Aerospace Winglets Market is Likely to reach US$ 558.9 million in the coming Years

Stratview Research has launched a new research report on Aerospace Winglets Market. Published on May, 2017, this 202-page report segments the market in following ways to provide a 360-degree holistic view.

The forecast of the market size has been segmented by –
• by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, and Others)
• by Platform Type (B737, B747, B777, and Others)
• by Winglet Type (Advanced TechnologyWinglets, and Others)
● by Curing Type (Autoclave, Out of Autoclave, and Others)
● and by Region

o North America
o Europe
o Asia-Pacific
o Rest of the World

The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Aerospace Winglets market.
Years considered for this report –
 base year 2017
 trend period 2011 – 2016
 forecast period 2017 – 2022

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Increasing production rate of commercial and regional aircraft

The 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 aerospace winglets market.

High pressure on the lower surface creates a natural airflow

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.

Narrow-body aircraft to remain the largest and the fastest-growing segment of the market

The 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 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.

Blended winglet dominates the aerospace winglets market

Based on winglet type, the 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 dominates the 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 to remain the largest market

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.

Top market players

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, The Gill Corporation, 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.

Report Features

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 on 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
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

Research Methodology

This report studies the global Aerospace Winglets market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
 Extensive secondary research,
 Rigorous primary interviews with more than 15 industry stakeholders across the value chain.
 Validation and triangulation of data 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.

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