DUBLIN--(BUSINESS WIRE)--The "Aircraft Fairings Market by Aircraft Type, by Application Type, by Material Type, by Manufacturing Process Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024" report has been added to ResearchAndMarkets.com's offering.
This report studies the global fairings market in the aerospace industry over the trend period from 2013 to 2018 and the forecast period from 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Market Highlights
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 the 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 aircraft fleet size are the major drivers of the market.
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. The primary function of a fairing is to reduce the form and interference drag and smoothen the aircraft surface.
The market is segmented based on aircraft type as narrow-body aircraft, wide-body aircraft, very large aircraft, regional aircraft, and general aviation. Wide- and narrow-body aircraft are likely to remain the 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, the market is segmented as wing-to-body fairing, flap support fairings, engine cowls, vertical fin fairings, and others. 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 to the fuselage, but also provides a housing for landing gear, fuel, and various inlets and exhausts.
The 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. Engine cowls are one of the major components of the aircraft engine and nacelle system. They reduce parasitic drag by reducing the surface area and provide a smooth surface, thus, leading to laminar flow.
Based on the material type, the market is segmented as composites and metals. 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 in the same period, driven by advantages of high strength-to-weight ratio, excellent corrosion resistance, high fatigue resistance, and lightweight.
Based on regions, North America is expected to remain the largest market for the 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. 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 supply chain of this market comprises raw materials suppliers, fairing manufacturers, distributors, aircraft OEMs, airline companies, aircraft leasing companies, and MRO companies. The key aerospace OEMs are Boeing, Airbus, Bombardier, Embraer, ATR, and Mitsubishi Heavy Industries and key airline companies are Lufthansa, Delta Air, Air China, and Singapore Airlines.
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 the formation of long-term contracts are some of the key strategies adopted by the major players to gain a competitive edge in the market.
Topics Covered
1. Executive Summary
2. Aircraft Fairings Market - Overview and Market Forces
2.1. Introduction
2.2. Market Classification
2.3. Market Drivers
2.4. Market Constraints
2.5. Supply Chain Analysis
2.6. PEST Analysis: Impact Assessment of Changing Business Environment
2.7. Industry Life Cycle Analysis
2.8. Porter's Five Forces Analysis
2.9. SWOT Analysis
3. Aircraft Fairings Market Analysis - By Aircraft Type
3.1. Strategic Insights
3.2. Narrow-Body Aircraft Fairings Market Trend and Forecast (US$ Million)
3.3. Wide-Body Aircraft Fairings Market Trend and Forecast (US$ Million)
3.4. Very Large Aircraft Fairings Market Trend and Forecast (US$ Million)
3.5. Regional Aircraft Fairings Market Trend and Forecast (US$ Million)
3.6. General Aviation Fairings Market Trend and Forecast (US$ Million)
4. Aircraft Fairings Market Analysis - By Application Type
4.1. Strategic Insights
4.2. Wing-to-Body Fairing Market Trend and Forecast (US$ Million)
4.3. Flap Support Fairings Market Trend and Forecast (US$ Million)
4.4. Engine Cowls Market Trend and Forecast (US$ Million)
4.5. Vertical Fin Fairings Market Trend and Forecast (US$ Million)
4.6. Other Fairings Market Trend and Forecast (US$ Million)
5. Aircraft Fairings Market Analysis - By Material Type
5.1. Strategic Insights
5.2. Composites Fairings Market Trend and Forecast (US$ Million)
5.3. Metal Fairings Market Trend and Forecast (US$ Million)
6. Aircraft Fairings Market Analysis - By Manufacturing Process Type
6.1. Strategic Insights
6.2. Prepreg Layup-based Fairings Market Trend and Forecast (US$ Million)
6.3. Stamping-based Fairings Market Trend and Forecast (US$ Million)
6.4. Other Processes-based Fairings Market Trend and Forecast (US$ Million)
7. Aircraft Fairings Market Analysis - By Region
7.1. Strategic Insights
7.2. North American Aircraft Fairings Market Analysis
7.3. European Aircraft Fairings Market Analysis
7.4. Asia-Pacific's Aircraft Fairings Market Analysis
7.5. Rest of the World's (RoW) Aircraft Fairings Market Analysis
8. Competitive Analysis
8.1. Strategic Insights
8.2. Presence by Aircraft Type
8.3. Presence by Application Type
8.4. Presence by Material Type
8.5. Presence by Process Type
8.6. Geographical Presence
8.7. Market Share Analysis
9. Strategic Growth Opportunities
9.1. Strategic Insights
9.2. Market Attractive Analysis
9.3. Growth Matrix Analysis
9.4. Emerging Trends
9.5. Key Success Factors
10. Company Profile of Key Players
10.1. Boeing Canada Winnipeg
10.2. CTRM Aero Composites Sdn. Bhd.
10.3. FACC AG
10.4. Korean Air Aerospace Division
10.5. Leonardo S.p.A. (Alenia Aermacchi S.p.A)
10.6. ShinMaywa Industries Ltd.
10.7. Spirit AeroSystems Inc.
10.8. Strata Manufacturing PJSC
10.9. Triumph Group Inc.
10.10. UTC Aerospace Systems
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