What’s driving the Aircraft Fairings Market Size?| Key Players are Daher, Boeing, Airbus S.A.S., Barnes Group, Avcorp Industries Inc., Strata Manufacturing, Malibu Aerospace, NORDAM, SAAB, and Royal Engineered Composites
Aircraft Fairings Market size is expected to showcase significant growth over the forecast timeframe owing to requirement for protecting the underline structures and aircraft components from adverse environmental conditions. The improvements in aerodynamic properties coupled with reduction in aircraft drag are further expanding the market size over the study timeframe. Rising aircraft production along with stringent regulatory policies pertaining to aircraft components to maintain airworthiness are expected to further boost the aircraft fairings market share.
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Advancements in manufacturing including the increasing adoption of additive manufacturing technologies in aircraft fairing components offering cost-effective solutions to manufacturers are significantly boosting the aircraft fairings market revenue over the study timeframe. The 3D printed technology enables industry participants to reduce the manufacturing cycling time. In addition, the aircraft manufacturers along with additive manufacturers are using 3D printing technologies to produce prototypes used in wind tunnel testing.
Based on application, the aircraft fairings market is segmented into engine, fuselage, cockpit, nose, and landing gear. Fuselage will account for a significant share owing to the major portion of the aircraft designed to accommodate passenger, crew, and cargo. Moreover, industry players are engaged in securing long term contracts with aircraft manufacturers to expand their market share. For instance, in June 2017, FACC AG announced the extension of its C-Series wing to body composite fairing contract with Bombardier.
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Based on aircraft, the aircraft fairings market size is segmented into commercial aircrafts, regional jets, business jets, helicopter, and military aircraft. The commercial aircraft is expected to hold dominance in the industry owing to increasing aircraft deliveries across the globe. Airliners globally are ordering new aircrafts for catering to the rising air consumer demand. For instance, in June 2019, American Airlines announced the order of 50 new A321XLR models for replacing its 757 and 767 aircraft fleet.
Based on material the aircraft fairings market is segmented into composite, metal, and alloy. Composites will account for a significant share owing to the benefits offered including lower weight, higher corrosion resistance, and ability to withstand high temperatures. Moreover, the complex geometry structures of the materials enable for superior durability, thereby expanding the segment share over the study timeframe.
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The prominent industry participants in the aircraft fairings market share includes Daher, Boeing, Airbus S.A.S., Barnes Group, Avcorp Industries Inc., Strata Manufacturing, Malibu Aerospace, NORDAM, SAAB, and Royal Engineered Composites. The other players include Kaman AeroSystem, ShinMaywa, Fiber Dynamics, UTC Aerospace System, and AAR Corp. Industry players are adopting multiple strategies including long term contracts with aircraft manufacturers to enhance their revenue share. For instance, in 2018, Strata was awarded a contract by Pilatus for manufacturing belly fairings for the PC-24 aircrafts.
Asia Pacific will showcase strong growth potential in the aircraft fairings market share owing to rising air passenger travel across the region. The increasing demand for low cost carriers along with the expanding network routes offering low fares flights to varied destinations are expected to positively influence the regional share expansion. The improving airport infrastructure along with proliferating tourism industry are providing a positive outlook for the market share expansion.
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