Enjoy complimentary customisation on priority with our Enterprise License!
The commercial aircraft passenger service unit (PSU) market size is estimated to grow at a CAGR of 5.35% between 2022 and 2027, and the size of the market is forecast to increase by USD 319.97 million. The growth of the market depends on several factors, such as the development of sleek and attractive PSUs increasing the safety and comfort level of aircraft, then enhancing production activities to achieve higher performance levels, and the growing demand for new-generation aircraft.
This report extensively covers market segmentation by application (narrow-body aircraft, wide-body aircraft, and regional aircraft), component (AC vents, loud speakers, automatically deployable oxygen masks, lighting system components, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
Our analysis of the adoption life cycle of the market indicates its movement between the innovator’s stage and the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Commercial Aircraft Passenger Service Unit (PSU) Market Customer Landscape
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the Commercial Aircraft Passenger Service Unit market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The development of sleek and attractive PSUs that increase the safety and comfort level in aircraft is notably driving the commercial aircraft PSU market growth. As the airline industry evolves, aircraft OEMs and airline operators prefer sleeker PSUs over conventional, bulky PSUs that were used earlier in commercial aircraft. The growing preference for sleeker PSUs can be attributed to the increased focus on making aircraft cabins more spacious. Most prominent market vendors have redesigned their PSUs and transformed them into sleeker and more attractive components. For instance, Safran's PaxPod PSU is a small, stylish product that features a fully integrated air gasper, LED reading and halo lights, a flight attendant call button, and an oxygen system. Meanwhile, United Technologies has used advanced composites in every key PSU component to reduce the overall weight.
Rockwell Collins, a subsidiary of United Technologies, has developed a new-generation oxygen-delivering technology called the PulseOx passenger oxygen system, which uses pulse technology to provide oxygen more efficiently. The new oxygen system has allowed for significant weight reduction when compared to traditional oxygen systems. Technavio expects the growing focus on making PSUs lightweight and more attractive to boost the growth of the market in focus. Such developments will reinforce the place of PSUs as integral components in modern aircraft cabins, propelling the growth of the Commercial Aircraft Passenger Service Unit market during the forecast period.
The development of PSUs with a display is the primary trend in the commercial aircraft PSU market's growth. Bombardier, a leading aircraft manufacturer, has developed a PSU with a display feature. In 2016, the company introduced this PSU in the Bombardier C Series aircraft supplied to Swiss International Air Lines. The PSU features a screen display about the size of a smartphone, which enables the aircraft crew to convey crucial information to passengers seated in each row. The placement of the screen gives better visibility of information to most passengers. Currently, the application of this screen is limited to safety purposes and does not integrate in-flight entertainment.
Apart from providing crucial information, such as showing safety videos prior to departure, the screen also displays a moving map during the flight. Technavio expects displays to become integral parts of future PSUs across all commercial aircraft as they have immense potential to enhance passenger convenience. Additionally, airline operators can also use these displays as platforms for contextual advertisements, which will give additional benefits to them. Such factors will increase the Commercial Aircraft Passenger Service Unit market growth during the forecast period.
The cost pressure on the aviation supply chain is the major challenge impeding the commercial aircraft PSU market's growth. A PSU comprises various elements combined into one single unit, and this unit commands a premium price, given the quality requirements of all the elements or components. Moreover, these components must meet the stringent quality control and tests defined by stakeholders, which include aircraft OEMs. PSU system manufacturers also need to restrict their production costs to satisfy demand-side requirements even as they deliver high-quality products because they are liable for product failures, which can impact their bottom lines.
Both aircraft OEMs and component manufacturers are exploring various avenues to keep production costs under control while maintaining quality standards. One option is to outsource manufacturing to low-cost countries such as China. But with labor costs rising in traditionally low-cost countries as well, keeping production costs manageable can pose a stiff challenge. Such factors will hinder the market growth during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aero Mock Ups Inc.: The company offers commercial aircraft passenger service units such as rolling, canoe, and commuter.
Astronics Corp.: The company offers commercial aircraft passenger service units such as 737 Boeing Sky Interior and 737 BSI.
We also have detailed analyses of the market’s competitive landscape and offer information on 5 market vendors, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The narrow-body aircraft segment will account for a major share of the market's growth during the forecast period. Narrow-body aircraft refer to single-aisle aircraft that permits up to six abreast seating in a cabin. Narrow-body aircraft have a twin-engine setup integrated at the wings for providing thrust.
Get a Customised Report as per your requirements for FREE!
The narrow-body aircraft segment was valued at USD 465.52 million in 2017 and continued to grow until 2021. The demand for narrow-body aircraft is fueled by the efficiency-focused operations of airline operators in both emerging and developed economies, where factors such as average load and seasonality are vital in determining profit margins. Of late, instances of aircraft OEMs delivering upgraded versions of narrow-body aircraft have been on the rise. Low-cost carriers (LCCs) are modernizing existing fleets to tap into new market opportunities as they make efforts to remain abreast with the competencies of successive versions/generations of aircraft. Such factors will increase segment growth during the forecast period.
Based on component, the market has been segmented into AC vents, loud speakers, automatically deployable oxygen masks, lighting system components, and others. The AC vents segment will account for the largest share of this segment. AC vents are one of the components of the PSU system that is used for air conditioning. They help to circulate cool and fresh air inside the aircraft cabin and maintain a comfortable temperature for passengers. The market segment for AC vents in the commercial aircraft PSU system is influenced by various factors such as the growth in air travel, the demand for comfortable and luxurious air travel experience, the introduction of new aircraft models, and the need for energy-efficient PSU systems.Such factprs will increase segment growth during the forecast period.
North America is estimated to contribute 41% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
For more insights on the market share of various regions View PDF Sample now!
The commercial aircraft industry in North America is mature and predominantly supported by the robust aviation base of North American countries, particularly the US. Boeing and Bombardier are the major commercial aircraft manufacturers based in the region. Higher air traffic has resulted in the procurement of more aircraft by many regional and international airline operators in North America. This has encouraged the regions Tier-1 and Tier-2 suppliers to enhance their manufacturing capabilities.
Also, foreign suppliers and component vendors, including PSU vendors, have also increased their investments in North America to expand their presence and work alongside Boeing and Bombardier. This is a crucial revenue enabler for the market, as PSUs are integral to commercial aircraft. For instance, Airbus SE, a European multinational aerospace business, officially launched its A220 final assembly line (FAL) production plant in Alabama, the US, in April 2020. Such introductions are expected to fuel the growth of the commercial aircraft PSU market in North America during the forecast period.
The aviation industry witnessed a drastic decline in passenger numbers due to the outbreak of COVID-19 in North America and, therefore, witnessed a major revenue decline in 2020. However, after the vaccination drive the removal of lockdowns allowed aircraft manufacturers to resume production of commercial aircraft PSU. As a result of these factors, the demand for aircraft is likely to rise, significantly boosting the growth of the regional market in focus during the forecast period.
The commercial aircraft passenger service unit (PSU) market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Commercial Aircraft Passenger Service Unit (PSU) Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.35% |
Market growth 2023-2027 |
USD 319.97 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
4.13 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 41% |
Key countries |
US, Canada, France, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aero Mock Ups Inc., Astronics Corp., Cabin Crew Safety Ltd., LTG Rastatt GmbH, Raytheon Technologies Corp., Safran SA, and Triumph Group Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Component
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.