Aircraft Fairings Market - Evolving Industry Trends and key Insights by 2023

(IT-NEWSWIRE.COM, March 09, 2020 ) The aircraft fairings market was valued at USD 1.47 billion in 2017 and projected to reach USD 2.13 billion by 2023, at a CAGR of 7.38% during the forecast period.

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Based on the application, the aircraft fairings market has been segmented into flight control surface, fuselage, wings, nose, landing gear, and other. The fuselage segment is estimated to be the largest in the aircraft fairings market in 2018. The fuselage is the main and central body of a fixed-wing aircraft. It provides space for cargo, controls, accessories, passengers, and other equipment. It includes bulkheads, frames, floor beams, and stringers. In single-engine aircraft, the fuselage houses the power plant, whereas, in multi-engine aircraft, the engines may either be attached to the fuselage, or suspended from the wing structure.

Based on the end user, the aircraft fairings market has been segmented into OEM and aftermarket. The aftermarket segment is expected to lead the aircraft fairings market in 2018. Various components of aircraft fairings, such as fuselage, flight control surface, nacelles, wheels, flaps, trailing edge are required to be replaced during maintenance procedures. Maintenance, Repair, and Overhaul (MRO) services are offered by companies as part of aftermarket support services.

The aircraft fairings market has been studied for North America, Europe, Asia Pacific, and Rest of the World (RoW). The North America region is estimated to account for largest share of the aircraft fairings market in 2018. North America is expected to be a leading aircraft fairings market, due to the high demand for newer aircraft and replacement of aging fleets.

Whereas, Asia Pacific region is expected to be the fastest-growing region in aircraft fairings market during the forecast period. This is due to the increase in modernization programs in the Asia Pacific aviation industry, which is leading to the high adoption of advanced aircraft fairings. These factors are anticipated to further propel the demand for aircraft fairingss in the APAC region. Some of the global key players operating in the aircraft fairings market in the Asia Pacific region are ShinMaywa (Japan) and Verdant (India).

The significant investment required for the development of different types of aircraft fairings is a major factor restraining the growth of the aircraft fairings market across the globe. High investments are required at different stages of the value chain of the aircraft fairings industry (especially in R&D, manufacturing, system integration, and assembly stages).

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Products offered by various companies operating in the aircraft fairings market have been listed in the report. The recent developments section of the report provides information on the strategies adopted by various companies between November 2011 and October 2018 to strengthen their positions in the aircraft fairings market. Major players in the aircraft fairings market are ShinMaywa (Japan), Strata Manufacturing (UAE), Malibu Aerospace (US), FACC AG (Austria), Daher (France) NORDAM (US), Airbus (France), Boeing (US), Avcorp (Canada), and Barnes Group (US) among others, and the innovators of different types of aircraft fairings, such as Royal Engineered Composites (US), Fibre Dynamics Inc. (US), FDC Composites (Canada), and Kaman Aerosystems (US), among others. These companies have significant geographic reach and distribution channels.

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Aircraft Fairings Market - Evolving Industry Trends and key Insights by 2023