Aircraft Stowage Market is Forecast to Reach US$ 811 Million in 2028, Says Stratview Research

The Aircraft Stowage Market is likely to rise at a CAGR of 10.8% during 2023-2028, to reach US$ 811 million in 2028, states Stratview Research.

DETROIT, Dec. 14, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global Aircraft Stowage Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on the Aircraft Stowage Market

The global Aircraft Stowage Market is segmented based on Aircraft Type, Stowage 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. Narrow-body aircraft is expected to be the dominant segment with a market share of > 45% in the foreseeable future. An expected increase in the production rates for the A320 series, B737, and A220 is creating opportunities across the supply chain. Furthermore, all the leading stowage bin suppliers, particularly overhead stowage bins, have been hammering hard for the development of advanced bin systems for narrow-body aircraft, helping airlines to accommodate a greater number of baggage in the bin area.

Based on wide-body type - Wide-body aircraft emerged to be the biggest victim of the pandemic. Restrictions on international travel almost soaked the market demand for wide-body aircraft programs. Furthermore, delays in the market entry of B777x and B787's glitch dented the market demand. However, it is anticipated that the market will bounce back at an impressive rate in the coming years, driven by B777x, B787, A350XWB, and A330 neo.

Based on stowage type - The market is segmented into overhead stowage bins and others. Overhead stowage bin is expected to be the dominant segment in the forthcoming years. Overhead stowage bins are used in all major platforms, including B737, B767, B787, A320 family, and A350XWB. New product developments in overhead stowage bins targeting aftermarkets are driving the demand for overhead stowage bins.

Based on end-user type - The market is segmented as OE and aftermarket. Between end-user types, the OE segment dominates the market and is anticipated to maintain its dominance in the years to come; however, the aftermarket segment is likely to grow faster for the same period. The aftermarket segment is likely to double over the next five years from the current level, creating humongous opportunities for market participants.

To know the attractive segments, click here for a free sample pdf: 

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Which Region Offers the Best Opportunity and Growth?

The report suggests that North America is likely to dominate in the years to come with a market share of >40%. 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, Asia-Pacific is expected to witness the fastest growth in the aircraft stowage market in the coming years. Asia-Pacific is witnessing a rise in demand for air travel, 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 the coming years. 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 Stowage Market Drivers

Some of the key drivers listed in the report are given below.

• The patterned growth in aircraft deliveries.
• Rising demand for fuel-efficient aircraft programs.
• Retrofitting of interior components as a part of modernization.

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Top Companies in the Aircraft Stowage Market?

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

• Safran S.A.
• AVIC Cabin Systems Limited
• Collins Aerospace
• The Boeing Company (Boeing Encore and Boeing IRC)
• Bucher Leichtbau AG
• EFW GmbH
• Jamco Corporation
• Diehl Stiftung & Co. KG (Diehl Aviation)
• Euro-Composites Corporation

What Deliverables Will You Get in this Report?

 Related reports which might be useful:

• Aircraft Overhead Stowage Bins Market
• Aircraft Cabin Interior Composites 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