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.
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.
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.
Market Size Available
2021 to 2027
2022 to 2027
By Aircraft Type, Bin Type, Fit Type & Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
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:
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:
Commercial Aircraft Overhead Stowage Bins Market - By Fit Type:
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 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.
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.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Commercial Aircraft Overhead Stowage Bins Market, By Aircraft Type
6.1.1 Narrow-Body Aircraft
6.1.2 Wide-Body Aircraft
6.1.3 Regional Aircraft
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Commercial Aircraft Overhead Stowage Bins Market, By Bin Type
6.2.1 Shelf Bin
6.2.2 Pivot Bin
6.2.3 Translating Bin
6.2.4 Market Size Estimations & Forecasts (2019-2024)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Commercial Aircraft Overhead Stowage Bins Market, By Fit
6.3.2 Retro Fit
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Aircraft Type
7.2.3 By Bin Type
7.2.4 By Fit
7.3.1 By Country
184.108.40.206 Rest of Europe
7.3.2 By Aircraft Type
7.3.3 By Bin Type
7.3.4 By Fit
7.4 Asia Pacific
7.4.1 By Country
220.127.116.11 South Korea
18.104.22.168 South East Asia
22.214.171.124 Australia & NZ
126.96.36.199 Rest of Asia-Pacific
7.4.2 By Aircraft Type
7.4.3 By Bin Type
7.4.4 By Fit
7.5 Latin America
7.5.1 By Country
188.8.131.52 Rest of Latin America
7.5.2 By Aircraft Type
7.5.3 By Bin Type
7.5.4 By Fit
7.6 Middle East and Africa
7.6.1 By Country
184.108.40.206 Middle East
7.6.2 By Aircraft Type
7.6.3 By Bin Type
7.6.4 By Fit
8. Key Player Analysis
8.1 The Boeing Company
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Safran SA
8.3 United Technologies Corporation
8.4 Airbus SE
8.5 JAMCO Corporation
8.6 FACC AG
8.7 AIM Altitude
8.8 ITT Inc.
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
Based on the aircraft type, the Wide-body Aircraft accounted for the major share in the commercial aircraft overhead stowage bins market in 2021.
Geographically, the APAC region is predicted to showcase the fastest CAGR in the global market during the forecast period.
Companies playing a significant role in the global market are FACC AG, AIM Altitude, Airbus SE, Safran SA, JAMCO Corporation, United Technologies Corporation, The Boeing Co, and ITT Inc.
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