Market Trends of Aircraft Fairings Industry
The Commercial Segment is Expected to Dominate the Market
The market is expected to be dominated by the commercial segment, whose revenue forms a major part of the total revenues of the industry. Currently, narrow-body aircraft are witnessing high demand, driven by increasing passenger traffic, mainly in developing countries.
With the increasing demand, the production rates of commercial aircraft increased over the years, putting pressure on the players in the supply chain to increase their production capacities as well. The manufacturer of Airbus A320 and Boeing B737, two of the largest-selling commercial aircraft in history, saw steady growth over the years. Airbus is increasing the production of the A320 family of aircraft to 60 units per month.
Hence, companies like FACC AG, Patria Aerostructures, Teledyne CML Composites, Ducommun Aerostructures, Avcorp Industries Inc., and CTRM are involved in the supply chain of fairings for these models, who will also be pressurized to ramp up their production levels. For instance, in July 2022, Deutsche Aircraft and Aciturri announced the appointment of Aciturri Aerostructures as a reference supplier for selected composite technologies for the D328eco aircraft. The contract requires that Aciturri manufacture the fairings, landing gear doors, and flight control movables using composite and metallic technologies. Aciturri will also ensure the assembly of the components for integration on the final assembly line.
Asia-Pacific will Showcase Remarkable Growth in the Market During the Forecast Period
Growth in the deliveries of commercial aircraft and the increasing procurement of military aircraft by various countries in the region are the primary market growth drivers. According to the International Air Transport Association (IATA), air travel in Asia will be greater than the next two biggest markets, North America and Europe, by 2030.
With such a high rate of growth in terms of passenger traffic, the airlines in the region need to procure new aircraft to cater to the increasing demand. Even for military activities, the countries in the Asia-Pacific region are procuring aircraft on a large scale. For instance, in February 2021, Boeing announced a new production line at the Hyderabad facility (India) of its joint venture with the Tata Group, Tata Boeing Aerospace Limited (TBAL). It is to manufacture complex vertical Fins for B737 MAX family aircraft. Moreover, as of February 2023, Indian private airlines such as Air India, Indigo, and others include 1,100 pending aircraft orders from various aircraft manufacturers.
