The Aircraft Fairings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aircraft Fairings Global Market Report 2024, The aircraft fairings market size has grown strongly in recent years. It will grow from $1.82 billion in 2023 to $1.98 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to dairy industry growth, rotation crop benefits, rise of hay export market, biofuel and energy production, demand for organic feed..
The aircraft fairings market size is expected to see strong growth in the next few years. It will grow to $2.67 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to sustainable agriculture practices, expansion of livestock industries, research and breeding programs, demand for high-quality forage, water-saving agriculture.. Major trends in the forecast period include adoption of improved varieties, precision agriculture technologies, drought-resistant varieties, innovations in harvesting and storage, organic alfalfa production, biofuel and bioprocessing..
The increased demand for aircraft is expected to drive the aircraft fairing market going forward. An aircraft has a fixed-wing aircraft that is designed to be flown for traveling through the air. These aircraft typically come in various forms and are used for multiple purposes. The use of aircraft fairings in lightweight aircraft can provide several advantages, such as producing a smooth outline and reducing drag, which can improve the aerodynamics of the aircraft and can lead to greater fuel efficiency and lower costs for the aerospace industry. For instance, in January 2023, Airbus, a France-based aerospace company, served 84 clients with 661 deliveries, an increase of 8% over 2021. Further, In March 2023, Lufthansa Group, a German-based airline company, agreed on a deal with Airbus to add 10 Airbus A350-1000s and 5 Airbus A350-900s to its fleet. Therefore, the increased demand for aircraft is expected to propel the growth of the aircraft fairing market.
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The aircraft fairings market covered in this report is segmented –
1) By Material: Aluminum, Composite, Alloys
2) By Application: Fuselage, Engine, Control Surfaces, Radars And Antennas, Landing Gear
3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket Services
4) By End-User: Commercial, Military, General Aviation
Product innovation is a key trend gaining popularity in the aircraft fairing market. Major companies operating in the aircraft fairing market are focused on developing innovative products to strengthen their position and gain a competitive advantage. For instance, in June 2022, Aero Design Labs, a US-based company operating in aircraft fairings, launched an aerodynamic drag-reduction system kit for the Boeing 737NG named ADL ADRS-1 kit. The product has unique features such as revised fairings, modified flap track fairing tips, updated wheel-well fairings, and vortex generators to reduce fuel consumption and CO2 emissions.
The aircraft fairings market report table of contents includes:
1. Executive Summary
2. Aircraft Fairings Market Characteristics
3. Aircraft Fairings Market Trends And Strategies
4. Aircraft Fairings Market - Macro Economic Scenario
5. Global Aircraft Fairings Market Size and Growth
6. Aircraft Fairings Market Segmentation
7. Aircraft Fairings Market Regional And Country Analysis
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27. Aircraft Fairings Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aircraft Fairings Market
29. Aircraft Fairings Market Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Avcorp Industries Inc.
- FACC AG
- Royal Engineered Composites
- ShinMaywa Industries Ltd.
- Airbus SE
- Barnes Group Inc.
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The global aircraft fairings market size is expected to reach USD 1,713.1 million by 2026 according to a new study by Polaris Market Research.
The implementation and functional characteristics play a critical role in design, certification and operational aspects of all narrow-body, wide-body, very large, regional and general aviation.
The complexity of aerospace fairings depends on several parameters including the type of jet, design, fairing application areas, and number of fairings.
Companies such as Composite Technology Research Malaysia (CTRM Aerocomposites Sdn Bhd), FACC AG, Finmeccanica-Alenia Aermacchi S.p.A., KAMAN CORPORATION, Korean Air Aerospace Division, Malibu Aerospace LLC, Royal Engineered Composites, ShinMaywa Industries Ltd., Spirit AeroSystems Inc., Strata Manufacturing (a Mubadala Investment Company), Triumph Group, Collins Aerospace (UTC Aerospace Systems) are some of the key players operating in this market.
Rise in global airplanes fleet size, rising demand to streamline aerodynamic structure of jets to boost speed & accuracy, growing global commercial aircraft & general aviation deliveries, introduction of new generation carriers and increasing trend of lightweight components in order to reduce overall weight & increase the fuel efficiency by reducing operational costs, are some of the major factors acting as key drivers of this market.
This is owing to increasing production and rising demand of wide-body airliner such as A320, B787, B737 and others.
