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

Aircraft Fairings Market Size
Aircraft Fairings Market size was worth USD 43.45 million in 2019 and is anticipated to have more than 3% CAGR during the forecast period of 2020-2026.

Increasing air travelers throughout the globe together with the introduction of low-cost carriers is likely to increase the use of aircraft fairings. Leading aircraft manufacturers are set to increase capacities to supply the airliner’s yearly demand for airplanes. For example, in 2020, Airbus opened its new plant in Alabama (U.S.) to produce its A220 aircraft platform.

In addition, rising penetration of next-generation aircraft models across the world is another driver propelling the industry growth. Even though the price of these models is much higher, the benefits related to fuel efficiency will drive its uptake in the aviation industry. The most important aircraft models that are gaining popularity from airliners are, Airbus A220, Airbus A321neo, and Boeing 7373. The growing demand for low-cost and comfortable airlines will increase the demand for next-generation aircrafts.

COVID-19 Impact
The market of aircraft fairings is expanding notably, but difficulties related to the current covid-19 pandemic will hinder its entry into global aerospace industry. Interim closure of manufacturing units, international air travel restrictions along with lockdowns declared by the governments will limit the market growth in the short run.

Aircraft Fairings Market Report Attributes
Report Attribute Details
Base Year 2019
Aircraft Fairings Market Size in 2019 USD 43.45 Million
Forecast Period 2020 to 2026
Forecast Period 2020 to 2026 CAGR 3.1%
2026 Value Projection USD 42.93 Million
Historical Data for 2016 to 2019
No. of Pages 205
Tables, Charts & Figures 224
Segments covered Aircraft, Application, Material, Region
Growth Drivers
Increased production of narrow-body aircrafts globally
Increased demand for air travel demand globally
Increased penetration of new generation and light weight aircraft
Availability of large number of aircraft manufacturers in the U.S.
Pitfalls & Challenges
Negative effect of coronavirus pandemic on aircraft industry as a whole
What are the market growth opportunities?

Aircraft Fairings Market Analysis
Business aircraft segment held approximately 15% aircraft fairings market share in 2019. Growing number of High-net-worth Individuals (HNIs) and increasing production of business aircraft are anticipated to propel the segment penetration. Furthermore, increasing application of composite materials to manufacture lighter aircraft will also impact the product usage.

Airplane wings will retain considerable market share in the future due to the need for a much larger quantity of fairings on the wings than on any other component. For example, the Airbus A320 aircraft model has three flap track fairings on each side of a wing. Flap track fairings and wingtip fairings are typically mounted on airplane wings, to minimize interference, drag.

Find out more about the most important segments driving this market

Glass Fiber Reinforced Plastic (GFRP) material segment will grow at a 3% rate up to 2026 driven by the material being cost-effective compared to other composites. GFRP is a material with high strength, low maintenance, and is light in weight, which makes it a critical factor for being adopted in aircraft industries. Growing use of lightweight materials in aerospace applications is set to drive penetration in the GFRP segment.

Find out more about the most important segments driving this market

The North America aircraft fairings market is projected to surpass USD 15 million by 2026 with an over 3.6% CAGR forecast from 2020-2026 driven by the availability of numerous aircraft production units such as Airbus, Boeing, Bombardier, Embraer, etc., supported by their large-scale production establishments for aircraft. The increasing preference for air travels combined with increased numbers of air carriers in the U.S. is expected to fuel aircraft delivery and spur revenue generation.

Aircraft Fairings Market Share

Aircraft fairings industry players are establishing contracts with aircraft manufacturers for the installation and maintenance of fairings. Other strategies used by manufacturers include production capacity expansion, new product developments, and strategic partnerships.

Aircraft fairings marketplace is moderately concentrated with top players accounting for a considerable share. Some of the key manufacturers includes

• ShinMaywa
• FACC
• Malibu Aerospace
• NORDOM
• STRATA Manufacturing