Aircraft Stowage Bins Market Worth US$ 501.3 million in 2023

Stratview Research announces the launch of a new research report on Aircraft Stowage Bins Market. This 212-page extensive report from Stratview Research, studies the Aircraft Stowage Bins Market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

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This Aircraft Stowage Bins Market analysis has been segmented in six ways, keeping in mind the interest of all the stakeholders across the value chain.
• by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, and Others) – Narrow-body aircraft will remain the largest aircraft segment of the market.
● by Aircraft Program Type (B737, B777, B787, and Others)
• by Bin Type (Shelf Bin, Pivot Bin, and Translating Bin)
● by Board Type (Inboard and outboard)
● by Fit Type (Line Fit and Retro Fit)
● and by Region (North America, Europe, Asia-Pacific, and RoW) – North America to remain the largest market.

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The Overhead Stowage Bins Market for the Aircraft Industry Insights

The aircraft stowage bins market offers healthy growth opportunities over the next five years to reach an estimated value of US$ 501.3 million in 2023. Increasing commercial aircraft deliveries, the introduction of fuel-efficient variants of existing aircraft programs, an advancement in bin design, and growing aircraft fleet size are the key factors that are driving the demand for overhead stowage bins in the aircraft industry over the next five years.

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Overhead bins are originally more than a shelf with a door. they have grown in size over the years and yet have not reached their optimum level. Recent passenger surveys revealed that the lack of overhead space is one of the biggest gripes in the airline industry today. Airlines keep on conveying to OEMs about their passengers’ complaints regarding the lack of space in overhead bins. They are seeking bins that are large, easier and safer to use, aesthetically good, and easy to maintain.

Both Boeing and Airbus are developing new stowage bins by carving out every single centimeter of space in such a way that the aircraft will accommodate more number of rollaboard bags in it. For instance: Boeing developed large pivot bins for its Sky Interior design in 2010 which is used in the smaller B737 fuselage. Also, major tier players are working with OEMs for developing overhead stowage bins, which are lightweight, aesthetically good, and large in size to accommodate more number of rollaboard bags in the cabin. Recently, FACC AG jointly worked with Airbus and developed a new modular pivot overhead stowage bin for A320 family which increases the overhead stowage volume by 10% and allows increased capacity for up to 60 percent more luggage.

North America is expected to remain the dominant overhead stowage bins market for the aircraft industry during the forecast period. The region is the manufacturing capital of the aerospace industry with the presence of large- to
small-sized OEMs, stowage bin manufacturers, and raw material suppliers.

Asia-Pacific is likely to witness the highest growth during the same period, driven by an increasing demand for commercial aircraft, the opening of assembly plants of Airbus and Boeing in China, indigenous development of commercial aircraft (COMAC C919), and modernization of old aircraft.

The supply chain of this market comprises raw material manufacturers, bin component manufacturers, overhead stowage bin manufacturers, aircraft OEMs, and airline companies. The key aerospace OEMs are Boeing, Airbus, Bombardier, Embraer, ATR, and Mitsubishi Heavy Industries and key airliners are Lufthansa, Delta Air, Air China, and Singapore Airlines. The key overhead stowage bin manufacturers are Zodiac Aerospace, FACC AG, Boeing Interior Responsibility Center, Jamco Corporation, and Aim Altitude. New product development, collaboration with OEMs, and long-term contracts are some of the key strategies adopted by the major players to gain a competitive edge in the market. All the players are developing larger and lightweight bins that can accommodate a large number of rollaboard bags.

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 on 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, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

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