Market Size of Commercial Aircraft Overhead Stowage Bins Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 345.28 Million |
| Market Size (2029) | USD 600.32 Million |
| CAGR (2024 - 2029) | 11.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Commercial Aircraft Overhead Stowage Bins Market Analysis
The Commercial Aircraft Overhead Stowage Bins Market size is estimated at USD 345.28 million in 2024, and is expected to reach USD 600.32 million by 2029, growing at a CAGR of 11.70% during the forecast period (2024-2029).
Overhead stowage bins have come a long way since their introduction regarding motion control and storability. The design has evolved with the type and quantity of passenger carry-on baggage and the demand for increased bin capacities. Airlines are focusing on maximizing cabin space to accommodate more travelers comfortably. OEMs are working closely with airlines to develop new overhead bins that are large, lightweight, and aesthetically designed to suit passenger demands. These developments also allow airlines to generate additional revenue through premium storage options.
Overhead stowage bins are provided on every commercial passenger aircraft. Hence, their demand is increasing with the increasing deliveries of new aircraft as more passengers are taking to the skies, leading to higher aircraft utilization rates. New aircraft programs and cabin refurbishment projects are expected to drive market growth as manufacturers strive to meet the evolving needs of airlines and passengers alike.
However, by decreasing the boarding deplaning time, many airlines are promoting only check-in luggage facilities in their airlines, which offers a decrease in demand from such airlines for storage bins in the aircraft.
Commercial Aircraft Overhead Stowage Bins Industry Segmentation
Commercial aircraft overhead storage bins refer to the compartments or storage spaces above passengers' seats inside commercial airplanes. These bins are designed to allow passengers to stow their carry-on luggage, such as bags, briefcases, or smaller personal items, during a flight. Efficient and well-designed overhead storage bins are crucial for ensuring airline passengers' comfortable and organized travel experience. The study covers the overhead stowage bins used in new and existing aircraft.
The commercial aircraft overhead stowage bins market is segmented by aircraft type, fit, and geography. Based on aircraft type, the market is segmented into narrow-body aircraft, wide-body aircraft, and regional aircraft. By fit, the market is segmented into line-fit and retrofit. The report also covers the market sizes and forecasts for the commercial aircraft overhead stowage bins market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
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Commercial Aircraft Overhead Stowage Bins Market Size Summary
The commercial aircraft overhead stowage bins market is experiencing significant growth, driven by the increasing demand for efficient and spacious storage solutions in aircraft cabins. As airlines strive to maximize cabin space and enhance passenger comfort, the design and functionality of overhead bins have evolved to accommodate larger and more numerous carry-on items. This evolution is particularly evident in widebody aircraft, which are favored for long-haul flights due to their generous storage capacities and spacious seating arrangements. The collaboration between original equipment manufacturers (OEMs) and airlines is crucial in developing lightweight, aesthetically pleasing, and functional overhead bins that meet the growing needs of travelers. This trend is further supported by the rising number of aircraft deliveries and the expansion of new aircraft programs, which are expected to drive market growth during the forecast period.
The Asia-Pacific region is poised for substantial growth in the overhead stowage bins market, fueled by a surge in air travel and increasing passenger numbers. The region's expanding middle class, coupled with rising disposable incomes and tourism, has led to a higher demand for cabin luggage storage solutions. Airlines in this region are actively investing in fleet modernization and expansion, which includes upgrading cabin features such as overhead storage bins. Key players in the market, including Airbus SE, FACC AG, Safran, AVIC Cabin Systems (UK) Limited, and JAMCO Corporation, are focusing on innovative solutions to secure long-term contracts and enhance their market share. The introduction of new aircraft models and the development of advanced overhead bin designs, such as Airbus's Airspace XL Bins, are expected to further propel market growth, offering increased storage capacity and improved operational efficiency.
Commercial Aircraft Overhead Stowage Bins Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Aircraft Type
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2.1.1 Narrow-body Aircraft
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2.1.2 Wide-body Aircraft
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2.1.3 Regional Aircraft
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2.2 Fit
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2.2.1 Line-fit
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2.2.2 Retrofit
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 France
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2.3.2.3 Germany
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2.3.2.4 Russia
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2.3.2.5 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 Latin America
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2.3.4.1 Mexico
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2.3.4.2 Brazil
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2.3.4.3 Rest of Latin America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 United Arab Emirates
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2.3.5.3 Egypt
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2.3.5.4 South Africa
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2.3.5.5 Rest of Middle East and Africa
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Commercial Aircraft Overhead Stowage Bins Market Size FAQs
How big is the Commercial Aircraft Overhead Stowage Bins Market?
The Commercial Aircraft Overhead Stowage Bins Market size is expected to reach USD 345.28 million in 2024 and grow at a CAGR of 11.70% to reach USD 600.32 million by 2029.
What is the current Commercial Aircraft Overhead Stowage Bins Market size?
In 2024, the Commercial Aircraft Overhead Stowage Bins Market size is expected to reach USD 345.28 million.
