Aerospace Winglets Market Worth US$ 558.9 million in 2022

Stratview Research has published a new research report on Aerospace Winglets Market. This extensive 202-page report by Stratview Research analyses the growth of Aerospace Winglets Market over the trend period of 2011 to 2016 and forecast period of 2017 to 2022 under the following segments -
• by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, and Others)
• by Platform Type (B737, B747, B777, and Others)
• by Winglet Type (Advanced Technology Winglets, and Others)
● by Curing Type (Autoclave, Out of Autoclave, and Others)
● and by Region (North America, Europe, Asia-Pacific, and RoW)

Go through the detailed scope: https://www.stratviewresearch.com/toc/149/aerospace-winglets-market.html

Or

Get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/149/aerospace-winglets-market.html

Increasing production rate of commercial and regional aircraft

The 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 aerospace winglets market.

High pressure on the lower surface creates a natural airflow

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.

Narrow-body aircraft to remain the largest and the fastest-growing segment of the market

The 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 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.

Blended winglet dominates the aerospace winglets market

Based on winglet type, the 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 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 to remain the largest market

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.

Top market players

The supply chain of this market comprises raw material manufacturers, winglet manufacturers, aerospace OEMs, and airline companies. The raw material manufacturers are Rio Tinto, Toray Industries, Hexcel, The Gill Corporation, and Cytec. The key aerospace OEMs are Boeing, Airbus, Comac, Bombardier, Embraer, Cessna, and Gulfstream. The key winglet manufacturers are FACC AG, Korean Air Aerospace Division, RUAG Aerostructures, GKN Aerospace, Winglet Technology LLC, and BLR Aerospace LLC. 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.

Why Stratview Research

Our 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 on 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:
● Aerospace Winglets Market overview, industry life cycle analysis, supply chain analysis
● Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
● Market trend (2011 – 2016) and forecast analysis (2017-2022) of each segment.
● Competitors’ market share, product portfolio and new launches.
● Growth opportunities in each segment.
● Emerging trends which will decide the future course of development.
● Strategic growth opportunities for the existing and new players
● Key success factors.

Click Here for Other Reports from Stratview Research in the Aerospace & Defence Industry: https://www.stratviewresearch.com/market/report/Aerospace-Defense.html

Stratview Research is a global market intelligence firm offering a wide range of services including syndicated market reports, consulting, sourcing intelligence, and customer research.

400 Renaissance Center,
Suite 2600,
Detroit, Michigan, MI 48243
United States of America
Phone No. +1-313-307-4176
Email-sales@stratviewresearch.com

This release was published on openPR.