The Aircraft Fairings Market: Highlights
The Aircraft fairings market offers attractive growth opportunities in the entire ecosystem of the market. The market for aircraft fairings is expected to reach an estimated value of US$ 1,430.6 million in 2023. Increasing production rates of key commercial aircraft programs, the introduction of variants of the best-selling aircraft programs, market entry of players, increasing demand for lightweight fairings, and rising Aircraft fleet size are the major drivers of the Aircraft fairings 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 an aircraft fairing is to reduce the form and interference drag and smoothen the aircraft surface.
Aircraft Fairings Market - Insights by Aircraft Type
The Aircraft fairings 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 aircraft fairings 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 during the period.
Aircraft Fairings Market - Insights by Application Type
Based on the application type, the Aircraft fairings market is segmented as the wing-to-body fairing, flap support fairings, engine cowls, vertical fin fairings, and others. Wing-to-body fairing dominates the Aircraft fairings market and is projected to remain dominant over the next five years. Wing-to-body fairing not only joints wings to the fuselage but also provides a housing for the 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 the high focus on improving the 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.
Aircraft Fairings Market - Insights by Material Type
Based on the material type, the Aircraft fairings market is segmented as composites and metals. Composite is expected to remain the most dominant material type in the Aircraft fairings market during the forecast period. This material type is also projected to witness the highest growth during the forecast period, driven by advantages of high strength-to-weight ratio, excellent corrosion resistance, high fatigue resistance, and lightweight.
Aircraft Fairings Market - Insights by Region
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. 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 manufacturers, nacelle component manufacturers, distributors, and raw material suppliers.
The supply chain of this market comprises raw materials suppliers, fairing manufacturers, distributors, aircraft OEMs, and airline 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.