New York, NY -- (SBWIRE) -- 04/29/2019 -- Global Aircraft Winglets Market: Market Introduction

The aviation industry has been witnessing robust growth around the world imbibing the demand for aircraft. Aircraft as a means of transportation, is highly preferred in the present scenario for travel and goods transportation. Aircraft winglets is exterior section of aircraft which is meant for different applications such as, to reduce time to climb and fuel burn, help to reduce wingtip vortices. Furthermore, aircraft winglets are applied for increase the short field performance, to produce an especially good performance boost for jets by reducing drag, etc.

Global Aircraft Winglets Market: Market Dynamics

The inclination towards air travel has been steadily growing over the last couple of years due to the conveyance and affordability offers to the consumers. Further, increased disposable income amidst the middle-class population and growth in tourism – both at international and domestic levels has been increased demand for air traveling. Consequently, global aircraft winglets market anticipated to hold significant share and projected to grow at a healthy growth rate in near future. For instance, according to the statistics provided by the International Air Transport Association (IATA), the number of passengers travelling by air worldwide exceeded four billion for the first time in 2017

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Policies and stringent regulations formed by various authorities mandate regular replacement and maintenance of the worn out aircraft parts. This is expected to give push to the global aircraft winglets market in the present and forthcoming periods. Growing passenger traffic increases the commercial & regional aircraft deliveries, and increasing the fleet size of aircrafts, are the major drivers for the global aircraft winglets market over the forecast period

However, a new-generation aircraft has a warranty period which covers avionics, engines, airframe and interior-exterior parts up to a span of five years at least. So, repair and maintenance costs are negligible during the warranty period. Also, new aircraft generally are less prone to unexpected maintenance problems that may be costly and disruptive to operations. These factors collectively are bound to affect the sales of aircraft winglets market but from the aftermarket segment

Global Aircraft Winglets Market: Segmentation

Global aircraft winglets market can be segmented on the basis of product type, aircraft type, end-use, and regions. On the basis of aircraft types, global aircraft winglets market can be segmented as mentioned below:

Narrow Body Aircraft
Wide Body Aircraft
Turboprop Aircraft
Regional Jet Aircraft

On the basis of aircraft winglets type, the global aircraft winglets market can be segmented as mentioned below:

Sharklets
Split Scimitar Winglets
Wingtip Fences
Advanced Technology Winglets
Elliptical Winglets
Blended Winglets
Others

On the basis of end-use, global aircraft winglets market can be segmented as mentioned below:

Civil Aircraft
Civil Aircraft
Military Aircraft
Fighter Jets
General Aviation Aircraft
Commercial Passenger & Cargo Aircraft
Military Aircraft
Transport Carriers

Global Aircraft Winglets Market: Regional Outlook

The demand for aircraft winglets depends upon the production number of an aircraft in a particular region. Major players involved in the aircraft market have their bases in Europe and North America regions, as a result, it can be said that the aircraft winglets market is anticipated to grow at a healthy growth rate in North America and Europe. While small scale players of aircraft market are located in France, Brazil, and Canada. Owing to this, Latin America projected to hold a significant position in the global aircraft winglets market during the forecast period.

Conversely, the demand for aircraft winglets in other regions such as, South East Asia Pacific, Japan, and Middle East & Africa is relatively low, owing to the weak presence of aircraft manufactures in regions. Thus, these regions projected to grow at a moderate growth rate in term of aircraft winglets value market.

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Global Aircraft Winglets Market: key Participants

Global aircraft winglets market highly consolidated with a fistful number of high and medium sized players operating globally. Few key players are studied across the value chain of aircraft winglets market which is FACC AG, RUAG Aerostructure, Korean Air Aerospace Division, BLR Aerospace, LLC, Kaman Aerospace Aerostructures, and among others