DETROIT, January 23, 2019
DETROIT, January 23, 2019 /PRNewswire/ --
Stratview Research announces the launch of a new research report on Aircraft Fairings Market 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.
This 250-page strategic report, from Stratview Research, studies the fairings market in the global aircraft industry over the trend period of 2013 to 2018 and forecast period of 2019 to 2024. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Aircraft Fairings Market: Highlights
The primary function of a fairing is to reduce the form and interference drag and smoothen the aircraft surface. 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.
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 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 fleet size are the major drivers of the market.
The research's findings suggest that wide- and narrow-body aircraft are likely to remain 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, 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 with the fuselage, but also provides a housing for landing gear, fuel, and various inlets and exhausts. However, 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.
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 (as against meta) in the same period, driven by advantages of high strength-to-weight ratio, excellent corrosion resistance, high fatigue resistance, and lightweight.
As per the study, North America is expected to remain the largest market for 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. However, 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 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 formation of long-term contracts are some of the key strategies adopted by the major players to gain a competitive edge in the market.
This 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:
This report studies the fairings market in the global aerospace industry and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the five ways in which the market is segmented:
Aircraft Fairings Market by Aircraft Type:
Aircraft Fairings Market by Application Type:
Aircraft Fairings Market by Material Type:
Aircraft Fairings Market by Manufacturing Process:
Aircraft Fairings Market by Region:
Stratview Research has number of high value market reports in the global aerospace & defense industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Aerospace & Defense Industry
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