Aircraft Fairing Market Size, Share & COVID-19 Impact Analysis by Platform (Commercial, Military, Regional, and General Aviation), By Application (Fuselage, Engine, Control Surfaces, Radars and Antenna, and Landing Gear), By Material (Aluminum, Composite, and Alloys), and Regional Forecast, 2021-2028

The global aircraft fairing market size was USD 1.41 billion in 2020. The market is anticipated to grow from USD 1.46 billion in 2021 to USD 2.60 billion in 2028 at a CAGR of 8.59% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market had exhibited a decline of 15.57% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

An aircraft fairing is a structure that reduces drag and produces a smooth outline on the aircraft surfaces, which intends to delay boundary layer separation. Fairing's primary functions are to cover spaces and gaps between aircraft parts to reduce both form drag and interference drag while improving appearance. The pod-like structure under an airplane's wings is a flap track fairing used in every aircraft in different dimensions and shapes. For Instance, Boeing and Airbus aircraft use similar flap fairings, while McDonnell Douglas aircraft, in particular, have unique vertical fairings that house the hydraulic actuators. Aircraft fairings are generally aluminum or composite material to reduce aircraft weight.

Aircraft fairing design and manufacturing is the critical phase of aircraft manufacturing. There are various aerodynamic and weight factors to be considered while designing the its components. This work provides the user with a basic surface of the aircraft fairing details, which can be used for any combination of fuselage and wing. For any designer, the need for an aircraft fairing structure depends on what type of aerodynamic advantage is needed. It depends on the kind of components to be placed inside the fairings. The product demand will increase with new aircraft deliveries and future orders. The aircraft fairing market share is expected to grow at a significant CAGR due to increase in passenger air traffic worldwide.  

COVID-19 IMPACT

Market Players Experienced Revenue Losses During COVID-19 Pandemic

COVID-19 pandemic has severely impacted the aerospace industry. The reduction in travel demand has changed the dynamic of this industry. Passenger air travel has halted due to the need for social distancing. International travel was also restricted to contain its spread.

• There was an overall reduction of international and domestic air passenger traffic, close to 60% in 2020 compared to 2019. This total decline in airline business led to a deep decline in aircraft line maintenance services. The airline sector is expected to be smaller for years to come. It is projected that traffic won’t return to 2019 levels before 2024


• In 2020, International Air Transport Association’s report, the global airline industry experienced revenue losses of approximately USD 84.3 billion. Due to the losses, many airlines canceled new aircraft orders, which led to a decrease in demand for these fairings.

Major players such as Airbus and the Boeing Company reduced aircraft production in 2020. Commercial and military deliveries decreased in 2020 due to order cancellations and lockdown of countries. Aerostructure and fairing manufacturers faced huge revenue drops amid the pandemic.

LATEST TRENDS

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Embracing 3D Printing for Aircraft Components and Parts to Augment Growth

Aerospace 3D printing is the simplest way to fabricate advanced composite and 3D printed metal parts from on-demand MRO and spare parts in commercial aviation to innovation in Urban Air Mobility. The aerospace industry leaders improve responsiveness to rapidly shifting supply chains and labor availability with additive manufacturing. In 2019, the aviation industry contributed approximately 16% of 3D printing’s USD 4.9 billion global revenues. For instance,

• In November 2021, Materialize and Proponent have announced a partnership that will expand the profile of 3D printing in aerospace aftermarket supply chains. Proponent delivers traditional distribution services to airlines, MROs, OEMs, and innovative product portfolio. The company delivers 54 million parts per year to close to 6,000 aerospace clients through its reach in over 100 countries. These companies offer aftermarket parts such as engines, airframe, cabin interiors, and cockpits.

DRIVING FACTORS

Increased Demand for Composite Aerostructures to Boost Market

Weight has always been of primary concern to aero-structures engineers who select high strength to weight ratio materials to meet payload requirements with short runway performance necessities. Any reduction in airframe weight provides relief to energy consumption. The rising demand for lightweight aerostructures such as doors, control surfaces, and fairings across the globe is the key factors responsible for the aircraft fairing market growth during the forecast period. For instance,

• In April 2021, Airbus planned to enhance its aerostructures assembly value chain across its industrial supply chain and focus on the aerostructures assembly prime business. Airbus planned to create two aerostructures assembly companies.

Rising Procurement of Lightweight Aircraft to Boost Market Growth

Rising acquisition of aircraft grew due to better attributes and improved fuel effectiveness. Moreover, with the rising fleet expansion demand and the growth of low-cost carriers, the market has witnessed a surge in commercial aircraft sector, which is supporting the surge in product demand. Moreover, the rising adoption for military trainer and fighter aircraft by various governments to expand defense competency is also likely to aid the market's growth.

• In December 2021, Boeing and 777 Partners received order of additional 30 737 MAX fuel-efficient, single-aisle jets. This new order expected to expand the portfolio of 777 Partners to a total of 68 737 MAXs

RESTRAINING FACTORS

Backlogs in Aircraft Orders May Hinder Market Growth

Accumulated orders with aircraft manufacturers is a major attribute that is accountable for impedances in contracted aircraft dispatches. Other than delayed orders, the impact of the coronavirus in early 2020 was a pivotal restraint for the entire aviation industry as it was afflicted with order cancellations, setbacks in aircraft deliveries, and remarkable losses. These factors triggered in global commercial aircraft deliveries that accounted for 723 aircraft, 42% than 2019 and 55.3% compare to 2018. This decline registered as the second consecutive year that faced a decrease in aircraft deliveries.

