Aircraft Fairings Market size is expected to exceed USD 42.5 million by 2026, according to a new research report by Global Market Insights Inc.
The advancements in aircraft design along with growing need for fuel efficient aircrafts will drive aircraft fairings industry growth. The aircraft fairings assist in achieving superior operational efficiency coupled with low fuel consumption. The structure reduces airflow separation and smoothens out the potential drag by covering panel gaps and spaces. Moreover, the utilization of composite structures will support the industry proliferation.
Engine segment will witness significant growth during 2020 to 2026 owing to constant improvement in design to improve structural strength for operation during stressful conditions. Aerodynamic fairings are accompanied with engine nacelles and are identified as an important part of the engine housing. Fairing components such as fillets act as drag reducers, inherently providing more control & stability to the aircraft. Improvements in engine fairing technology to incorporate dynamic movements in some portions are expected to accelerate the component adoption.
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Browse key industry insights spread across 205 pages with 204 market data tables & 20 figures & charts from the report, “Aircraft Fairings Market Size By Aircraft (Commercial [Narrow-body, Widebody], Regional, Business, Military, Helicopters), By Application (Wing, Fuselage, Empennage, Landing Gear, Engine), By Material (Carbon Fiber Reinforced Plastics [CFRP], Glass Fiber Reinforced Plastics [GFRP], Metals & Alloys), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Expanding narrow-body aircraft fleet will augment the segment penetration
Narrow-body aircraft fairings market revenue is predicted to cross USD 16 million by 2026. Emerging and developed regions are showcasing a strong demand for commercial aircrafts to enhance regional air connectivity. Growing number of airports and rising short-haul air connectivity options will lead to an increased demand for narrow-body aircraft. Growth in short-distance travel & low fare airlines is set to drive fairings demand. According to Boeing, 78% of new aircraft deliveries in Europe in the next 20 years will be of low-cost, narrow-body, and single-aisle aircraft.
Carbon Fiber Reinforced Plastics (CFRP) will account for significant share in aircraft fairings market size. CFRP are increasingly used in manufacturing fairings owing to several favorable material properties. The material possesses high stiffness and strength, thus suitable for fairing applications as fairings experience high turbulence and challenging environments. The other properties of the material, such as corrosion resistance, low coefficient of thermal expansion, and thermal & electrical conductivity, have promoted the use of the material for aircraft fairings. Lightweight characteristics of the material enable manufacturers to incorporate fairings to enhance aerodynamics.
Supportive government initiatives to drive industry growth in Europe
Europe holds significant share and will witness around 2.9% CAGR through 2026 owing to well established aircraft manufacturing base and supportive initiatives from the regional government. Government initiatives and supportive programs to reduce fuel emissions are supporting aircraft fairings industry size.
The development of innovative products by major aircraft manufacturers in the region in compliance with safety regulations to increase the overall efficiency will drive regional growth. The industry is moderately consolidated and is mainly served by OEM manufacturers. The rising R&D investments by key players will propel aircraft fairings market growth. For instance, FACC AG is focused on investing in research & development activities in the aviation industry for lightweight structures.