Dublin, July 25, 2017 (GLOBE NEWSWIRE) -- The "Global Aerospace Winglets Market by Aircraft Type, by Platform Type, by Winglet Type, by Manufacturing Process, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022" report has been added to Research and Markets' offering.
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.
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.
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.
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
- Emerging trends
- 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:
- Narrow-Body Aircraft
- Wide-Body Aircraft
- Very Large Aircraft
- Regional Aircraft
- General Aviation
Global Aerospace Winglets Market by Platform Type:
- B737
- B747
- B777
- B787
- A320 Family
- A330 / A340
- A350XWB
- A380
- B737 Max
- B777x
- A320neo Family
- E175
- C Series
- Others
Global Aerospace Winglets Market by Winglet Type:
- Advanced Technology Winglets
- Blended Winglets
- Elliptical Winglets
- Raked Winglets
- Sharklet Winglets
- Split Scimitar Winglets
- Wingtip Fence Winglets
- Others
Global Aerospace Winglets by Manufacturing Process Type:
- Hand Layup Process
- Automated Process
- Other Process
Global Aerospace Winglets Market by Region:
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Report Customization Options
With this detailed report, one of the following free customization options to our respectable clients:
- Regional Segmentation
- Current market segmentation of any one of the regions by aircraft type
- Geographic Analysis
- Breakdown of current North American Aerospace winglets market (2016) into the US, Canada, and Mexico
- Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Companies Mentioned
- BLR Aerospace, LLC
- FACC AG
- GKN Aerospace
- Kaman Aerospace Aerostructures
- Korean Air Aerospace Division
- RUAG Aerostructure
For more information about this report visit https://www.researchandmarkets.com/research/rdgjxw/global_aerospace