Autoliv has set out revised long-term growth targets based on its own position in the market and trends in the penetration rate of its core product offerings in automotive passive and active safety systems.

The company predicts that its current market will grow by approximately 5% annually to more than US$27 billion until 2015, and that “the same level of growth is not unlikely to continue until 2017”. That forecast is based on existing vehicle production plans and current penetration rate trends for automotive passive and active safety systems. The company’s long-term target is to grow its organic sales at least in line with its market. Autoliv believes that capital expenditure of 4-5% of sales is needed to support this level of continued growth of the company.

Autoliv also said that it believes there is opportunity to further strengthen its position as OE demand for its products such as airbags and seatbelts rises in places such as China. It also said that “a strong position in frontal and side airbags where the penetration in some growth markets should increase by up to 20 percentage points between 2013 and 2017, should also support the future sales growth”.