• In December 2020, Embraer, a dominant player reported that Embraer Commercial Aviation, registered 75% reduction in aircraft deliverables from 2020 to 2021 comparatively.

SEGMENTATION

By Platform Analysis

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Commercial Segment to Dominate Market in 2020

Based on platform, this market is segmented into commercial, military, regional, and general aviation.

The commercial segment held dominant share in 2020. However, the commercial segment has come a long way in advancements and development. The commercial segment is expected to rule the market during the forecast, owing to the rise in procurement for modern generation aircraft. Modern airplanes are light in weight and have taken passenger comfort as the top priority.

The military aircraft segment is anticipated to grow at the highest CAGR in the near future. The rapid growth of the segment can be attributed to the increasing procurement of multi-role, combat, and transport aircraft. Moreover, high military budgets in developed and developing economies are major factors responsible for segment growth during the forecast period.

By Application Analysis

Advancements in Structural Components to Compel Fuselage Segment to Dominate Market in 2020

Based on application, the market is segmented into fuselage, engine, control surfaces, radars and antenna, and landing gear.

The fuselage segment held the highest market share in 2020 and is expected to perform the same during the forecast with the highest CAGR. This growth is attributed to advancements in structural parts and components with less weight and more efficiency.

The landing gear segment is one of the emerging segments due to adopting a lighter and more robust landing gear. The players involved in the production business are manufacturing strong and more lightweight landing gear without compromising its functions, operations, performance, safety, and maintenance requirements. Thus higher growth numbers are expected during the forecast period.

By Material Analysis

Composite Segment to Rule Market Due to Exceptional Properties

Based on material, the market is segmented into aluminum, composite, and alloys.

The composite segment held the most significant market share in 2020. The rising demand for lightweight and fuel-efficient aerostructures, power plants, and other global systems is one of the major factors responsible for the segment growth during the forecast period. Moreover, the key companies involved in this market derive their significant share of the revenue from selling composite parts and components.

The aluminum segment is estimated to witness sluggish growth. This decline is attributed to the decreased demand for metal aero structures due to its high operating and maintenance cost.

REGIONAL INSIGHTS

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The global market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.

North America stood at USD 540.0 million in 2020. This large share is due to several prominent players such as the Boeing Company and Malibu Aerospace. Additionally, the market growth of in the region is due to the increasing aircraft usage for air travel and cargo operations. Known airline operators and cargo operators such as Delta, American airlines, Fed-x and Ups hold the fleet majority. In addition, the region has vast assembly lines for all sized aircraft for different applications.

The Europe aircraft fairing market will grow moderately due to dominant players and OEMs such as Leonardo Spa, Saab AB, and Airbus. These companies hold a major share in the aero structure market. Thus, higher growth numbers are anticipated in the forthcoming years.

The market in Asia Pacific region will hold a substantial growth rate during the forecast period. Emerging countries, such as China and Japan, are expected to occupy the major market share in this region. The Indian aviation industry is witnessing rapidly expanding commercial aviation sector, and will witness the fastest-growing aerostructures market, including fairings and other control surfaces over the same period.

The market in Middle East & Africa is expected to grow substantially due to the rising demand for general aviation and commercial aircraft due to the region's growing tourism. Moreover, the presence of Strata Manufacturing in the UAE is one of the crucial factors responsible for market growth in future.

KEY INDUSTRY PLAYERS

Key Players Are Focused on Providing Lightweight Aircraft Fairings and Other Structural Parts

The competitive landscape of the market depicts the domination of selected players such as Boeing, Airbus, and Strata Manufacturing. These companies design and develop advanced aerostructures, including fairings, control surfaces, and other structural components. Moreover, these companies are expanding their geographic reach in Asian countries. For instance, in February 2021, Boeing announced that it would be adding a new production line at the Hyderabad facility of its joint venture with the Tata Group, Tata Boeing Aerospace Limited (TBAL), to manufacture complex vertical Fin for 737-max family aircraft.

LIST OF KEY COMPANIES PROFILED:

• Malibu Aerospace (U.S.)


• FACC AG (Austria)


• Daher (France)


• NORDAM (U.S.)


• Airbus (France)


• Boeing (U.S.)


• Avcorp (Canada)


• Barnes Group (U.S.)


• Royal Engineered Composites (U.S.)


• Fiber Dynamics Inc. (U.S.)


• FDC Composites (Canada)


• Kaman Aero systems (U.S.)


• SAAB AB (Sweden)


• Lockheed Martin (U.S.)


• Shin Maywa (Japan)


• Strata Manufacturing (UAE)

KEY INDUSTRY DEVELOPMENTS:

• In December 2021, Airbus, a leading aircraft manufacturer, announced that it completed the final structural assembly of the first test example of the A321 XLR. In the test flight, the engineers will engine for the first time, then the landing gear retraction mechanism and the door fairings, followed by an overall quality inspection of the aircraft.


• In April 2021, Tawazun Economic Council and Swiss-based Pilatus Aircraft Ltd agreed with Strata Manufacturing (Strata). Under the agreement, over seven years, Pilatus will award Strata three additional work packages for the PC-24 – the world’s first Super Versatile Jet: two for autoclave manufacturing, of pylon fairings, bullet fairings, and tail cones.

REPORT COVERAGE

An Infographic Representation of Aircraft Fairings Market

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The market research report provides a detailed analysis of the market and focuses on critical aspects such as leading companies, product types, and leading product applications. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market's growth in recent years.

Report Scope & Segmentation