Aerospace Fairings Market
This report, from Stratview Research, studies the global fairings market in the aerospace industry over the trend period from 2013 to 2018 and the forecast period from 2019 to 2024. 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 Global Aircraft Fairings Market: Highlights
The global aircraft fairings market offers attractive growth opportunities in the entire ecosystem of the market. The market for aircraft fairings is expected to reach an estimated value of US$ 1,523.1 million in 2024. Increasing production rates of the key commercial aircraft programs, the introduction of variants of the best-selling aircraft programs, market entry of players, increasing demand for lightweight fairings, and rising global aircraft fleet size are the major drivers of the global aircraft fairings market.
There are many areas in an aircraft where fairings are used, such as wing-to-body fairing, flap track fairings, engine cowls, fillet fairing, vertical fin fairings, wheel well fairing, and strut-to-wing fairing. The primary function of an aircraft fairing is to reduce the form and interference drag and smoothen the aircraft surface.
The global aircraft fairings market is segmented based on the aircraft type as narrow-body aircraft, wide-body aircraft, very large aircraft, regional aircraft, and general aviation. Wide- and narrow-body aircraft are likely to remain the growth engines of the aircraft fairings market, propelled by increasing aircraft deliveries to support rising passenger and cargo traffic, upcoming variant of existing programs, and rising commercial aircraft fleet size. Boeing anticipated that approximately 42,730 commercial and regional aircraft will be delivered during 2018-2037 in which narrow- and wide-body aircraft would remain dominant during the period.
Based on the application type, the market is segmented as the wing-to-body fairing, flap support fairings, engine cowls, vertical fin fairings, and others. Wing-to-body fairing dominates the global aircraft fairings market and is projected to remain dominant over the next five years. Wing-to-body fairing not only joints wings to the fuselage but also provides a housing for the landing gear, fuel, and various inlets and exhausts.
The engine cowls segment is likely to witness the highest growth over the next five years, propelled by the development of high-thrust engines with a high focus on improving fuel efficiency. Engine cowls are one of the major components of the aircraft engine and nacelle system. They reduce parasitic drag by reducing the surface area and provide a smooth surface, thus, leading to laminar flow.
Based on the material type, the market is segmented as composites and metals. Composite is expected to remain the most dominant material type in the global aircraft fairings market during the forecast period. This material type is also projected to witness the higher growth during the forecast period, driven by advantages of high strength-to-weight ratio, excellent corrosion resistance, high fatigue resistance, and lightweight.
Based on the regions, North America is expected to remain the largest market for the aircraft fairings during the forecast period as the region is the manufacturing capital of the aerospace industry with the presence of several large- to small-sized OEMs, tier players, fairing and nacelle component manufacturers, distributors, and raw material suppliers. Asia-Pacific is expected to grow at the highest rate over the next five years, owing to upcoming commercial and regional aircraft and the world’s largest commercial aircraft fleet size.
The supply chain of this market comprises raw materials suppliers, fairing manufacturers, distributors, aircraft OEMs, airline companies, aircraft leasing companies, and MRO companies. The key aerospace OEMs are Boeing, Airbus, Bombardier, Embraer, ATR, and Mitsubishi Heavy Industries and key airline companies are Lufthansa, Delta Air, Air China, and Singapore Airlines.
The key fairing manufacturers are FACC AG, UTC Aerospace Systems, Composite Technology Research Malaysia Sdn Bhd (CTRM), Alenia Aermacchi S.p.A. (a part of Leonardo S.p.A.), Spirit AeroSystems GmbH, Korean Air Aerospace Division, Triumph Group, Inc., Boeing Canada Winnipeg, and ShinMaywa Industries Ltd. Advancements in technology and the formation of long-term contracts are some of the key strategies adopted by the key players to gain a competitive edge in the market.
This report offers high-quality insights and is 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. More than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The aircraft fairings market is segmented into the following categories:
Aircraft Fairings Market by Aircraft Type:
Aircraft Fairings Market by Application Type:
Aircraft Fairings Market by Material Type:
Aircraft Fairings Market by Manufacturing Process:
Aircraft Fairings Market by Region:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
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