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Aerospace Fairings Market By Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2019 – 2025| Key Players FACC AG, Boeing Canada Winnipeg, UTC Aerospace Systems, CTRM Aerocomposites
Aerospace Fairings Market
The global middle class is expected to double by 2034 in emerging economies. The rise in disposable income is supporting spending power which is likely to elevate the tourism industry. Presently there are 346 new airport developments going on worldwide out of which over 50% are in Asia Pacific. This has paved an opportunistic way for aerospace industry which will positively impact the demand for more aircrafts over the coming years.
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Based on manufacturing process, aerospace fairings market can be segmented into stamping, prepreg layup process, and other techniques. Prepreg layup process is expected to showcase an exponential growth till 2024 owing to its high usage in aerospace industry as it uses prepreg which induces high fiber volume fraction composite parts and has ability to manufacture simple to complex parts.
By aircrafts, aerospace fairings market can be segmented into wide-body aircraft, narrow-body aircraft, regional aircraft, very large aircraft and general aviation. Narrow and wide body aircraft are anticipated to drive the market over the next eight years owing to rise in footfall of passengers and increasing cargo traffic that elevates the demand for commercial aircrafts across the globe.
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Aerospace Fairings Market is forecast to possess attractive growth opportunities over the coming years. Modernization & innovations in aircrafts coupled with emergence of new entrants will drive the industry growth. Rising demand of light-weight fairings along with increasing commercial aircrafts production due to rising passenger footfall and cargo traffic will further propel the industry growth till 2024. Fairings contribute significantly to the aerodynamics and is used to protect systems and structures from unfavorable external environmental factors, escalating the revenue generation.
Based on application, aerospace fairings market is divided into flap support fairing, wing to body fairing, vertical fin fairing, engine cowls and others. Engine cowl segment is anticipated to grow at a significant rate over the forecast timeframe as it is one of the major part of aircrafts engine & nacelles system that focuses on improving the fuel efficiency of high thrust engines.
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North America is expected to witness significant growth in the aerospace fairings market over the next eight years as the region possesses largest operating fleet followed by Asia pacific. North America is manufacturing capital of the aerospace industry with favorable regulatory landscape. Moreover, the presence of several established original equipment manufacturers (OEMs), fairing & nacelles component manufacturers, raw materials suppliers and distributors will support the regional growth.
FACC AG, Boeing Canada Winnipeg, UTC Aerospace Systems, CTRM Aerocomposites. Korean Air Aerospace Division, Alenia Aermacchi are some of the major players involved in manufacturing of fairings. Long term contracts and technological advancements are the among the major strategies implemented by the industry players to excel in the market. For instance, in August 2017, FACC signed a major contract valued at over 500 million Euros with Airbus. Shinmaywa industries, Triumph Group and Mitsubishi Heavy Industries are some of the other player involved in aerospace fairings market.
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