Middle East Commercial Aircraft Cabin Interior Market Size
Icons | Lable | Value |
---|---|---|
Study Period | 2017 - 2030 | |
Market Size (2024) | USD 0.93 Billion | |
Market Size (2030) | USD 1.26 Billion | |
Largest Share by Product Type | Passenger Seats | |
CAGR (2024 - 2030) | 5.24 % | |
Largest Share by Country | United Arab Emirates | |
Market Concentration | Low | |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
Middle East Commercial Aircraft Cabin Interior Market Analysis
The Middle East Commercial Aircraft Cabin Interior Market size is estimated at 0.93 billion USD in 2024, and is expected to reach 1.26 billion USD by 2030, growing at a CAGR of 5.24% during the forecast period (2024-2030).
0.93 Billion
Market Size in 2024 (USD)
1.26 Billion
Market Size in 2030 (USD)
-10.04 %
CAGR (2017-2023)
5.24 %
CAGR (2024-2030)
Largest Market by Product Type
39.39 %
value share, Passenger Seats, 2023
Commercial airlines are modernizing their seats to increase premium economy-class seating and redesigning aircraft cabins to accommodate wider spaces between first and business classes.
Fastest-Growing Market by Product Type
5.78 %
Projected CAGR, Passenger Seats, 2024-2030
With demand for premium economy seats growing in recent years, the passenger seats segment is expected to witness the fastest growth among all products.
Largest Market by Aircraft Type
6.10 %
Projected CAGR, Widebody, 2024-2030
Widebody aircraft are designed primarily for long-haul flights. They have larger space to add more seats than narrowbody aircraft, resulting in the segment's rapid growth.
Largest Market by Country
66.21 %
value share, United Arab Emirates, 2023
The United Arab Emirates is expected to register a major revenue share during 2024-2030 due to the increasing air transportation rate and rising commercial aircraft orders from major airlines.
Leading Market Player
29 %
market share, Collins Aerospace, 2022
Collins Aerospace dominates the European cabin interior market with its strong product portfolio in the cabin interior category, offering products like seats, lighting, and galleys.
Passenger seats accounted for the largest share of 37.2% in the market
- The Middle Eastern commercial aircraft cabin interior market is segmented by product type into seats, cabin lighting, in-flight entertainment systems, windows, galleys and lavatories, and other product types. Airlines in the region are focusing on increasing the utility of these products to improve overall passenger comfort and experience.
- An enhanced seating structure with more developed space than economy-class seats is becoming highly essential due to the rising number of business-class travelers. Middle Eastern airline operators and OEMs are increasing their efforts to reduce aircraft weight and develop a sustainable way to manage the airline industry in consideration of the zero-emission 2050 goal.
- Airlines in the region are adopting advanced LED lighting to eliminate various drawbacks of existing interior cabin lights in terms of efficiency, reliability, durability, and weight. Thus, with the advancement in LED lighting solutions, various OEMs are adopting them over conventional cabin lighting. Major airlines in the region are adopting 4K technology in their in-flight entertainment systems in their active fleet of commercial aircraft. The surging number of aircraft procurements is expected to boost the demand for commercial aircraft cabin interiors in the Middle Eastern passenger aviation sector during the forecast period.
The UAE market is expected to witness the highest growth in the region
- Customer experience is always a top priority for airlines. To provide the best experience, Middle Eastern airlines are focusing on new modernized cabin interiors, providing passengers with a secure, comfortable, and more aesthetically pleasing environment at high altitudes.
- The increase in air passenger traffic is expected to drive new aircraft procurements, thus creating demand for cabin interiors. Middle Eastern airlines registered a 157.4% traffic rise in 2022 compared to 2021. Their capacity increased by 73.8%, while the load factor increased by 24.6% to reach 75.8%. In December 2022, the demand grew by 69.8% compared to the same month in 2021. Major countries, such as the United Arab Emirates, Saudi Arabia, and Qatar, accounted for 55% of the total air passenger traffic in the Middle Eastern market. Hence, growth in these countries is expected to generate a higher demand for new aircraft compared to other Middle Eastern countries.
