Dublin, Aug. 20, 2018 (GLOBE NEWSWIRE) -- The "Aircraft Fairings Market by Application (Flight Control Surface, Fuselage, Engine, Nose, Cockpit, Wings, and Landing Gear), Material (Composite, Metallic, and Alloy), End User (OEM and Aftermarket), Platform, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The aircraft fairings market is projected to grow from an estimated USD 1.49 billion in 2018 to USD 2.13 billion by 2023, at a CAGR of 7.38% from 2018 to 2023.
The factor that is expected to act as a major driver is the growing use of advanced composite materials in aircraft fairings. This, in turn, is expected to drive the growth of the aircraft fairings market during the forecast period from 2018 to 2023. The aircraft fairings market has been segmented based on application, material, platform, end user, and region.
Based on the application, the aircraft fairings market has been segmented into flight control surface, fuselage, wings, nose, landing gear, and other. The fuselage segment is estimated to be the largest in the aircraft fairings market in 2018. The fuselage is the main and central body of a fixed-wing aircraft. It provides space for cargo, controls, accessories, passengers, and other equipment. It includes bulkheads, frames, floor beams, and stringers. In single-engine aircraft, the fuselage houses the power plant, whereas, in multi-engine aircraft, the engines may either be attached to the fuselage, or suspended from the wing structure.
Based on the end-user, the aircraft fairings market has been segmented into OEM and aftermarket. The aftermarket segment is expected to lead the aircraft fairings market in 2018. Various components of aircraft fairings, such as fuselage, flight control surface, nacelles, wheels, flaps, trailing edge are required to be replaced during maintenance procedures. Maintenance, Repair, and Overhaul (MRO) services are offered by companies as part of aftermarket support services.
The aircraft fairings market has been studied for North America, Europe, Asia Pacific, and Rest of the World (RoW). The North America region is estimated to account for largest share of the aircraft fairings market in 2018. North America is expected to be a leading aircraft fairings market, due to the high demand for newer aircraft and replacement of aging fleets.
Whereas, Asia Pacific region is expected to be the fastest-growing region in aircraft fairings market during the forecast period. This is due to the increase in modernization programs in the Asia Pacific aviation industry, which is leading to the high adoption of advanced aircraft fairings. These factors are anticipated to further propel the demand for aircraft fairingss in the APAC region. Some of the global key players operating in the aircraft fairings market in the Asia Pacific region are ShinMaywa (Japan) and Verdant (India).
The significant investment required for the development of different types of aircraft fairings is a major factor restraining the growth of the aircraft fairings market across the globe. High investments are required at different stages of the value chain of the aircraft fairings industry (especially in R&D, manufacturing, system integration, and assembly stages).
Products offered by various companies operating in the aircraft fairings market have been listed in the report. The recent developments section of the report provides information on the strategies adopted by various companies between November 2011 and October 2018 to strengthen their positions in the aircraft fairings market.
Major players in the aircraft fairings market are ShinMaywa (Japan), Strata Manufacturing (UAE), Malibu Aerospace (US), FACC AG (Austria), Daher (France) NORDAM (US), Airbus (France), Boeing (US), Avcorp (Canada), and Barnes Group (US) among others, and the innovators of different types of aircraft fairings, such as Royal Engineered Composites (US), Fibre Dynamics Inc. (US), FDC Composites (Canada), and Kaman Aerosystems (US), among others. These companies have significant geographic reach and distribution channels.
Drivers
Growing Use of Advanced Composite Materials in Aircraft Fairings
Composite materials have become an important component in the construction of aircraft structures. Aircraft parts, such as fairings, spoilers, and flight controls, are made of composite materials for reduced weight. The primary advantages of composite materials include their high strength, relatively low weight, and corrosion resistance. General aviation (GA) has had a long history with composites in flight-control surfaces and some empennage skins, as well as aerodynamic fairings around the wings and stabilizers. These applications represent 6 to 20 percent of an aircraft's airframe.
Increasing Number of Aircraft Deliveries
There has been an increase in air passenger traffic which, in turn, leads to demand for new aircraft deliveries. According to CAPA - Centre for Aviation, the commercial aircraft fleet increased by 4% in 2017 as compared to 2016, globally. The global commercial aircraft fleet in service is expected to grow by 81% to 49,940 aircraft in 2035. The growth of the global commercial aircraft fleet is attributed to the high passenger growth rate of around 5% in the Asia Pacific region.
Growing Adoption of UAVs in Commercial & Military Applications
UAVs are increasingly used in various commercial and military applications, such as agriculture, real estate, mining, photography, oil & gas, product delivery, greenhouse emission monitoring, and wildlife research & preservation. The agricultural industry has been the largest end user of UAVs. UAVs have revolutionized the precision farming to offer several applications, such as crop health & irrigation equipment monitoring and weed identification, among others.
