Aircraft Fairings Market Analysis

Aircraft Fairings Market Analysis

Business aircraft segment accounted for around 15% aircraft fairings market share in 2019. The increasing number of High-net-worth Individuals (HNIs) along with rising production of business aircraft is expected to drive the segment penetration. Additionally, growing usage of composite materials to produce lighter aircraft will further influence the product usage.

Aircraft wings will hold significant market share in the coming years owing to the requirement for a considerably larger number of fairings on the wings compared to any other parts. For instance, the Airbus A320 model has three flap track fairings attached to each side of a wing. Flap track fairings and wingtip fairings are commonly attached to aircraft wings, in order to reduce interference, drag.

The Glass Fiber Reinforced Plastic (GFRP) material segment will witness around 3% growth rate through 2026 impelled by cost-effectiveness of the material over other composites. GFRP is a high strength, lightweight, and low maintenance material, which is a key reason behind its adoption in the aircraft sector. Rising usage of lightweight materials in the aerospace sector is projected to boost the GFRP segment penetration.
 

The North America aircraft fairings market is poised to exceed USD 15 million by 2026 with a CAGR of over 3.6% during 2020-2026 propelled by the presence of many aircraft manufacturers including Airbus, Boeing, Bombardier, Embraer, etc., along with their well-established production facilities for aircrafts. Additionally, the growing demand for air travel coupled with a rising number of airlines in the U.S. is likely to stimulate aircraft deliveries and drive the revenue generation.