- Major airlines in the region have registered total orders for 632 commercial aircraft. Of this total, Air Arabia ordered 73 A320neo, 27 A321neo, and 20 A321XLR, Emirates ordered 50 A350-900, 115 B777X, and 30 B787-9, Etihad ordered 26 A321neo, 15 A350-1000, 6 B777-9, 11 B787-9, and 21 BB787-10, Qatar Airways ordered 25 737 Max 10, 40 B777-9, and 23 B787-10, and Flydubai ordered 33 B737 Max 8, 67 B737 Max 9, and 50 B737 Max 10.
- With these deliveries, the demand for cabin interiors has increased, and various airlines in the region are opting for advanced aircraft systems and components such as LED cabin lights, wireless lightweight IFES, comfortable, lightweight seats, and other cabin products.
Middle East Commercial Aircraft Cabin Interior Market Trends
Consistent growth in air travel is the driving factor for air passenger traffic in the Middle East
- The Middle East, a popular connection point for international travelers and trade, is also growing as a starting point and destination for business and leisure passengers. In 2020, air passenger traffic in the Middle East dropped by 64% due to travel restrictions caused by the COVID-19 pandemic. However, in 2022, due to the rising vaccination rates and strong demand over the holiday season, air passenger traffic in the region reached 349.5 million, a growth of 16% compared to 2021, while the growth was at 45% compared to 2019. Major countries, such as the United Arab Emirates and Saudi Arabia, accounted for 42% of the total air passenger traffic, generating higher demand for new aircraft compared to other Middle Eastern countries.
- In 2022, passenger capacity increased by 73.8%, and passenger load factor grew by 24.6% to 75.8% compared to 2021. Air travel recovery in the region continues to gather momentum, and air passenger traffic is expected to double within the next 20 years. Many major Middle Eastern international route areas in Bahrain, Kuwait, Oman, Saudi Arabia, the United Arab Emirates, Iraq, Iran, Jordan, Yemen, and Qatar are already exceeding pre-COVID-19 levels. Such factors indicate that air travel has recovered and continues to gather momentum. Many major international routes, even within the Middle East, are already exceeding pre-COVID-19 levels. Tourism and the high willingness to travel continue to foster the industry’s recovery in the Middle East & Africa. The air passenger traffic levels are expected to grow by 34% in 2030 compared to 2022.
Saudi Arabia records the highest GDP per capita in the region
- The Middle East registered a GDP of USD 8,320 billion in 2022, a growth of 21% compared to 2021 and 42% compared to 2020. Of the total region's GDP, Saudi Arabia recorded the highest GDP at USD 833 billion in 2022, followed by the United Arab Emirates at USD 409 billion and Qatar at USD 179 billion. In particular, the air transport industry in Saudi Arabia contributed USD 20.2 billion, whereas the United Arab Emirates contributed USD 19.3 billion to the GDP.
- Saudi Arabia ranks first in terms of GDP and GDP per capita. As of October 2022, the country recorded USD 1.01 trillion in GDP and USD 27.94 thousand in GDP per capita. The improved performance was due to a stronger expansion in the oil sector, which grew by 23.1% in Q2 2022. The growth in the non-oil private sector was 5.4% in Q2 2022, from 4.5% in the previous quarter of the same year.
- The United Arab Emirates recorded a GDP of USD 503.91 billion in 2022 and USD 47.79 thousand per capita. Hydrocarbons continue to play a critical role in the UAE economy, with 30% of the country's GDP directly based on the oil and gas industry and 13% of its exports.
