Market Trends of Aircraft Fairings Industry
The Commercial Aviation Segment to Hold the Largest Market Share During the Forecast Period
The commercial aircraft fairings market is set for robust growth, led by a surge in the commercial segment. With expanding economies and rising disposable incomes, more individuals are choosing air travel, driving the demand for new aircraft. Notably, there has been a clear trend toward enhancing regional connectivity, resulting in a spike in orders for smaller regional jets that heavily rely on fairings, thus further boosting the demand for commercial aircraft fairings.
Furthermore, the growing international air transport networks, driven by globalization in trade and tourism, amplify the need for commercial aircraft. Emerging economies experiencing rapid urbanization and industrialization are witnessing a surge in air travel, particularly among their expanding middle-income demographics. This rise in air passenger traffic necessitates more aircraft operations, escalating the demand for aircraft fairings. Consequently, vendors are scaling up their manufacturing capacities to meet the rising demand from commercial aviation operators, highlighting the dominance of this segment in the aircraft fairings market.
As the demand for commercial aircraft climbs, production rates also rise, pressuring supply chain players to enhance their capabilities. Notably, manufacturers of the A320 and B737, both historically top-selling commercial aircraft, have seen steady growth in recent years. For instance, Airbus is increasing the production rate of its A320 family to 60 units per month.
Owing to these factors, companies like FACC AG, Patria Aerostructures, Teledyne CML Composites, Ducommun Aerostructures, Avcorp Industries Inc., and CTRM, crucial players in the fairings' supply chain for these models, are under mounting pressure to boost their production levels. In a notable move, in July 2022, Deutsche Aircraft and Aciturri selected Aciturri Aerostructures as a supplier of specific composite technologies for the D328eco aircraft. The agreement tasks Aciturri with manufacturing fairings, landing gear doors, and flight control movables using a blend of composite and metallic technologies. Additionally, Aciturri will manage the assembly of these components for integration in the final assembly line.
Asia-Pacific to Showcase Remarkable Market Growth During the Forecast Period
The primary drivers of market growth are the rising deliveries of commercial aircraft and regional nations' heightened procurement of military planes. The International Air Transport Association (IATA) predicts that by 2030, Asia's air travel will surpass that of North America and Europe, making it the largest market.
Given the region's surging passenger traffic, airlines must acquire new aircraft to meet the escalating demand. Moreover, countries in the Asia-Pacific are significantly bolstering their military aircraft fleets. For example, in February 2023, Chinese aircraft manufacturer COMAC inked a deal with Tibet Airlines. The agreement entailed the delivery of 40 C919 and 10 ARJ21 aircraft, strategically positioning COMAC in Asia-Pacific and boosting the regional aircraft fairings market.