Aircraft Fairing Market Expected to Surpass USD 2.60 Billion by 2028 | Growing at 8.59% CAGR

The aircraft fairing market size was USD 1.41 billion in 2020. The market is projected to grow from USD 1.46 billion in 2021 to USD 2.60 billion in 2028 at a CAGR of 8.59% during the 2021-2028 period. This vital information is presented by Fortune Business InsightsTM in its report, titled, "Aircraft Fairing Market, 2021-2028". Factors such as covering gaps and spaces to reduce both form drag and interference drag and improving appearance will boost the growth of the market during the forecast period. Additionally, increasing passenger air traffic worldwide will increase the footprint of the market.

The aircraft fairing market plays a crucial role in the overall aerodynamics, efficiency, and structural integrity of an aircraft. Fairings are aerodynamic covers or structures placed over joints and intersections to reduce drag, improve fuel efficiency, and enhance aesthetics. Common applications include wing-to-body fairings, engine cowlings, and landing gear fairings. The market is driven by increasing aircraft production, rising demand for lightweight composite materials, and growing emphasis on fuel economy and performance optimization. Both commercial and military aviation sectors contribute to market growth, with key players focusing on advanced materials and design innovation to meet evolving industry standards.

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● List of Key Players Mentioned in the Aircraft Fairing Market Report:

○ Malibu Aerospace (U.S.)
○ FACC AG (Austria)
○ Daher (France)
○ NORDAM (U.S.)
○ Airbus (France)
○ Boeing (U.S.)
○ Avcorp (Canada)
○ Barnes Group (U.S.)
○ Royal Engineered Composites (U.S.)
○ Fiber Dynamics Inc. (U.S.)
○ FDC Composites (Canada)
○ Kaman Aero systems (U.S.)
○ SAAB AB (Sweden)
○ Lockheed Martin (U.S.)
○ Shin Maywa (Japan)
○ Strata Manufacturing (UAE)

● Report Coverage:
The market report for aircraft fairing aims to provide our readers with a detailed analysis by presenting critical attributes such as leading companies, product types, and leading product applications. Additionally, the report also focuses on the ongoing industry developments & future market trends in order to pack a comprehensive read for our users. The report also contains factors that are expected to impact the market in a positive/negative manner.

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● Segments:
On the basis of platform, the market can be divided into commercial, military, regional, and general aviation.
By application, the market can be broken down into fuselage, engine, control surfaces, radars and antenna, and landing gear.

With respect to material, the market can be segmented into aluminum, composite, and alloys.

In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, and the Rest of the World.

● Drivers & Restraints:
Rising Demand for Composite Aerostructures to Augment Market Growth

Factors such as increasing demand for lightweight aerostructures for doors, control surfaces, & fairings and rising requirements for short runway performance will boost the aircraft fairing market growth during the forecast period. Additionally, the increasing attainment of the modern generation of airplanes and the rising demand for low-cost carriers will increase the footprint of the market. Also, rising orders for commercial aircraft and rising military spending by emerging economies will fuel the market's growth.
However, a severe backlog in orders for aircraft fairings will limit the market growth during the forecast period.

● Competitive Landscape:
Product Development & Collaborations to Bolster Market Position

The market for aircraft fairings is highly fragmented, and dominant players in the market are often found capturing the lion's share. Dominant players are striving to design and develop the latest aerostructures, including fairings, control surfaces, and other structural components. In February 2021, Boeing announced that it would add a new production line for manufacturing the complex vertical Fin of 737-Max family aircraft at their plant in Hyderabad, India. Others are focused on expanding their production capabilities, mostly in the region of Asia. Players are also focused on expanding their reach by employing strategic integration, such as mergers & acquisitions & various collaborations.

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● Key Industry Development:
April 2021: Tawazun Economic Council and Pilatus Aircraft Ltd agreed on an agreement with Strata Manufacturing (Strata) for a period of 7 years. Under the agreement, Pilatus will provide Strata with three additional work packages for the PC-24.

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This release was published on openPR.