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
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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End-User Type
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OE and Aftermarket
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OE is likely to remain the demand propeller; however, the aftermarket is likely to witness impressive growth in the near future.
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Aircraft Type
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Wide-Body Aircraft, Narrow-Body Aircraft, and Regional Aircraft
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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.
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Sales Channel Type
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SFE and BFE
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SFE is estimated to remain the dominant and faster-growing segment during the forecast period.
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Regions
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North America, Europe, Asia-Pacific, and Rest of the World
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North America is likely to remain the dominant region, whereas Asia-Pacific is projected to remain the fastest-growing region during the forecast period.
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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 report provides market intelligence in the most comprehensive way. 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
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
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