Global Aerospace Winglets Market by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, and General Aviation), by Platform Type (B737, B747, B777, B787, A320 Family, A330/A340, A350XWB, A380, B737 Max, B777x, A320neo, E 175, C Series, and Others), by Winglet Type (Blended Winglets, Sharklets, Raked Wingtips, Split Scimitar Winglets, Wingtip Fences, Advanced Technology Winglets, Elliptical Winglets, and Others), by Manufacturing Process (Hand Layup Process, Automated Process, and Others), and by Region (North America, Europe, Asia-Pacific, and RoW), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022
New York, NY -- (SBWIRE) -- 06/23/2017 -- Global Aerospace Winglets Industry
Latest Report on Aerospace Winglets Market Global Analysis & 2022 Forecast Research Study
This report, from Stratview Research, studies the global aerospace winglets market over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Aerospace Winglets Market: Highlights
The global aerospace winglets market was valued at US$ 297.0 million in 2016 and is expected to grow at a CAGR of 9.7% over the next five years to reach US$ 558.9 million in 2022. 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.
Aerospace Winglet Market Research Report
Winglets reduce wingtip vortices, the twin whirlwinds formed by the difference between the pressure on the upper surface of an aircraft's wing and that on the lower surface. High pressure on the lower surface creates a natural airflow that makes its way to the wingtip and curls upward around it. When flow around the wingtips streams out behind the airplane, a vortex is formed. This represents an energy loss and is strong enough to flip the aircraft. Overall, winglets are a proven way to reduce drag, enhance fuel efficiency, reduce CO2 and NOx emissions, and reduce community noise. The addition of winglets can also be used to increase the payload or range capabilities of the aircraft apart from reducing the fuel consumption.
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The global aerospace winglets market is segmented based on aircraft type as narrow-body aircraft, wide-body aircraft, very large aircraft, regional aircraft, and general aviation. 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.
Based on winglet type, the global aerospace winglets market is segmented as blended winglets, sharklets, split scimitar winglets, raked wingtips, advanced technology winglets, wingtip fences, elliptical winglets, and others. Blended winglet dominate the global aerospace winglets market, propelled by its certification in Boeing's best-selling aircraft program B737. Blended winglets offer 3% to 5% increase in fuel efficiency as compared to the aircraft without the winglets. Advanced technology winglet is projected to witness the highest growth during the forecast period of 2017 - 2022.
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 supply chain of this market comprises raw material manufacturers, winglet manufacturers, aerospace OEMs, and airline companies. The raw material manufacturers are Rio Tinto, Toray Industries, Hexcel, M C Gill, and Cytec. The key aerospace OEMs are Boeing, Airbus, Comac, Bombardier, Embraer, Cessna, and Gulfstream.
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.
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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. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts have been executed to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis
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
Strategic growth opportunities for the existing and new players
Key success factors
The global aerospace winglets market is segmented into the following categories.
Global Aerospace Winglets Market by Aircraft Type:
Very Large Aircraft
Global Aerospace Winglets Market by Platform Type:
A330 / A340
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Global Aerospace Winglets Market by Winglet Type
Advanced Technology Winglets
Split Scimitar Winglets
Wingtip Fence Winglets
Global Aerospace Winglets by Manufacturing Process Type
Hand Layup Process
Global Aerospace Winglets Market by Region
Rest of the World
Report Customization Options
With this detailed report, offers one of the following free customization options to our respectable clients:
Current market segmentation of any one of the regions by aircraft type
Breakdown of current North American Aerospace winglets market (2016) into the US, Canada, and Mexico
Detailed profiling of additional market players (up to 3 players)
SWOT analysis of key players (up to 3 players)
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