What is the future of Aircraft Fairings Market? Know Covid Impact on Size, Share & Forecasts
June 18, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Fairings Market.
It was estimated prior to this unanticipated outbreak that the Aircraft Fairings Market was likely to witness an impressive CAGR of 9.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. The prime factor that is expected to serve as a catalyst towards the growth of the global aircraft fairings market is the increasing adoption of advanced composite materials in aircraft fairings.
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Aircraft Fairings Market Segment Insights:
By End-User Type:
The aftermarket segment led the market in 2019, and it is estimated to maintain its dominance during the forecast period. Different components of aircraft fairings, such as flight control surface, fuselage, nacelles, wheels, flaps, trailing edge are needed to be replaced during the maintenance measures. Maintenance, Repair, and Overhaul (MRO) services are provided by various companies as a part of the aftermarket support services.
By Application Type:
The fuselage segment accounted for the largest share of the market in 2019, and is expected to maintain its dominance during the forecast period. The fuselage is the core and central body of a fixed-wing aircraft. It delivers space for cargo, controls, accessories, passengers, and other equipment. It comprises bulkheads, frames, floor beams, and stringers. In single-engine aircraft, the fuselage holds the power plant, while, in multi-engine aircraft, the engines may either be fixed to the fuselage, or overhung from the wing structure.
By Region:
North American region accounted for the largest share of the aircraft fairings market in 2019. North America is estimated to be an emerging aircraft fairings market, driven by the high demand for newer aircraft and replacement of aging fleets. Whereas, the Asia-Pacific region is estimated to be the fastest-growing region in the aircraft fairings market in the coming five years. The market is sustained by the rise in the modernization agendas in the Asia-Pacific’s aviation industry, which is contributing to the high acceptance of advanced aircraft fairings. These significant factors are expected to further boost the demand for aircraft fairings in the APAC region. China and India are the growth engines of the region. Europe is also expected to offer substantial growth opportunities during the forecast period.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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