Aircraft Overhead Stowage Bins Market is Forecasted to Reach US$ 668 million in 2034, Says Stratview Research

The global aircraft overhead stowage bins market is projected to witness a growth rate of 3.4% annually from 2024 to 2034, with an anticipated size of US$ 668 million by 2034, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global aircraft overhead stowage bins market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2034: US$ 668 million
Growth (CAGR): 3.4% during 2024-2034
Forecast Period: 2024-2034
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Aircraft Overhead Stowage Bins Market:
The global aircraft overhead stowage bins market is segmented based on aircraft type, stowage bin type, sales channel type, end-user type, and region.

Based on aircraft type - The market is bifurcated into narrow-body aircraft, wide-body aircraft, regional aircraft, and business jets. The narrow-body segment is expected to lead the aircraft overhead stowage bins market in the coming years, driven by manufacturers' focus on creating more spacious bins for key aircraft programs such as the B737, A320, and their variants. Additionally, the faster recovery of narrow-body aircraft programs compared to wide-body models will further fuel this growth. The A320 family (including the NEO), B737 (including MAX), and A220 will continue to be the main drivers of this market segment in the foreseeable future. Wide Body aircraft will be the fastest-growing aircraft type in the aircraft overhead stowage bins market during the forecast period. As airlines continue to expand their fleets to meet growing demand for international and long-haul travel, the need for wide-body aircraft which are designed to accommodate more passengers will drive the demand for additional overhead storage capacity.

Based on the stowage bin type - The market is segmented into shelf bins, pivot bins, and translating bins. Pivot bins are expected to be the dominant bin type of the market in the forthcoming years. Pivot bins provide high visibility and high article retention accidents. They are currently used on all the major platforms, including the B737, B747, B767, B787, A320 family, and A350XWB. Key players are developing new and advanced products, primarily targeting pivot bins and shelf bins. Translating stowage bins is expected to witness the fastest growth in the coming years. As airlines strive to improve the overall passenger experience, there is a greater focus on optimizing cabin space. Translating stowage bins allows for easier access and more comfortable storage options, which can help improve overall customer satisfaction.

Based on the sales channel type - The market is segmented into BFE and SFE. Among the various sales channels, SFE (Supplier Furnished Equipment) currently dominates the aircraft overhead stowage bins market, accounting for over three-fifths of the total share. Airlines are increasingly transitioning from BFE (Buyer Furnished Equipment) to SFE products, driven by advancements in retrofit solutions that help reduce additional costs and prevent delays caused by BFE suppliers. SFE's popularity is also rising due to delays in wide-body aircraft deliveries, making it a more attractive option for cabin outfitting.

Based on the end-user type - the market is segmented as OE and aftermarket. The OE segment dominates the market and is anticipated to maintain its dominance in the years to come; and is likely to grow at a faster pace for the same period. As airlines continue to invest in modernizing their fleets and improving onboard services, the OE segment stands to benefit from the continued integration of innovative materials and high-performance equipment into new aircraft models.

To know the most attractive segments, visit:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to maintain its dominant position throughout the forecast period, while Asia-Pacific is anticipated to witness the fastest growth. This growth outlook is majorly attributed to the following-
- Factors supporting the demand for aircraft overhead stowage bins in North America are the presence of several aircraft OEMs and tier players.
- Asia-Pacific is likely to witness the fastest growth rate in the coming years, due to high growth in air travel demand, which led airlines to make new orders for aircraft of a newer generatio.
- The Chinese aircraft COMAC C919 is now expected to enter service in 2024, with the first deliveries scheduled for that year.
- As aircraft orders and deliveries from China and other Asian markets continue to grow, the demand for overhead stowage bins is anticipated to rise accordingly over the forecast period.
- This increase will be fuelled by the expansion of China's commercial aviation fleet and the rising need for efficient and innovative cabin solutions, both for domestic use and in international markets, particularly as new aircraft like the C919 begin to enter operation.

Aircraft Overhead Stowage Bins Market Drivers:

Some of the key drivers listed in the report are given below.
- Increasing commercial aircraft deliveries, the implementation of fuel-efficient initiatives, advancements in bin design, and the expansion of global aircraft fleets.

Top Companies in the Aircraft Overhead Stowage Bins Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Safran S.A.
• AVIC Cabin Systems Limited
• Collins Aerospace
• Jamco Corporation
• Diehl Stiftung & Co. KG
• Bucher Leichtbau AG
• Boeing Encore Interiors LLC
• EFW GmbH
• Euro-Composites Corporation
• Haeco Cabin Solutions
• The Gill Corporation

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Aircraft Overhead Stowage Bins Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.