Aircraft Fairings Market

Global Aircraft Fairings Market Size (2024 to 2029)

The size of the global aircraft fairings market is expected to be worth USD 1.90 billion in 2024 and grow at a CAGR of 7.50% from 2024 to 2029 to achieve USD 2.73 billion by 2029.

Aircraft fairing is a device that reduces resistance and creates a smooth contour. This device covers the space between the parts of the aircraft, which reduces foam and interference dragging and improves appearance. It is also used to enhance the presence of the plane and cover the space between the parts. There are several types of fairings used for different parts of the aircraft, such as flap track, cockpit, etc. The main factor that is expected to be a catalyst for the growth of the aircraft fairing market is the increasing adoption of advanced composite materials in aircraft.

Global Aircraft Fairings Market Drivers:

Increasing usage of composite materials in aircraft is a crucial factor in the growth of the aircraft fairing market. The use of composite materials reduces weight, increases the fuel efficiency of the plane and also reduces maintenance and repair costs. The growing demand for low-fuel airplanes is another factor that supports the growth of the market. The rapid growth of the aviation industry and the increasing demand for commercial airplanes due to the increase in tourism are some of the other essential factors that drive the growth of the target market. In addition, the increasing adoption of unmanned Arial vehicles for military and commercial applications is another critical factor that is expected to boost the growth of the aircraft fairing market significantly. Moreover, the increasing use of 3D printing production of aircraft fairing parts can create high-income opportunities for players in the target markets.

Global Aircraft Fairings Market Restraints:

However, the composite materials used in the aviation sector are not recycled correctly. This factor may affect product adoption, limiting the growth of the aircraft fairing market. 

REPORT COVERAGE: 

This research report on the global aircraft fairings market has been segmented and sub-segmented based on application, end users, and region. 

Global Aircraft Fairings Market - By Application: 

• Flight control surfaces
• Fuselage
• Wings
• Nose
• Cockpit
• Landing gear

The fuselage segment is estimated to be the largest contributor to the aircraft fairing market in 2018. The fuselage is the primary and central body of fixed-wing aircraft, providing space for cargo, accessories, passengers, and other equipment. In a single-engine plane, the fuselage houses the power plant, while in multi-engine aircraft, the engine can be connected to the fuselage or suspended from the wing structure.

Global Aircraft Fairings Market - By End Users:

• OEM
• Secondary market

The aftermarket sector is foreseen to lead the aircraft fairing market in 2018. During maintenance procedures, several components of the aircraft fairing, such as the fuselage, flight control surfaces, wheels, fins, and back edges, must be replaced. Several companies provide MRO services (maintenance, repair, and overhaul) as part of the after-sales support service.

Global Aircraft Fairings Market - By Region:

• North America 
• Europe 
• The Asia Pacific 
• Latin America 
• The Middle East and Africa 

By region, the North American aircraft fairing market accounted for most of the business in 2023. North America is estimated to be a growing market due to the high demand for new aircraft and the replacement of old aircraft. The Asia-Pacific aircraft fairing market, on the other hand, is estimated to be the fastest-growing region in the next five years. The market continues to grow as the modernization agenda of the Asia Pacific aviation industry increases, contributing to the high acceptance of advanced aircraft fairings. These factors are likely to further increase the demand for aircraft fairing in the APAC region. China and India are the engines of growth in this area. Europe's aircraft fairing market is also predicted to offer significant growth opportunities during the forecast period.

KEY MARKET PLAYERS:

Key players in the aircraft fairing market include Avcorp, Airbus SE, AAR Corporation, Composites Technology Research Malaysia, The Boeing Company, Fiber Dynamics Inc., Arnprior Aerospace Inc., Barnes Group, Daher, CTRM Aero Composites, and FACC AG

RECENT HAPPENINGS IN THE MARKET:

• In 2016, Solvay and Boeing announced an extension of their high-performance structural adhesive and composite contracts for 2021.
• India has a total of 62 Airbus Defense and Space C295 Medium Transport Aircraft (IATs) for the Indian Air Force (IAF) and the Indian Coast Guard (ICG), which will be delivered in the coming years.
• In June 2017, FACC AG signed a $ 110 million contract with Bombardier to produce a wing-to-body fairing for the new family of Bombardier Aerospace CSeries regional aircraft.
• Strata Manufacturing partnered with Pilatus Aircraft Ltd. in May 2018 to manufacture Belly Fairings for PC-24 twin-engine commercial aircraft.
• In January 2017, Strata Manufacturing partnered with Siemens to develop 3D printing technology for aircraft fairing parts, helping airlines improve their designs, including the manufacture of complex parts.