Commercial Aircraft Overhead Stowage Bins Market was estimated at US$ xx million in 2021and is expected to increase to US$ xx million by 2026, expanding at more than 4.5% CAGR during 2021-2026.
The overhead stowage bins have not reached their optimum level even though they have grown in size over the years. One of the biggest problems for airlines today is the lack of airspace. The airline communicates the complaints of passengers related to the lack of space above the OEM. Airbus and Boeing are developing new storage boxes by designing them to accommodate an additional number of 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.
Recent Developments and Trends:
Airbus and FACC AG have jointly presented a new modular rotating roof stacker for the A320 family, improving air cargo capacity and accommodating up to 60% of additional luggage.
In June 2019, Taiwan's China Airlines signed a memorandum of understanding for 11 A321neo aircraft and will lease another 14 aircraft.
In December 2017, American Airlines chose Airbus service to update the 202 of the A202 onboard. The agreement made American Airlines the first update of the new Airbus Airspace XL storage box.
Air France selected the last ECOS trunk room of Safran Cabin in October 2019, equipped with A320 and A321 aircraft. The airline plans to gradually provide 40 A320 and 11 A321 with 1,342 new luggage compartments between September 2020 and September 2022.
New aircraft programs and cabin renovation projects are foreseen to drive market growth in the next decade.
Aircraft manufacturers are focusing 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 has a positive impact on the growth of the Commercial Aircraft Overhead Stowage Bins Market. Aircraft manufacturers increasingly use lightweight composite materials to reduce the total weight of the aircraft without compromising its carrying capacity. Commercial Aircraft Overhead Stowage Bins also replace the product's gas springs with hydraulic machinery, which increases the service life, facilitates operation and reduces total cost of ownership. Some suppliers also offer LED strips that indicate increased capacity of airbase stations and space in the container. Such development and innovation design will increase the growth rate of the Commercial Aircraft Overhead Stowage Bins Industry to multiply during the forecast period.
The gap between supply and demand is predicted to increase, which will limit 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.
By type of aircraft: The global Commercial Aircraft Overhead Stowage Bins Market by type of aircraft is divided into narrow-body planes, wide-body planes, and regional planes. Wide-body aircraft is the dominant sector in the world market, which is 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, attributing to the advances in retrofit adjustments, demand fro lightweight planes and adoption from low-cost carriers.
Depending on the type of bin, the global Commercial Aircraft Overhead Stowage Bins industry is divided into shelf bin, pivot bin and translating bin.
By fit, the global market is divided into retro adjustment and line adjustment. The retrofit segment is anticipated to account for the most substantial growth rate in the foreseen years due to the adoption in narrow-body aircraft stowage bins.
The geographical segmentation of the global commercial aircraft overhead stowage bins market includes North America, Europe, Asia Pacific, the Middle East and Latin America.
North America commercial aircraft overhead stowage bins market represents the largest share in terms of 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 of the factors that drive 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.
Top Leading Company:
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.
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
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
188.8.131.52 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
184.108.40.206 South Korea
220.127.116.11 South East Asia
18.104.22.168 Australia & NZ
22.214.171.124 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
126.96.36.199 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
188.8.131.52 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