- Qatar recorded USD 221.37 billion in 2022 and USD 68.62 thousand in GDP per capita. The rise in GDP and GDP per capita was primarily due to Qatar's oil and natural gas resources, which recorded a revenue of USD 322.98 billion compared to USD 19.34 billion in the first half of 2021. The rise in profit in most sectors may eventually boost the region's GDP per capita, thereby driving the air transportation industry and creating demand for its associated sectors.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The main reasons for market growth are the expansion of the fleet and the increased demand for passenger air travel in Middle Eastern countries
- Major original equipment manufacturers (OEMs) in the sector, Boeing and Airbus, are expected to increase their production between 2023 and 2030, resulting in a balanced aircraft supply chain
- Saudi Arabia and UAE emphasized airport development and expansion projects in the region
- The primary source of revenue for aircraft manufacturers is derived from commercial aircraft orders placed with major airlines
- The aviation industry's growth is driven by the rising air travel and the high volume of aircraft orders placed by various airlines
- Airlines planning to reduce aircraft fuel consumption by opting for innovative lightweight cabin interior products is a driving factor
Middle East Commercial Aircraft Cabin Interior Industry Overview
The Middle East Commercial Aircraft Cabin Interior Market is fragmented, with the top five companies occupying 19.75%. The major players in this market are Collins Aerospace, Panasonic Avionics Corporation, Recaro Group, Safran and Thales Group (sorted alphabetically).
Middle East Commercial Aircraft Cabin Interior Market Leaders
Collins Aerospace
Panasonic Avionics Corporation
Recaro Group
Safran
Thales Group
Other important companies include Adient Aerospace, Astronics Corporation, Diehl Aerospace GmbH, Expliseat, FACC AG, GKN Aerospace Service Limited, Jamco Corporation, Luminator Technology Group, SCHOTT Technical Glass Solutions GmbH, STG Aerospace.
*Disclaimer: Major Players sorted in alphabetical order.
Middle East Commercial Aircraft Cabin Interior Market News
- July 2023: Jamco Corporation announced that through a collaboration with KLM Royal Dutch Airlines (KLM), its premium class seats, Venture reverse herringbone, were installed in the World Business Class (WBC) of KLM's B777 Fleet.
- June 2023: United will be the first US airline to offer Panasonic's Astrova system, giving customers exclusive features like 4K OLED screens, high fidelity audio, and programmable LED lighting, starting in 2025.
- June 2023: French designer and aircraft seat manufacturer Expliseat is expected to deliver more than 2,000 units of its latest TiSeat model named E2. This model will be installed on the aircraft of the expanding Kuwaiti airline Jazeera Airways, which uses the Airbus A320 and A321 models, providing additional comfort to its passengers.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 35+ free charts, the section covers data on commercial aircraft deliveries by manufacturer, number of flights performed by global airline industry, fuel costs of airlines as a percentage of expenditure, fuel consumption of commercial airlines, average price of brent crude oil, inflation, commercial aircraft cabin seating volume share by region and commercial aircraft windows by region.
