Overhead bins have not yet reached the optimum level even they have grown in size over the years. One of the biggest problems in today’s airlines is that they lack overhead space. Airlines companies conveys OEM’s about the passengers grievances related to the lack of space on the overhead bins. The passengers seek for larger, safer and easier to use that are aesthetically good. Both Airbus and Boeing are working on new stowage bins by designing it in a way that is likely to accommodate additional number of roll aboard bags in the air plane. In 2010, Boeing introduced large pivot bins for its Sky interior that is used in smaller B737 fuselage.
Majority of the operators have developed comprehensive guidelines for passenger carry-on baggage that comprise maximum allowable baggage weight, size and quantity. Majority of the overhead stowage bin manufacturers along with OEMs are developing the bins that are large in size, light weight, aesthetically good and can accommodate additional number of roll aboard bags in the cabin of the air plane. Airbus and FACC AG jointly introduced a new modular pivot overhead stowage bin for A320 family that is likely to enhance the overhead stowage capacity and allows greater capability for up to sixty percent extra luggage.
The market is primarily driven by the factors like increasing demand of regional and commercial aircraft deliveries. Increasing passenger traffic globally is boosting the demand of regional and commercial aircraft deliveries. Another important driver in this market is the increasing share of wide body aircraft and commercial air fleet size during the forecast period. Profits growth in the commercial sector is likely to befuelled by operators replacing obsolete aircraft and better airframe production rates, an enhanced cycle for airlines, increasing demand of international passenger and millions of new people entering the middle class in developing countries
Advancement in technology is likely to be one of the important opportunities in the global aerospace overhead stowage bins market.
The global aerospace overhead stowage bins market based on aircraft type is bifurcated into narrow body aircraft, wide body aircraft, regional and very large aircraft. Wide body aircraft is one of the dominant segment in the global market.These aircraft are generally used for long-haul flights between major cities and airline hubs with voluminous passengers.
On the basis of bin type, the global aerospace stowage bin market is segregated into shelf bin, pivot bin and translating bin. Based on board type, the market is bifurcated into inboard overhead stowage bin and outboard overhead stowage bin. On the basis of fit type, the market is segmented into retro fit and line fit.
The geographical split of the global aerospace overhead storage bins market includes North America, Europe, Asia Pacific, Middle East and Latin America. North America accounts largest market revenue share and is expected to remain the dominant market during the forecast period followed by Europe and Asia Pacific. Presence of numerous commercial aircraft manufacturers is one of the factor bolstering the demand of aerospace overhead stowage bins market in North America.
The supply chain of this market includes bin component manufacturers, overhead stowage bin manufacturers, raw material manufacturers,Airlines and Aircraft OEMs. The important aerospace OEMs are Airbus, Boeing, Embraer, Bombardier, Mitsubishi Heavy Industries and ATR.The key airliners are Delta Air, Lufthansa, Singapore Airlines and Air China.
Some of the major players in the global aerospace overhead stowage bins market includes FACC AG (Austria), Zodiac Aerospace (France), Jamco Corporation (Japan), Boeing Interior Responsibility Center (U.S.)and Aim Altitude (U.K.) among others. Collaboration with OEMs, long term contracts and new product development are the vital strategies implemented by the major players to increase competitive edge in the market.