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    Aircraft PSU Market Report

    Aircraft PSU Market Report
    Report code - SR2147 Published On : Sep,2022 No. of Pages: 125
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    Aircraft PSU (Passenger Service Unit) Market Size, Share, Trend, Forecast, Competitive Ana See more...

    Market Highlights

    Aircraft PSU is a component of an aircraft fitted above each row of seats. It consists of reading lights, an attendant call button, and illuminated signs (to let people know that the aircraft is a no-smoking zone and remind them to wear their seatbelts). Apart from these, it also contains loudspeakers, air gaspers (air outlets), air conditioning vents, and deployed oxygen masks (to be used in case of emergency). Many aircraft manufacturers are switching from traditional PSUs to sleek and elegant PSUs. Sleeker PSUs are preferred by airlines since they increase cabin space as well as make significant contributions to weight reduction. This has prompted numerous vendors to modify and improve their PSUs, making them sleeker and more appealing.                                                                                                                                                                                                                         

    The sudden outbreak of the pandemic resulted in supply chain disruption and deferment of orders by airlines, causing financial havoc throughout the aviation value chain. Aircraft PSU is an essential interior section and has an almost similar trajectory amid the pandemic. The market experienced a staggering fall in 2020 (-46.5%, YoY), throwing the market demand for PSUs to almost a decade-back level.  

    In 2021, the market started showing some signs of recovery with ease of lockdown and travel restrictions, but with temporary suspension in deliveries of the B787 program and delays in the entry of new aircraft programs dented the overall demand. However, it is anticipated that the PSU market is likely to bring back on the growth track from 2023 onwards and shall maintain its recovery trajectory in the following years. Overall,  the Aircraft PSU market is likely to rebound at a promising CAGR of 13% in the long run to reach US$ 356 Million in 2027. 

    Market Segments' Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    End-User Type

    OE and Aftermarket

    OE is likely to remain the demand propeller; however, the aftermarket is likely to witness impressive growth in the near future.

    Aircraft Type

    Wide-Body Aircraft, Narrow-Body Aircraft, and Regional Aircraft

    Narrow-body aircraft are likely to remain the dominant segment. B737 Max and A320neo will remain the growth engines. A220 and C919 to add a stir to the growth momentum.

    Sales Channel Type

    SFE and BFE

    SFE is estimated to remain the dominant and faster-growing segment during the forecast period.

    Regions

    North America, Europe, Asia-Pacific, and Rest of the World

    North America is likely to remain the dominant region, whereas Asia-Pacific is projected to remain the fastest-growing region during the forecast period.

    Based on the aircraft type,  the market is segmented into narrow-body aircraft, wide-body aircraft, and regional aircraft. Narrow-body aircraft is expected to remain the biggest demand generator for PSUs during the forecast period in the wake of an expected increase in the production rate of key aircraft programs, rebounding aftermarket, and development of passenger-friendly cabin environments.

    Based on the end-user type, the aircraft PSU market is segmented as OE and aftermarket. OE is expected to lead the market during the forecast period, owing to increasing production rates of key aircraft programs (B737, A320 family, etc.) and the entry of new players (COMAC and Irkut). Aftermarket, securing a reasonable market share, is likely to generate a plethora of growth opportunities in the near future. Airlines either postponed or canceled their aircraft refurbishments in the year 2022 for the year 2023. This trend was visible at both OE as well as aftermarket levels. Increasing air passenger traffic is likely to rejuvenate the withered demand in the near future at the aftermarket level.

    Based on the sales channel type, the market is segmented as BFE (buyer-furnished equipment) and SFE (supplier-furnished equipment). SFE is expected to be the dominant as well as the fastest-growing sales channel type in the coming years. The ratio of SFE to BFE differs from company to company. Also, some players have a high focus on one channel type. For instance, Collins Aerospace has a major presence in SFE, whereas Diehl Aviation is one of the major players in BFE.

    In terms of region, North America is expected to remain the largest market during the forecast period. The presence of major aircraft manufacturers, tier players, distributors, and raw material suppliers, primarily drives the demand for PSUs in the region. The USA being the dominant market in the region will continue to drive the market expansion in the region. Asia-Pacific is likely to experience the highest market growth in the next five years, owing to the development of commercial and regional aircraft (CMAC's C919), the presence of the largest fleet of commercial aircraft, and assembly plants of Boeing and Airbus in China. 

     

    Key Players

    The market is marked by a handful of major players. The majority of the big competitors compete in some of the deciding elements such as price, design, contracts, and geographical presence. The major players in the market for aircraft PSUs are listed below.

    • Collins Aerospace
    • Safran S.A.
    • Astronics Corporation
    • Diehl Stiftung & Co. KG
    • Luminator Aerospace 

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft PSU market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    ?This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The aircraft PSU market is segmented into the following categories. 

    Aircraft PSU Market, by Aircraft Type

    • Narrow-Body aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Wide-Body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regional Aircraft  (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft PSU Market, by End-User Type

    • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft PSU Market, by Sales Channel Type

    • BFE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • SFE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft PSU Market, by Component Type

    • Cabin Oxygen System (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Structural (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Elements (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft PSU Market, by Region Type

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    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 to sales@stratviewresearch.com

    A Bird's Eye View of the Market

    The leading companies in the market for aircraft PSUs are Collins Aerospace, Safran S.A., Astronics Corporation, Diehl Stiftung & Co. KG, and Luminator Aerospace. Most of the major companies have been efficacious in securing long-term contracts with the leading airframers for key aircraft programs.

    The aircraft PSU market is estimated to grow at a healthy CAGR of 13% over the next five years to reach a value of US$ 0.4 Billion in 2027. Key factors driving the demand for aircraft PSU are upcoming aircraft programs, expected recovery in the production rate of key aircraft programs, and rising demand for sleeker and elegant PSUs.

    North America is estimated to be dominant in the aircraft PSU market in the coming years. This region remains the go-getter in technology developments. All the leading aircraft OEMs and interior players have an excellent presence in the region to tap the growing market potential.

    Asia-Pacific is estimated to remain the fastest-growing market for aircraft PSUs in the foreseeable future. The entry of new players and huge capital investments drive the overall regions market. Economies, like China and India, will contribute to the expansion of the Asia-Pacific region.

    OE is projected to maintain its dominance in the market during the forecast period, due to rising production rates of important programs especially the B737 and A320 family, new players entering the market (COMAC, etc.), and upcoming aircraft programs.

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