Middle East Commercial Aircraft Cabin Interior Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study​
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Air Passenger Traffic
2.2. New Aircraft Deliveries
2.3. GDP Per Capita (current Price)
2.4. Revenue Of Aircraft Manufacturers
2.5. Aircraft Backlog
2.6. Gross Orders
2.7. Expenditure On Airport Construction Projects (ongoing)
2.8. Expenditure Of Airlines On Fuel
2.9. Regulatory Framework
2.10. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2030 and analysis of growth prospects)
3.1. Product Type
3.1.1. Cabin Lights
3.1.2. Cabin Windows
3.1.3. In-Flight Entertainment System
3.1.4. Passenger Seats
3.1.5. Other Product Types
3.2. Aircraft Type
3.2.1. Narrowbody
3.2.2. Widebody
3.3. Cabin Class
3.3.1. Business and First Class
3.3.2. Economy and Premium Economy Class
3.4. Country
3.4.1. Saudi Arabia
3.4.2. United Arab Emirates
3.4.3. Rest of Middle East
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. Adient Aerospace
4.4.2. Astronics Corporation
4.4.3. Collins Aerospace
4.4.4. Diehl Aerospace GmbH
4.4.5. Expliseat
4.4.6. FACC AG
4.4.7. GKN Aerospace Service Limited
4.4.8. Jamco Corporation
4.4.9. Luminator Technology Group
4.4.10. Panasonic Avionics Corporation
4.4.11. Recaro Group
4.4.12. Safran
4.4.13. SCHOTT Technical Glass Solutions GmbH
4.4.14. STG Aerospace
4.4.15. Thales Group
5. KEY STRATEGIC QUESTIONS FOR COMMERCIAL AIRCRAFT CABIN INTERIOR CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- AIR PASSENGER TRAFFIC, BY COUNTRY, NUMBER OF PASSENGERS TRAVELLED, MIDDLE EAST, 2017 - 2030
- Figure 2:
- NEW AIRCRAFT DELIVERIES, NUMBER OF AIRCRAFTS DELIVERED, MIDDLE EAST, 2017 - 2030
- Figure 3:
- GDP PER CAPITA (CURRENT PRICE), BY COUNTRY, USD, MIDDLE EAST, 2017 - 2030
- Figure 4:
- REVENUE OF AIRCRAFT MANUFACTURERS, USD, MIDDLE EAST, 2017 - 2022
- Figure 5:
- AIRCRAFT BACKLOG BY MANUFACTURER, NUMBER OF AIRCRAFT, MIDDLE EAST, 2017 - 2023
- Figure 6:
- GROSS ORDERS, BY MANUFACTURER, NUMBER OF AIRCRAFT, MIDDLE EAST, 2017 - 2022
- Figure 7:
- EXPENDITURE ON AIRPORT CONSTRUCTION PROJECTS (ONGOING), % SHARE, REGION VS OTHERS ,2022
- Figure 8:
- EXPENDITURE OF AIRLINES ON FUEL, % SHARE, MIDDLE EAST, 2017 - 2022
- Figure 9:
- MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET, VALUE, USD, 2017 - 2030
- Figure 10:
- VALUE OF MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET, BY PRODUCT TYPE, USD, MIDDLE EAST, 2017 - 2030
- Figure 11:
- VALUE SHARE OF MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET, BY PRODUCT TYPE, %, MIDDLE EAST, 2017 VS 2023 VS 2030
- Figure 12:
- VALUE OF CABIN LIGHTS MARKET, USD, MIDDLE EAST , 2017 - 2030
- Figure 13:
- VALUE SHARE OF CABIN LIGHTS BY AIRCRAFT TYPE, USD, MIDDLE EAST, 2023 VS 2030
- Figure 14:
- VALUE OF CABIN WINDOWS MARKET, USD, MIDDLE EAST , 2017 - 2030
- Figure 15:
- VALUE SHARE OF CABIN WINDOWS BY AIRCRAFT TYPE, USD, MIDDLE EAST, 2023 VS 2030
- Figure 16:
- VALUE OF IN-FLIGHT ENTERTAINMENT SYSTEM MARKET, USD, MIDDLE EAST , 2017 - 2030
- Figure 17:
- VALUE SHARE OF IN-FLIGHT ENTERTAINMENT SYSTEM BY AIRCRAFT TYPE, USD, MIDDLE EAST, 2023 VS 2030
- Figure 18:
- VALUE OF PASSENGER SEATS MARKET, USD, MIDDLE EAST , 2017 - 2030
