Aircraft Overhead Stowage Bins Market is Forecast to Reach US$ 656.6 Million in 2028, Says Stratview Research

The Aircraft Overhead Stowage Bins market is likely to rise at a CAGR of 10.7% during 2023-2028, to reach US$ 656.6 million in 2028, states Stratview Research.

DETROIT, Nov. 16, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global Aircraft Overhead Stowage Bins Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment and analysis, and competitive landscape.

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Report Highlights

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 the aircraft type - The market is bifurcated into narrow-body aircraft, wide-body aircraft, regional aircraft, and business jets. Narrow-body is expected to be the dominant segment of the aircraft overhead stowage bins market in the foreseen future, driven by the high focus of bin manufacturers on the development of spacious bins for key aircraft programs (B737 and A320) and the faster recovery trajectory of narrow-body aircraft programs than wide-body ones. A320 family including neo, B737 including & max, and A220 will remain the growth propellors of the segment in the years to come.

Based on the stowage bin type - The market is segmented into shelf bin, pivot bin, and translating bin. Pivot bin is expected to be the dominant bin type in the market in the forthcoming years. Pivot bins provide high visibility, high article retention, and reduce 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.  

Based on the sales channel type - The market is segmented into BFE and SFE. Among these sale-channel types, SFE dominates the market with a share of more than three-fifths of the aircraft overhead stowage bins market. Airlines are switching from BFE to SFE products. Several advancements in retrofits are used to cut down additional costs and avoid delays from BFE suppliers. SFE is becoming more popular in the cabin because of the delays in wide-body aircraft deliveries.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that the North American region is likely to dominate the market for aircraft overhead stowage bins in the coming years. This growth 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.

Likewise, the 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 generation. The Chinese aircraft, COMAC C919, is anticipated to be in service in 2023. Overhead stowage bin demand from this region is projected to increase at the same time as aircraft orders and deliveries rise throughout the projection period.

Aircraft Overhead Stowage Bins Market Drivers

Some of the key reasons that are propelling the growth of the market include-

• Rising commercial aircraft deliveries.
• The launch of fuel-efficient programs.
• Advancements in bin design.
• Expanding aircraft fleets.

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Top Companies in the Aircraft Overhead Stowage Bins Market?

The market's supply chain is composed of raw material manufacturers, bin component manufacturers, overhead stowage bin manufacturers, aircraft OEMs, and airline companies. The following are some of the key players in the aircraft overhead stowage bins market:

• 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 Deliverables Will You Get in this Report?

Related reports which might be useful:

• Aircraft Interior Sandwich Panel Market
• Aircraft Galley Equipment Market

About us –

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. The reliability and insightfulness of the reports enable the readers take convincing business decisions.

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SOURCE Stratview Research