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Aerospace Winglets Market Report
Aerospace Winglets Market is Segmented by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, and General Aviation), by Platform Type (B737, B747, B777, B787, A320 Family, A330/A340, A350XWB, A380, B737 Max, B777x, A320neo, E 175, C Series, and Others), by Winglet Type ...
Impact of COVID-19 on Aerospace Winglets Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The global aerospace winglets market was valued at US$ 297.0 million in 2016 and is expected to grow at a CAGR of 9.7% over the next five years to reach US$ 558.9 million in 2022. Increasing production rate of commercial and regional aircraft, certification of winglets as a standard equipment in the variants of the best-selling aircraft, such as B737 Max and A320neo family, increasing adoption rate of winglets by airlines in both the new as well as retrofit installations, winglet technology advancement, and increasing fleet size are the key drivers of the global aerospace winglets market.
Winglets reduce wingtip vortices, the twin whirlwinds formed by the difference between the pressure on the upper surface of an aircraft's wing and that on the lower surface. High pressure on the lower surface creates a natural airflow that makes its way to the wingtip and curls upward around it. When flow around the wingtips streams out behind the airplane, a vortex is formed. This represents an energy loss and is strong enough to flip the aircraft. Overall, winglets are a proven way to reduce drag, enhance fuel efficiency, reduce CO2 and NOx emissions, and reduce community noise. The addition of winglets can also be used to increase the payload or range capabilities of the aircraft apart from reducing the fuel consumption.
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The global aerospace winglets market is segmented based on aircraft type as narrow-body aircraft, wide-body aircraft, very large aircraft, regional aircraft, and general aviation. Narrow-body aircraft is likely to remain the largest and the fastest-growing segment of the global aerospace winglets market during the forecast period of 2017 - 2022. B737 and A320 along with their recently launched variants would remain the growth engines of the winglets market in the narrow-body aerospace industry over the next five years.
Based on winglet type, the global aerospace winglets market is segmented as blended winglets, sharklets, split scimitar winglets, raked wingtips, advanced technology winglets, wingtip fences, elliptical winglets, and others. Blended winglet dominates the global aerospace winglets market, propelled by its certification in Boeing's best-selling aircraft program B737. Blended winglets offer 3% to 5% increase in fuel efficiency as compared to the aircraft without the winglets. Advanced technology winglet is projected to witness the highest growth during the forecast period of 2017 - 2022.
North America is projected to remain the largest market for winglets during the forecast period, driven by the presence of assembly plants of Boeing and Bombardier. The region is also manufacturing capital of the aerospace industry with the presence of major composite part fabricators and raw material suppliers. Asia-Pacific is the fastest-growing winglets market over the next five years, driven by upcoming commercial and regional aircraft with winglets as an option and high commercial aircraft fleet size.
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Research Scope |
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|---|---|
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Trend & Forecast Period |
2011-2022 |
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Forecast |
9.7% CAGR During 2017-2022 |
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Size in 2022 |
US$ 558.9 million |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The global aerospace winglets market is segmented into the following categories.
The supply chain of this market comprises raw material manufacturers, winglet manufacturers, aerospace OEMs, and airline companies.
The raw material manufacturers are-
The key aerospace OEMs are-
The key winglet manufacturers are-
New product development, collaboration with OEMs, and formation of long-term contracts with OEMs are the key strategies adopted by the key players to gain a competitive edge in the market.
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
This report, from Stratview Research, studies the global aerospace winglets market over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com
The aerospace winglets market size is expected to reach US$ 558.9 million in the foreseeable future.
FACC AG, Korean Air Aerospace Division, RUAG Aerostructures, GKN Aerospace, Winglet Technology LLC, and BLR Aerospace LLC are among the key players in the aerospace winglets market.
North America is expected to remain the largest aerospace winglets market during the next five years.
Asia-pacific is expected to be the fastest growing aerospace winglets market in the coming five years.
Narrow-body aircraft is expected to remain the largest aerospace winglets market over the forecast years.
Increasing production rate of commercial and regional aircraft, certification of winglets as a standard equipment in the variants of the best-selling aircraft, increasing adoption rate of winglets by airlines in both the new as well as retrofit installations, winglet technology advancement are the factors driving the growth of aerospace winglets market.
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