- Figure 19:
- VALUE SHARE OF PASSENGER SEATS BY AIRCRAFT TYPE, USD, MIDDLE EAST, 2023 VS 2030
- Figure 20:
- VALUE OF OTHER PRODUCT TYPES MARKET, USD, MIDDLE EAST , 2017 - 2030
- Figure 21:
- VALUE SHARE OF OTHER PRODUCT TYPES BY AIRCRAFT TYPE, USD, MIDDLE EAST, 2023 VS 2030
- Figure 22:
- VALUE OF MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET, BY AIRCRAFT TYPE, USD, MIDDLE EAST, 2017 - 2030
- Figure 23:
- VALUE SHARE OF MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET, BY AIRCRAFT TYPE, %, MIDDLE EAST, 2017 VS 2023 VS 2030
- Figure 24:
- VALUE OF NARROWBODY MARKET, USD, MIDDLE EAST , 2017 - 2030
- Figure 25:
- VALUE SHARE OF NARROWBODY BY CABIN CLASS, USD, MIDDLE EAST, 2023 VS 2030
- Figure 26:
- VALUE OF WIDEBODY MARKET, USD, MIDDLE EAST , 2017 - 2030
- Figure 27:
- VALUE SHARE OF WIDEBODY BY CABIN CLASS, USD, MIDDLE EAST, 2023 VS 2030
- Figure 28:
- VALUE OF MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET, BY CABIN CLASS, USD, MIDDLE EAST, 2017 - 2030
- Figure 29:
- VALUE SHARE OF MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET, BY CABIN CLASS, %, MIDDLE EAST, 2017 VS 2023 VS 2030
- Figure 30:
- VALUE OF BUSINESS AND FIRST CLASS MARKET, USD, MIDDLE EAST , 2017 - 2030
- Figure 31:
- VALUE SHARE OF BUSINESS AND FIRST CLASS BY PRODUCT TYPE, USD, MIDDLE EAST, 2023 VS 2030
- Figure 32:
- VALUE OF ECONOMY AND PREMIUM ECONOMY CLASS MARKET, USD, MIDDLE EAST , 2017 - 2030
- Figure 33:
- VALUE SHARE OF ECONOMY AND PREMIUM ECONOMY CLASS BY PRODUCT TYPE, USD, MIDDLE EAST, 2023 VS 2030
- Figure 34:
- VALUE OF MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET, BY COUNTRY, USD, MIDDLE EAST, 2017 - 2030
- Figure 35:
- VALUE SHARE OF MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET, BY COUNTRY, %, MIDDLE EAST, 2017 VS 2023 VS 2030
- Figure 36:
- VALUE OF SAUDI ARABIA MARKET, USD, SAUDI ARABIA , 2017 - 2030
- Figure 37:
- VALUE SHARE OF SAUDI ARABIA BY AIRCRAFT TYPE, USD, SAUDI ARABIA, 2023 VS 2030
- Figure 38:
- VALUE OF UNITED ARAB EMIRATES MARKET, USD, UNITED ARAB EMIRATES , 2017 - 2030
- Figure 39:
- VALUE SHARE OF UNITED ARAB EMIRATES BY AIRCRAFT TYPE, USD, UNITED ARAB EMIRATES, 2023 VS 2030
- Figure 40:
- VALUE OF REST OF MIDDLE EAST MARKET, USD, REST OF MIDDLE EAST , 2017 - 2030
- Figure 41:
- VALUE SHARE OF REST OF MIDDLE EAST BY AIRCRAFT TYPE, USD, REST OF MIDDLE EAST, 2023 VS 2030
- Figure 42:
- NUMBER OF STRATEGIC MOVES OF MOST ACTIVE COMPANIES, MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET, MIDDLE EAST, 2017 - 2022
- Figure 43:
- TOTAL NUMBER OF STRATEGIC MOVES OF COMPANIES, MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET, MIDDLE EAST, 2017 - 2022
- Figure 44:
- MARKET SHARE OF MIDDLE EAST COMMERCIAL AIRCRAFT CABIN INTERIOR MARKET (%), MIDDLE EAST, 2022
Middle East Commercial Aircraft Cabin Interior Industry Segmentation
Cabin Lights, Cabin Windows, In-Flight Entertainment System, Passenger Seats are covered as segments by Product Type. Narrowbody, Widebody are covered as segments by Aircraft Type. Business and First Class, Economy and Premium Economy Class are covered as segments by Cabin Class. Saudi Arabia, United Arab Emirates are covered as segments by Country.
