What is the future of Aircraft Overhead Stowage Bins Market? Know Covid Impact on Size, Share & Forecasts
July 06, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Overhead Stowage Bins Market.
It was estimated prior to this unanticipated outbreak that the Aircraft Stowage Bins Market will reach an estimated value of US$ 501.3 million in 2023. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Aircraft Overhead Stowage Bins Market Segment Insights:
By Aircraft Type:
Narrow-body aircraft is projected to remain the largest aircraft segment of the global aircraft overhead stowage bins market during the forecast period, driven by increasing production rates of A320 family and B737 including their fuel-efficient variants (A320neo and B737 Max) and an advancement in bins technology. Wide-body aircraft is likely to witness the highest growth during the forecast period, driven by B787 and A350XWB and upcoming fuel-efficient variants including B777x and A330neo.
By Region:
North America is expected to remain the dominant overhead stowage bins market for the aircraft industry during the forecast period. The region is the manufacturing capital of the aerospace industry with the presence of large- to small-sized OEMs, stowage bin manufacturers, and raw material suppliers. Asia-Pacific is likely to witness the highest growth during the same period, driven by an increasing demand for commercial aircraft, the opening of assembly plants of Airbus and Boeing in China, indigenous development of commercial aircraft (COMAC C919), and modernization of old aircraft.
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Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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