March 2014 – Rising demand for heavy maintenance and modifications helped boost the global aftermarket service sales outlook to a 5.7% increase in the first half of 2014.
Overall modifications spending to rise more than 10% in 2014. Much of this will be focused on the interior segment, driven by increased inflight entertainment spending and weight-savings opportunities.
The modifications market may be shaking free of stagnant demand. Year-over-year sales last quarter grew a so-so 3.8%, but a 9.0% increase in service backlog led all aftermarket segments .Overall modifications spending to increase more than 10% in 2014, with aircraft interior products —notably in-flight entertainment and anything offering weight-saving opportunities.
A trend has been observed detailing OEMs willing to pay more value for weight savings. Airlines want innovation at low risk and lighter weight without sacrificing durability.
Over all this market can be characterized by Panasonic’s forecasted global in-flight entertainment revenue increasing to $5.3 billion in 2020 from $1.8 billion in 2011. More than half of the global airline fleet will be equipped for Wi-Fi and cellular connectivity by 2022.