- The Middle Eastern commercial aircraft cabin interior market is segmented by product type into seats, cabin lighting, in-flight entertainment systems, windows, galleys and lavatories, and other product types. Airlines in the region are focusing on increasing the utility of these products to improve overall passenger comfort and experience.
- An enhanced seating structure with more developed space than economy-class seats is becoming highly essential due to the rising number of business-class travelers. Middle Eastern airline operators and OEMs are increasing their efforts to reduce aircraft weight and develop a sustainable way to manage the airline industry in consideration of the zero-emission 2050 goal.
- Airlines in the region are adopting advanced LED lighting to eliminate various drawbacks of existing interior cabin lights in terms of efficiency, reliability, durability, and weight. Thus, with the advancement in LED lighting solutions, various OEMs are adopting them over conventional cabin lighting. Major airlines in the region are adopting 4K technology in their in-flight entertainment systems in their active fleet of commercial aircraft. The surging number of aircraft procurements is expected to boost the demand for commercial aircraft cabin interiors in the Middle Eastern passenger aviation sector during the forecast period.
Product Type | |
Cabin Lights | |
Cabin Windows | |
In-Flight Entertainment System | |
Passenger Seats | |
Other Product Types |
Aircraft Type | |
Narrowbody | |
Widebody |
Cabin Class | |
Business and First Class | |
Economy and Premium Economy Class |
Country | |
Saudi Arabia | |
United Arab Emirates | |
Rest of Middle East |
Market Definition
- Product Type - Commercial Aircraft cabin interior products such as passenger seats, cabin lighting, inflight entertainment system, cabin windows, lavatories, galley, and stowage bins have been included under the product type in this study.
- Aircraft Type - All the passenger aircraft such as narrowbody and widebody which are single-aisle and twin-aisle are included in this study.
- Cabin Class - Business and First Class, economy and premium economy are classes of air travel provided by the airlines that offer various services to the passengers.
Keyword | Definition |
---|---|
Gross domestic product (GDP) | Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period by countries. |
Original Equipment Manufacturer (OEM) | An original equipment manufacturer (OEM) traditionally is defined as a company whose goods are used as components in the products of another company, which then sells the finished item to users. |
High Dynamic Range (HDR) | Dynamic range describes the ratio between the brightest and darkest parts of an image. HDR is used to capture a greater dynamic range than SDR. |
Federal Aviation Administration (FAA) | The division of the Department of Transportation is concerned with aviation. It operates Air Traffic Control and regulates everything from aircraft manufacturing to pilot training to airport operations in the United States. |
European Aviation Safety Agency (EASA) | The European Aviation Safety Agency is a European Union agency established in 2002 with the task of overseeing civil aviation safety and regulation. |
4K Display | 4K resolution refers to a horizontal display resolution of approximately 4,000 pixels. |
Organic Light Emitting Diode (OLED) | It is the light-emitting diode (LED) in which the emissive electroluminescent layer is a film of organic compound that emits light in response to an electric current. |
Mean Time Between Failures (MTBF) | The mean time between failures is the predicted elapsed time between inherent failures of a mechanical or electronic system, during normal system operation. |
(Low-Cost Carrier (LCCs) | It is an airline that is operated with an especially high emphasis on minimizing operating costs and without some of the traditional services and amenities provided in the fare |
Electronically Dimmable Windows (EDW) | It is a type of window that blocks up to 99.96% of all visible light and provide full opacity, integrated into the window cassette of the sidewall panel. |
Research Methodology
ÌÇÐÄvlog´«Ã½ follows a four-step methodology in all our reports.
- Step 1: Identify Key Variables: Â In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step 2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step 3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step 4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms