Grow Forecast At A CAGR Of 9.7% Over the Next Five Years

A new research report on the global aerospace winglets market by aircraft type forecasts that the market offers a healthy growth opportunity of 9.7% CAGR during the forecast period of 2017 to 2022 and reach an estimated $559 million in 2022. The author of the report stated that increasing production rate of commercial and regional aircraft, certification of winglets as a standard equipment in the variants of the best-selling aircraft, such as B737 Max and A320neo family, increasing adoption rate of winglets by airlines in both the new as well as retrofit installations, winglet technology advancement, and increasing fleet size are the key drivers of the global aerospace winglets market.

This 202-pages strategic report, from Stratview Research, studies the winglets market in the global aerospace industry over the period 2011 to 2022. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The research's findings suggest that narrow-body aircraft is likely to remain the largest and the fastest-growing segment of the global aerospace winglets market during the forecast period of 2017 - 2022. B737 and A320 along with their recently launched variants would remain the growth engines of the winglets market in the narrow-body aerospace industry over the next five years.

In terms of winglet type, blended winglet dominates the global aerospace winglets market, propelled by its certification in Boeing's best-selling aircraft program B737, however, advanced technology winglet is projected to witness the highest growth during the forecast period of 2017 - 2022. Blended winglets offer 3% to 5% increase in fuel efficiency as compared to the aircraft without the winglets.

As per the study, North America is projected to remain the largest market for winglets during the forecast period, driven by the presence of assembly plants of Boeing and Bombardier. The region is also manufacturing capital of the aerospace industry with the presence of major composite part fabricators and raw material suppliers. Asia-Pacific is the fastest-growing winglets market over the next five years, driven by upcoming commercial and regional aircraft with winglets as an option and high commercial aircraft fleet size.

The key winglet manufacturers are FACC AG, Korean Air Aerospace Division, RUAG Aerostructures, GKN Aerospace, Winglet Technology LLC, and BLR Aerospace LLC. New product development, collaboration with OEMs, and formation of long-term contracts with OEMs are the key strategies adopted by the key players to gain a competitive edge in the market.

(Source: Stratview Research news release. Image from file)

FMI: www.stratviewresearch.com