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Aircraft Overhead Stowage Bins Market Report
Aircraft Overhead Stowage Bins Market is Segmented by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Body Aircraft, and Regional Aircraft), by Aircraft Program Type (B737, B777, B787, A320 Family, A330/A340, A350XWB, A380, B737 Max, B777x, A320neo, A330neo, E175, C Series, and Others), by Bin Type ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The global aircraft stowage bins market offers healthy growth opportunities over the next five years to reach an estimated value of US$ 501.3 million in 2023. Increasing commercial aircraft deliveries, the introduction of fuel-efficient variants of existing aircraft programs, an advancement in bin design, and growing aircraft fleet size are the key factors that are driving the demand for overhead stowage bins in the aircraft industry over the next five years.
Overhead bins are originally more than a shelf with a door. They have grown in size over the years and yet have not reached their optimum level. Recent passenger surveys revealed that the lack of overhead space is one of the biggest gripes in the airline industry today. Airlines keep on conveying to OEMs about their passengers’ complaints regarding the lack of space in overhead bins. They are seeking bins that are large, easier and safer to use, aesthetically good, and easy to maintain.
Both Boeing and Airbus are developing new stowage bins by carving out every single centimeter of space in such a way that the aircraft will accommodate more number of rollaboard bags in it. For instance: Boeing developed large pivot bins for its Sky Interior design in 2010 which is used in the smaller B737 fuselage. Also, major tier players are working with OEMs for developing overhead stowage bins, which are lightweight, aesthetically good, and large in size to accommodate more number of rollaboard bags in the cabin. Recently, FACC AG jointly worked with Airbus and developed a new modular pivot overhead stowage bin for A320 family which increases the overhead stowage volume by 10% and allows increased capacity for up to 60 percent more luggage.
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Narrow-body aircraft is projected to remain the largest aircraft segment of the global aircraft overhead stowage bins market during the forecast period, driven by increasing production rates of A320 family and B737 including their fuel-efficient variants (A320neo and B737 Max) and an advancement in bins technology. Wide-body aircraft is likely to witness the highest growth during the forecast period, driven by B787 and A350XWB and upcoming fuel-efficient variants including B777x and A330neo.
North America is expected to remain the dominant overhead stowage bins market for the aircraft industry during the forecast period. The region is the manufacturing capital of the aerospace industry with the presence of large- to small-sized OEMs, stowage bin manufacturers, and raw material suppliers. Asia-Pacific is likely to witness the highest growth during the same period, driven by an increasing demand for commercial aircraft, the opening of assembly plants of Airbus and Boeing in China, indigenous development of commercial aircraft (COMAC C919), and modernization of old aircraft.
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Research Scope |
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|---|---|
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Trend & Forecast Period |
2012-2031 |
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Size in 2023 |
US$ 501.3 million |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Countries Covered |
The US, Canada, Mexico, Germany, France, the UK, Italy, Spain, China, Japan, India, Middle East, Latin America and Others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The aircraft overhead stowage bins market is segmented into the following categories.
The supply chain of this market comprises raw material manufacturers, bin component manufacturers, overhead stowage bin manufacturers, aircraft OEMs, and airline companies.
The key aerospace OEMs are-
and key airliners are-
The key overhead stowage bin manufacturers are-
New product development, collaboration with OEMs, and long-term contracts are some of the key strategies adopted by the major players to gain a competitive edge in the market. All the players are developing larger and lightweight bins that can accommodate a large number of rollaboard bags.
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
This report, from Stratview Research, studies the overhead stowage bins market for the aircraft industry over the trend period 2012 to 2017 and the forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Regional Segmentation
Benchmarking of Key Competitors
Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The aircraft overhead stowage bins market size is expected to reach US$ 501.3 million aircraft overhead stowage bins market foreseeable future.
Zodiac Aerospace, FACC AG, Boeing Interior Responsibility Center, Jamco Corporation, and Aim Altitude are the key manufacturers in the aircraft overhead stowage bins market.
North America is expected to remain dominant in the aircraft overhead stowage bins market during the next five years.
Asia-pacific is expected to witness the highest growth in the aircraft stowage bins market in the coming years.
Narrow body aircraft segment is expected to remain dominant in the aircraft stowage bins market during the next five years.
Increasing commercial aircraft deliveries, the introduction of fuel-efficient variants of existing aircraft programs, an advancement in bin design, and growing aircraft fleet size are the key factors driving the growth of aircraft stowage bins market.
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