Aircraft Fairings Market Size, Share, Trends & Key Companies Driving Development by 2028
According to a report by Fortune Business Insights™, the aircraft fairing market was valued at USD 1.41 billion in 2020. It’s expected to grow steadily from USD 1.46 billion in 2021 to USD 2.60 billion by 2028, with an annual growth rate of 8.59% between 2021 and 2028. This growth is mainly driven by the important role fairings play in airplanes — they help cover gaps and smooth out surfaces, reducing air resistance (drag) and improving the aircraft’s appearance. On top of that, the rising number of air travelers around the world is expected to further boost demand for aircraft fairings in the coming years.
Know More Information:
https://www.fortunebusinessinsights.com/aircraft-fairings-market-105857
List of Major Key Players Present in the Market:
- 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)
Segments
The aircraft fairing market is divided into different categories based on a few factors.
By type of aircraft, the market includes commercial planes, military aircraft, regional aircraft, and general aviation (like private planes).
By where fairings are used on the aircraft, it includes parts like the fuselage (main body), engine, control surfaces (like wings and tail), radars & antennas, and landing gear.
By material, fairings are usually made from aluminum, composite materials, or metal alloys.
By region, the market is spread across North America, Europe, Asia Pacific, and the rest of the world.
Report Coverage
This report on the aircraft fairing market is designed to give readers a clear and detailed understanding of the industry. It covers important information like the top companies in the market, different types of fairing products, and their main uses. The report also highlights the latest developments happening in the industry and upcoming market trends. Additionally, it explains the key factors that could either help the market grow or create challenges in the future.
Drivers & Restraints
Growing demand for lightweight composite materials in aircraft parts is expected to drive the growth of the aircraft fairing market. Fairings, along with doors and control surfaces, are now being designed using lighter materials to improve performance, especially for planes that need to operate on shorter runways.
The market is also getting a boost from airlines investing in newer, more modern aircraft and the rising popularity of low-cost carriers. Increasing orders for commercial planes and higher defense budgets in developing countries are also adding to the market’s growth.
However, one major challenge holding back the market is the large backlog of pending orders for aircraft fairings, which could slow down growth in the near future.
Regional Insights
North America is expected to lead the aircraft fairing market during the forecast period. This is mainly because the region has a large number of key aircraft manufacturers and a growing use of airplanes for commercial travel. On top of that, North America has big aircraft fleets and large production facilities, which help boost the market further.
Europe will also hold a good share of the market, thanks to the presence of well-known companies and increased investment in research and development.
Meanwhile, the Asia Pacific region is expected to grow rapidly in the coming years, mainly because of the fast-growing aviation industry and rising demand for air travel.
Competitive Landscape
Leading companies in the aircraft fairing market are focusing on product development and partnerships to strengthen their position in the industry. Since the market is highly competitive and spread out, top players are working hard to create advanced aerostructures like fairings, control surfaces, and other key aircraft parts.
For example, in February 2021, Boeing announced it would set up a new production line in Hyderabad, India, to manufacture the complex vertical fin for its 737 MAX aircraft.
Apart from product development, many companies are also expanding their manufacturing capacity, especially in Asia, to meet growing demand. To grow even further, these companies are also using strategies like mergers, acquisitions, and collaborations to increase their global reach and improve their market share.
Key Industry Development
- April 2021: Tawazun Economic Council and Pilatus Aircraft Ltd have signed a 7-year agreement with Strata Manufacturing (Strata). As part of this deal, Pilatus will give Strata three new projects (called work packages) related to the production of their PC-24 aircraft.
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