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Aircraft Fairings Market Size

Report ID: GMI3523
Published Date: Jul 2020
Report Format: PDF

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Aircraft Fairings Market Size

Aircraft Fairings Market size was valued at USD 43.45 million in 2019 and is estimated to exhibit over 3% CAGR from 2020 to 2026. Growing air passengers across the world along with the emergence of low-cost airlines is likely to augment aircraft fairings usage. Major aircraft producers are planning to expand their capacities to meet the airliner’s annual demand for airplanes. For instance, in 2020, Airbus inaugurated its new facility in Alabama (U.S.) to assemble its A220 aircraft platform.

Moreover, increasing penetration of new generation aircraft models around the globe is another factor impelling the industry growth. Although the cost of these models is substantially higher, the advantages associated with fuel economy will support its adoption in the aviation sector. The key aircraft models gaining traction from airliners include, Airbus A220, Airbus A321neo, and Boeing 7373. The increasing need for comfortable and low-cost airlines will enhance the demand for next-generation aircrafts.

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Authors: Suraj Gujar, Partha Paul

Frequently Asked Questions (FAQ) :

The market size of aircraft fairings was exceeded USD 43.45 million in 2019.

The industry share of aircraft fairings is projected to expand at 3% CAGR from 2020 to 2026.

Business aircraft segment held 15% market share in 2019 and will register appreciable growth, driven by rising number of HNIs (High-net-worth Individuals) and surging business aircraft production.

Aircraft wings will account for a considerable industry share on account of the demand for a huge number of fairings on aircraft wings as compared to other parts.

The GFRP (Glass Fiber Reinforced Plastic) segment will gain extensive traction, with a targeted CAGR of 3% through 2026, owing to its strength, cost-effectiveness, light weight, and low maintenance attributes.

These components will depict extensive demand in North America, owing to the presence of a huge number of aircraft manufacturers. North America industry USD 15 million by 2026 with an anticipated CAGR of over 3.6%.

The COVID-19 outbreak has led to a decrease in air passenger traffic, suspension of production units, and manufacturing facility shutdowns, which will restrict the industry growth.