Summary

The aircraft fairing market was valued at USD 1.5 Billion and is expected to grow at a strong CAGR of around 9% during the forecast period due to a growing demand for commercial air travel and the increasing fleet size of airlines. Increasing demand for lightweight aircraft components to improve fuel efficiency and reduce emissions is driving the growth of the aircraft fairings market. Additionally, Technological advancements in the aerospace industry are leading to the development of more efficient and durable fairings, driving demand for newer models. Moreover, the rise of low-cost carriers in emerging economies is increasing demand for aircraft and thus, aircraft components such as fairings.

Recent developments such as the growing use of 3D printing technology to produce aircraft fairings and the increasing adoption of advanced composites in the aerospace industry are expected to further propel market growth. For instance, In December 2021, Boeing and 777 Partners received an order for additional 30 737 MAX fuel-efficient, single-aisle jets.

Some of the major players operating in the market include ShinMaywa Industries, Ltd., Strata Manufacturing PJSC., Malibu Aerospace LLC., FACC, Daher, The NORDAM Group LLC, Airbus, Boeing, Avcorp Industries Inc., and Barnes Group.

Insights Presented in the Report
“Amongst application, the landing gear segment expected to grow at a significant rate in the upcoming forecast period.”
By application, the market is segmented into the fuselage, landing gear, wings, control surfaces, and engine. The landing gear segment is one of the emerging segments due to the adoption of lighter and more robust landing gear. The players involved in the production business are manufacturing strong and lightweight landing gear without compromising its functions, operations, performance, safety, and maintenance requirements. Thus, higher growth numbers are expected during the forecast period.

“Amongst end-users, the military segment is expected to grow at a significant rate in the upcoming forecast period.”
On the basis of end-users, the market is segmented into commercial, military, and general aviation. Among these, the military segment is expected to grow with the highest CAGR in the upcoming forecast period due to various drivers. Firstly, the shift towards increasing procurement of multi-role, combat, and transport aircraft in developing countries like India. Secondly, military budgets in developed and developing economies are major factors responsible for segment growth during the forecast period.

“Asia Pacific is experiencing rapid growth in upcoming forecast Period.”
The Asia-Pacific region is experiencing significant growth in the aircraft fairing market due to several factors. One of the main reasons is the increasing demand for air travel in the region, which has led to the growth of the aviation market. According to the International Air Transport Association (IATA), air travel in Asia-Pacific will be the fastest-growing in the world over the next 20 years. Additionally, the region's governments are investing heavily in the development of airports and aviation infrastructure, further driving the growth of the market. The region is also home to several major aircraft manufacturers and suppliers, which are further supporting the growth of the market.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global aircraft fairing market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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