LONDON--(BUSINESS WIRE)--The global commercial aircraft passenger service unit (PSU) market is expected to post a CAGR of more than 7% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global commercial aircraft passenger service unit (PSU) market is the development of sleek and attractive PSUs increasing the safety and comfort levels of aircraft. Modern aircraft are being equipped with highly advanced comfort features with airline operators continually working toward enhancing the convenience level of customers. PSUs are the important components of an aircraft that offer an ideal amalgamation of comfort, safety, and service elements. As the industry evolves, OEMs and airline operators prefer sleeker PSUs over conventional, bulky PSUs used earlier in commercial aircraft. The growing preference for sleeker PSUs can be attributed to the increased focus on making aircraft cabins more spacious. As a result, various prominent vendors have redesigned their PSUs and transformed them into sleeker and more attractive components.
As per Technavio, the development of PSUs with the display will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global commercial aircraft passenger service unit (PSU) market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global commercial aircraft passenger service unit (PSU) market: Development of PSUs with display
The design of commercial aircraft PSUs has undergone some changes over the last few years owing to the constant advances in cabin interiors. OEMs are creating passenger-friendly cabin environments by re-designing the fuselage structure and introducing more spacious cabins. Such developments are leading to the adoption of sleeker PSUs in modern commercial aircraft. New PSUs feature a screen display that allows the airlines to convey crucial information to passengers on each row. Apart from providing crucial information such as showing safety videos prior to departure, the screen also displays a moving map during flight. Thus, displays are likely to become integral parts in future PSUs as they have immense potential to enhance passenger convenience.
“Apart from the development of PSUs with the display, factors such as the growing consolidation in the aviation supply chain, and the development of personalized PSUs will have a significant impact on the growth of the commercial aircraft PSU market during the forecast period,” says a senior research analyst at Technavio.
Global commercial aircraft passenger service unit (PSU) market: Segmentation analysis
This market research report segments the global commercial aircraft passenger service unit (PSU) market by application (narrow-body aircraft, wide-body aircraft, and regional aircraft) and geographic regions (North America, Europe, APAC, South America, and MEA)
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The commercial aircraft industry in North America is mature and predominantly supported by the robust aviation base of the US. The recovery of the US economy has helped increase domestic air travel, which has contributed significantly to the adoption of commercial aircraft. The growing investments in both aircraft and aircraft components in North America will support the regional commercial aircraft PSU market during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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