Honda announced recently a new airbag system for motorcycle as shown Here. The airbag will however only installed on high end motorcycle with large cc but it is one important step taken to increase the safety of the motorcyclist.
Remember that airbags are only featured in high car some 10 years ago. Even the Audi that I drove then has only one air bag. Today, most continental car are installed with 6 air bags and some even has 10 air bags in them. Car that we drive these days are much safer and surely motorcycle is moving in similar direction.