Global Fairing Market Overview:
Fairing, a structure that is made up of metal or plastic structure whose primary function is to produce a smooth outline and reduce drag. This structure added to increase the streamlining on aircraft, high-performance car, motorbike, boat among others. Of late, the aerospace companies are focusing on the development of smart wing concepts. This design will reduce aircraft drag by 10 percent by reducing the wing drag by 25 percent using laminarity. This, in turn, the growth in the demand of smart wing using advanced materials will offer a lucrative opportunity for the fairing market growth in the upcoming years.
As per latest study released by AMA Research, the Global Fairing market is expected to see growth rate of 8.3%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Growth in the Adoption of UAVs in Commercial & Military Applications
Market Growth Drivers:
Growing Use of Advanced Composite Materials in Aircraft Fairings and Increasing Production and Sales of Automobile and Rising Number of Aircraft Deliveries Globally
Challenges:
Issue Related with Recyclability of Composite Materials
Restraints:
High Maintenance Cost of Aircraft Fairing Due to Complex Design
Opportunities:
Reduction in the Cost of Composite Materials and Rising Adoption of 3D Printing in Automotive and Aircraft Fairing Manufacturing
Competitive Landscape:
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market
Some of the key players profiled in the report are ShinMaywa (Japan), Strata Manufacturing (United Arab Emirates), Malibu Aerospace (United States), FACC AG (Austria), Daher (France), NORDAM (United States), Airbus (France), Boeing (United States), Avcorp (Canada), Barnes Group (United States), Royal Engineered Composites (United States), Fiber Dynamics Inc. (United States), FDC Composites (Canada) and Kaman Aerosystems (United States). Additionally, following companies can also be profiled that are part of our coverage like Avior Integrated Products Inc. (Canada), Magna International Inc. (Canada), Continental AG (Germany) and Aisin Seiki Co. (Japan). Analyst at AMA Research see United States Vendors to retain maximum share of Global Fairing market by 2030. Considering Market by Sales Channel, the sub-segment i.e. OEMs will boost the Fairing market. Considering Market by Material Type, the sub-segment i.e. Composites will boost the Fairing market.
Latest Market Insights:
On July 18, 2023, Triumph Group introduced its new TriVantage™ fairing, a hybrid metal-composite fairing designed for improved performance and durability. This successful launch will help Triumph Group maintain its position in the market.
On June 21, 2023, Airbus and Safran signed a Memorandum of Understanding to collaborate on the development of more sustainable aircraft fairing materials. This collaboration will help Airbus and Safran maintain their position in the market.
What Can be Explored with the Fairing Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Fairing Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Fairing
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Fairing market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Fairing market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Fairings Manufacturers, Fairings Parts Supplier, Distributors, Retailers, Distributors, and Wholesalers of Fairings, Technology Providers, Automotive Companies, Aerospace Components Manufacturers, System Integrators, Government Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.