Opportunities
Reduction in the Cost of Composite Materials
An aircraft fairing helps improve aircraft performance by eliminating weight penalty. And the usage of composite materials in aircraft fairing helps reduce the cost of aircraft structure manufacturing. The cost of composite materials has been high ever since their introduction over 30 years ago. However, the rapid commercialization of these materials in the aviation industry in recent years has reduced their cost. An increase in the adoption of composites directly affects the cost of components made of composite materials.
Adoption of 3D Printing in Aircraft Fairing Manufacturing
Technological advancements in the field of aircraft fairing have led to the introduction of digital manufacturing, which is sourcing advanced 3D printers to help manufacture aircraft structural components, such as nacelles, pylons, flight control surfaces, empennages, wings, fuselage parts, and other small spares. 3D printing helps reduce the cycle time of the manufacturing process. Additionally, complex aircraft fairing parts can be easily manufactured using the 3D printing technology. This technology can be used to a great extent by aircraft fairing manufacturers for composite materials.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Aircraft Fairing Market, 2018-2023
4.2 Aircraft Fairing Market, By Application
4.3 Aircraft Fairing Market, By End User
4.4 Aircraft Fairing Market, By Platform
4.5 Aircraft Fairing Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Drivers
5.3.1 Growing Use of Advanced Composite Materials in Aircraft Fairings
5.3.2 Increasing Number of Aircraft Deliveries
5.3.3 Growing Adoption of UAVS in Commercial & Military Applications
5.4 Opportunities
5.4.1 Reduction in the Cost of Composite Materials
5.4.2 Adoption of 3D Printing in Aircraft Fairing Manufacturing
5.5 Challenges
5.5.1 Recyclability Issue of Composite Materials
5.5.2 Complex Design of Aircraft Fairings Leading to Maintenance Difficulties
6 Industry Trends
6.1 Introduction
6.2 Development of Aircraft Fairing By Top Manufacturers
6.3 Aircraft Fairing Material Evolution
6.4 Technology Trends
6.4.1 Plasma Fairing Technology to Reduce Aircraft Landing Gear Noise
6.4.2 3-D Printing
6.4.3 Smart Aircraft Structure
6.5 Material Trends
6.5.1 Advanced Composite Materials
6.5.2 Metal Materials
6.5.2.1 Metallic Materials
6.5.2.1.1 Alloy
6.5.2.1.2 Aluminum
6.5.2.1.3 Magnesium
6.5.2.1.4 Titanium
6.5.2.2 Non-Metallic Materials
6.5.2.2.1 Transparent Plastic
6.5.2.2.2 Reinforced Plastic
6.6 Regulatory Landscape
6.7 Component Design
6.7.1 Airline Operation and Maintainability
6.7.1.1 Durability
6.7.1.2 Reparability
6.7.2 Manufacturing
6.7.2.1 Raw Material
6.7.2.2 Reproducibility
6.8 Patent Listings, 2011
7 Aircraft Fairing Market, By End User
7.1 Introduction
7.2 Original Equipment Manufacturer (OEM)
7.3 Aftermarket
8 Aircraft Fairing Market, By Material
8.1 Introduction
8.2 Composite Material
8.2.1 Glass Fiber
8.2.2 Quartz
8.2.3 Others
8.3 Metallic Material
8.3.1 Aluminum
8.3.2 Titanium
8.3.3 Others
8.4 Alloy
9 Aircraft Fairing Market, By Application
9.1 Introduction
9.2 Flight Control Surface
9.3 Fuselage
9.4 Nose
9.5 Engine
9.6 Landing Gear
9.7 Wings
9.8 Cockpit
10 Aircraft Fairing Market, By Platform
10.1 Introduction
10.2 Commercial
10.2.1 Narrow Body Aircraft (NBA)
10.2.2 Regional Transport Aircraft (RTA)
10.2.3 Very Large Aircraft (VLA)
10.2.4 Wide Body Aircraft (WBA)
10.2.5 Business Jet
10.3 Military
10.3.1 Fighter Aircraft
10.3.2 Military Transport
10.4 General Aviation
11 Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.3 Europe
11.3.1 France
11.3.2 Germany
11.3.3 Italy
11.3.4 Russia
11.3.5 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 Rest of Asia Pacific
11.5 Rest of the World
11.5.1 Latin America
11.5.2 Africa
12 Competitive Landscape
12.1 Introduction
12.2 Market Ranking Analysis
12.3 Competitive Scenario
12.3.1 Contracts
12.3.2 Agreements/Partnerships
13 Company Profiles
13.1 Shinmaywa
13.2 Strata Manufacturing
13.3 Malibu Aerospace
13.4 FACC AG
13.5 Daher
13.6 Nordam
13.7 Airbus
13.8 Boeing
13.9 Avcorp
13.10 Barnes Group
13.11 AAR Corporation
13.12 Royal Engineered Composites
13.13 Fiber Dynamics, Inc.
13.14 Innovators
13.14.1 FDC Composites
13.14.2 Mcfarlane Aviation
13.14.3 Kaman Aerosystems
13.14.4 Arnprior Aerospace Inc.
13.14.5 CTRM Aero Composites
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