercial aircraft cabin trash compactors market growth during the forecast period.
Key Commercial Aircraft Cabin Trash Compactors Market Challenge
The grounding of airlines and aircraft models due to financial issues and accidents is one of the key factors challenging the commercial aircraft cabin trash compactors market growth. The grounding of several airlines across the world in the recent past has been led due to excessive price competition. For instance, Jet Airways, which became the largest Indian airline in 2010 and occupied that position until Indigo overtook it, suspended all its operations in April 2019. The airline operated a fleet of approximately 124 commercial jets. A majority of these aircraft remain grounded. Similarly, a German airline named Germania grounded all its airplanes in February 2019 and filed for bankruptcy. Both airlines are expected to be acquired by potential suitors. However, there is uncertainty about the time that could lapse before these airlines are revived. Therefore, the grounding of airlines will challenge the commercial aircraft cabin trash compactors market growth during the forecast period.
This commercial aircraft cabin trash compactors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the commercial aircraft cabin trash compactors market encompasses successful business strategies deployed by the key vendors. The commercial aircraft cabin trash compactors market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The commercial aircraft cabin trash compactors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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39% of the market's growth will originate from Europe during the forecast period. Germany and France are the key markets for commercial aircraft cabin trash compactors market in Europe. Market growth in this region will be faster than the growth of the market in other regions.
The growing demand for wide-body and regional aircraft will facilitate the commercial aircraft cabin trash compactors market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic severely impacted the regional market. However, the initiation of large-scale COVID-19 vaccination drives in 2021 led to the resumption of operations in end-user industries. This has increased the demand for commercial aircraft cabin trash compactors in the region. Thus, such factors will drive the growth of the regional commercial aircraft cabin trash compactors market during the forecast period.
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The commercial aircraft cabin trash compactors market share growth by the narrow-body aircraft segment will be significant during the forecast period. A regional aircraft also has a single aisle but seats 100 or fewer passengers. The demand for narrow-body aircraft is fueled by the efficiency-focused operations of aircraft carriers in emerging or developed economies, where factors such as average load factors and seasonality play a vital role in determining profit margins. Hence, the growth of the narrow-body segment of the global commercial aircraft market will be crucial in augmenting the monetary dynamics of the global commercial aircraft cabin trash compactors market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial aircraft cabin trash compactors market size and actionable market insights on post COVID-19 impact on each segment.
Technavio categorizes the global commercial aircraft cabin trash compactors market as a part of the global aerospace and defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial aircraft cabin trash compactors market during the forecast period.
Our report provides extensive information on the value chain analysis for the commercial aircraft cabin trash compactors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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Commercial Aircraft Cabin Trash Compactors Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.75% |
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Market growth 2022-2026 |
$ 43.53 million |
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Market structure |
Concentrated |
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YoY growth (%) |
5.71 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 39% |
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Key consumer countries |
US, China, Singapore, Germany, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AERTEC Group, Airbus SE, Iacobucci HF Aerospace Spa, Safran SA, and The MEL Group |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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