According to the research report titled ‘Aircraft Fairings Market Size By Aircraft, By Application, By Material (Carbon Fiber Reinforced Plastics [CFRP], Glass Fiber Reinforced Plastics [GFRP], Metals & Alloys), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report, global aircraft fairings market is expected to register an appreciable growth rate through 2026.
 

As per the findings of the research, increasing cross-border trade and rising defense budgets are expected to augment the growth of global aircraft fairings market over the forecast period. Further, rise in business travel and growing tourism worldwide are augmenting the overall market revenue.  
 

Although the ongoing COVID-19 pandemic has badly hit the aviation sector, aircraft fairings industry is likely to witness growth due to increase in demand for maintenance, repair, and overhaul activities to keep their fleets airworthy as air travel demand slowly rejuvenates.
 

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Base on aircraft, global aircraft fairings market is classified into regional jets, commercial jets, business jets, helicopters, and military. The regional jets segment is estimated to record a CAGR of 2.7% over the forecast timeframe on account of increase in the number of regional and low-cost airlines.
 

Business jets segment is projected to expand with 2.7% CAGR in the upcoming years on account of rapidly growing economy and shifting focus towards luxury travel particularly in developed economies..
 

Meanwhile, helicopters segment is anticipated to record a yearly growth rate of 1.4% given the flexibility of helicopters favoring their demand for business travel and among regional airlines, resulting in a rise in sales of fairings.
 

Military segment will also gain considerable traction in the forthcoming years driven by growing focus of major economies towards increasing military expenditure and expanding their aircraft fleets. Moreover, growing demand for aircraft fairings from the military of developed nations like US and China is boosting the segmental share.
 

Elaborating on material, global aircraft fairings market is categorized into CFRP, GFRP, metal & alloys, and others. The others segment comprising of materials like aramid fiber based composites, and hybrid composites will see modest growth due to rising demand for lightweight and fuel efficient aircrafts.
 

Speaking of the application spectrum, global aircraft fairings market is fragmented into wings, fuselage, engine, empennage, and landing gear. Among these, last segment will see growth, fueled by increasing demand for wheel based fairings to dampen sound during landing. On the other hand, empennage segment is slated to record a CAGR of 3% which can be credited to growing need for reduced drag and enhanced wingtail efficiency.
 

As per the regional analysis, LATAM aircraft fairings market will experience remunerative growth in the coming years owing to flourishing economy and increasing domestic tourism. Meanwhile, MEA aircraft fairings market is anticipated to exhibit a strong CAGR over the projected timeline, attributable to improving living standards and positive economic growth.
 

Prominent industry players include are Avcorp Industries Inc., Daher, The NORDAM Group, Inc., Malibu Aerospace LLC, Fairings-Etc., Maple Leaf Aviation Ltd., STRATA Manufacturing PJSC, The Groupe Latécoère, ShinMaywa Co. Ltd., and FACC AG.