Global Aircraft Fairings Market is estimated to be valued at USD 2,630 Million by 2026, registering a CAGR of 7.31% from 2020 to 2026.
Rapidly increasing aircraft deliveries and the rising adoption of 3D printing in aircraft fairing manufacturing has contributed significantly to the expansion of the aircraft fairings market. Furthermore, increasing collaborations between prominent companies are also expected to drive the growth of the market. For example, in May 2018, Strata Manufacturing collaborated with Pilatus Aircraft Ltd. to manufacture belly fairings for the PC-24 twin-engine business jet.
However, issues related to the recyclability of composite materials and complex maintenance procedures might hamper the growth of the market. Moreover, the ongoing COVID-19 pandemic is also expected to affect market growth. Increasing travel restrictions and the halt in manufacturing activities might compel small companies to close down operations. However, increasing initiatives undertaken by governments of countries such as the US, China, and others to reduce the impact of the lockdowns on the aviation industry is expected to impact the growth of the market positively.
Free Sample Report @ https://www.marketresearchfuture.com/sample_request/10154
The introduction of various technologies such as the plasma fairings technology for noise reduction in landing gear, advanced composite materials for aircraft fairings, and resin transfer molding technology for aircraft fairings in the aviation industry is expected to contribute to the growth of the market.
Growth Opportunities in the Market
The OEM Segment to Register the Higher Growth Rate: The OEM segment is expected to register the higher CAGR during the forecast period, 2020 to 2026. Increasing demand for reliable and customized aircraft fairings is expected to drive the growth of the segment.
The Fuselage Segment Expected to Be the Fastest-Growing: The fuselage segment is expected to register the highest CAGR during the forecast period, 2020 to 2026. The fuselage is the main and central body part of fixed-wing aircraft and provides space for cargo, controls, passengers, accessories, and other equipment. It consists of bulkheads, floor beams, frames, and stringers. The fuselage houses the power plant in single-engine aircraft, whereas the engines may be attached to the fuselage or suspended from the wings in multi-engine aircraft.
The Commercial Segment Expected to Register the Higher CAGR: The commercial segment witnessed strong growth over the past few years, which can be attributed to factors such as increasing air travel, rising disposable income levels of the middle-class population, and growing international trade & tourism across the globe. Strong growth in this sector has resulted in increasing the number of aircraft orders to address the rising air passenger traffic. Manufacturers are currently focused on aircraft fairings that are more reliable, accurate, and efficient.
The Composite Segment Expected to Register the Highest CAGR: The composite segment is projected to record the highest CAGR during the forecasted period, 2020 to 2026. Composite materials have become an integral part of aircraft manufacturing. Aircraft parts, including fairings, spoilers, and flight controls, are made from composite materials for reducing weight. The key advantages of composite materials include their high strength, relatively low weight, and corrosion resistance. For instance, the Airbus A380 uses thermoplastic composites on the leading edges and in the fuselage frame for structural clips and brackets.