Commercial Aircraft Overhead Stowage Bins Market

Commercial Aircraft Overhead Stowage Bins Market Size (2022 to 2027)

The global market for commercial aircraft overhead stowage bins is predicted to be growing at a 4.5% CAGR from 2022 to 2027.

The overhead stowage bins have not reached their optimum level even though they have grown over the years. One of the biggest problems for airlines today is the lack of airspace. The airline communicates passengers' complaints related to the lack of space above the OEM. Airbus and Boeing are developing new storage boxes by designing them to accommodate additional setbacks on the plane. Advances in the empty design development of products such as light-emitting diode (LED) strips with a long operating life cycle and the use of innovative technologies to simplify the operation of the airlines.

Market Drivers:

New aircraft programs and cabin renovation projects will drive commercial aircraft overhead stowage bins market growth in the coming years.

Aircraft manufacturers focus on redefining interactions and improving the customer experience by adopting smart systems such as smart luggage boxes. These base containers are equipped with sensors and provide real-time container occupancy using the Internet of Things (IoT) connection technology. Smart base containers also detect gas emission events and provide metrics such as temperature, humidity, pressure and air quality in the containers to help improve passenger safety, reduce overall passenger stress and prevent transitions of the airplanes. Some providers also offer smart luggage storage boxes that show passengers the allocated space and allow reservations of space for their luggage. 

The emergence of intelligent luggage storage is a significant trend that positively impacts the growth of the Commercial Aircraft Overhead Stowage Bins Market. Aircraft manufacturers increasingly use lightweight composite materials to reduce the aircraft's total weight without compromising its carrying capacity. Commercial Aircraft Overhead Stowage Bins also replace the product's gas springs with hydraulic machinery, increasing the service life, facilitating operation, and reducing the total ownership cost. Some suppliers also offer LED strips that indicate the increased capacity of airbase stations and space in the container. Such development and innovative design accelerate the growth rate of the commercial aircraft overhead stowage bins market to multiply during the forecast period.

Market Restraints:

The gap between supply and demand is predicted to increase, limiting the availability and price fluctuations of the components per cabin of the aircraft, including the cargo compartment, which will increase the cost of the modernization and renovation of the room.

REPORT COVERAGE:

This research report on the global commercial aircraft overhead stowage bins market has been segmented and sub-segmented into the following categories.

Commercial Aircraft Overhead Stowage Bins Market - By Aircraft Type:

• Narrow-body Aircraft
• Wide-body Aircraft
• Regional Aircraft

Wide-body aircraft is the dominant sector in the world market, generally used for long-distance flights between major cities and airline centers with ample storage space. However, in the forecast period, the narrow-body aircraft segment is estimated to expand with the highest CAGR, attributed to the advances in retrofit adjustments, demand for lightweight planes, and adoption from low-cost carriers.

Commercial Aircraft Overhead Stowage Bins Market - By Bin Type:

• Shelf Bin
• Pivot Bin
• Translating Bin

Commercial Aircraft Overhead Stowage Bins Market - By Fit Type:

• Line-Fit
• Retro Fit

The retrofit segment is anticipated to account for the most substantial growth rate in the foreseen years due to the adoption of narrow-body aircraft stowage bins.

Commercial Aircraft Overhead Stowage Bins Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America commercial aircraft overhead stowage bins market represents the largest share in revenues, and Europe and the Asia Pacific are expected to remain influential markets during the forecast period. The presence of numerous commercial aircraft manufacturers is one-factor driving demand for the North American market. Asia-Pacific registered the highest air passenger traffic in 2018, forcing airlines to place new orders for next-generation aircraft.

Key Players:

FACC AG, AIM Altitude, Airbus SE, Safran SA, JAMCO Corporation, United Technologies Corporation, The Boeing Co, and ITT Inc. are manufacturers of aerial cabinets and related components for commercial aircraft. In addition, Boeing offers an optional space container on the 737MAX aircraft. The space compartment can accommodate six standard-sized bags, more than two of the current Boeing Sky interior pivoting compartments installed in multiple 737NG.