Fairings Market in Aerospace industry is expected to reach an estimated value of US$ 1,523.1 million in 2024. – Stratview Research Market Report

The research studies Aircraft Fairings Market in the trend period of 2013 to 2018 and forecasted period of 2019 to 2024 under five segments - by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large-Body Aircraft, Regional Aircraft, and General Aviation), by Application Type (Wing-to-Body Fairing, Flap Support Fairings, Engine Cowls, Vertical Fin Fairings, and Others), by Material Type (Composite Fairings and Metal Fairings), by Manufacturing Process Type (Prepreg Layup, Stamping, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024

The study finds –
 North America is expected to remain the largest market for the aircraft fairings during the forecast period.
 The market is segmented as composites and metals. Composite is expected to remain the most dominant material type in the market during the forecast period.
 The market is segmented as wing-to-body fairing, flap support fairings, engine cowls, vertical fin fairings, and others.
 The market is segmented based on aircraft type as narrow-body aircraft, wide-body aircraft, very large aircraft, regional aircraft, and general aviation.

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Aircraft Fairings Market: Highlight

As per Stratview Research, the global aircraft fairings market offers attractive growth opportunities in the entire ecosystem of the market and is expected to reach an estimated value of US$ 1,523.1 million in 2024. Increasing production rates of the key commercial aircraft programs, 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 market.

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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 a fairing is to reduce the form and interference drag and smoothen the aircraft surface.

The market is segmented based on 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 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.

Based on the application type, the market is segmented as wing-to-body fairing, flap support fairings, engine cowls, vertical fin fairings, and others. Wing-to-body fairing dominates the market and is projected to remain dominant over the next five years as well. It not only joins wings to the fuselage, but also provides a housing for 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 market during the forecast period. The material type is also projected to witness higher growth in the same period, driven by advantages of high strength-to-weight ratio, excellent corrosion resistance, high fatigue resistance, and lightweight.

Based on 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 aircraft fairing manufacturers are FACC AG, UTC Aerospace Systems, Composite Technology Research Malaysia Sdn Bhd (CTRM), Alenia Aermacchi S.p.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 major players to gain a competitive edge in the market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum input to the entire value chain of BMI Prepreg. The key features of the report are -
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

Stratview follows a rigorous process for conducting business research from primary and secondary sources to understand the entire market ecosystem. It has several high value market reports in the Aerospace & defence industry. Please refer to the following link to browse through the reports:

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

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

This release was published on openPR.