Selbyville, Delaware, Feb. 05, 2020 (GLOBE NEWSWIRE) --
According to latest report “Aerospace Winglets Market by Winglet Type (Blended Winglets, Raked Wingtip, Split Scimitar Winglets, Advanced Technology Winglets, Sharklets, Wingtip Fences), Aircraft Type (Commercial Aircraft, Regional Jets, Business Jets, Military Aircraft), Platform Type (B737, B737 Max, B747, B767, B777, B787, A320 Family, A330, A350XWB, A380), Fit (Line Fit, Retro Fit), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of aerospace winglets will reach $3.2 billion by 2026 as winglets enable aircraft manufacturers to minimize wingtip vortex, thereby enhancing operational efficiency of aircrafts.
Growing urbanization and increasing spending power of people towards minimum travel time and better convenience will propel air travels demand across the globe. This will be supported by increasing global urbanization rate, which will further increase the need for new aircrafts over the projected timeframe. Thus, safer and economic air travels will increase the need for efficient aircrafts, which in turn will positively impact the aerospace winglets market growth.
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Raked wingtips will account for a reasonable share of more than 8% by 2026 in the global aerospace winglets market and is likely to grow with healthy rate of 7% through 2026. Raked wingtips are mainly used on wide body aircrafts owing to large wings of aircrafts that limit usage of other winglet types. Additionally, it improves aircraft performance on long range travels.
Business jets segment will showcase a growth rate of more than 6.5% over projected timeframe due to growing number of high net worth individuals, and aging fleet size. Further, aircraft manufacturers are focused towards increasing operational efficiency of the jets, which will also drive the use of winglets in business jets by 2026.
Rising usage of sharklets in Airbus A330 family will increase the segment’s market size during the forecast timeframe with the highest CAGR of more than 18% from 2019 to 2026, owing to growing demand of A330neo across the globe. A330neo receives investment of over USD 165 million every year on an average to integrate the latest advancements from the A380 and A350 XWB families and make its place as the finest in its class. Furthermore, higher efficiency and versatility of these aircrafts to fly most frequently among any wide-body aircrafts, will positively drive the sharklets industry demand.
Europe aerospace winglets market is expected to generate around USD 1.2 billion by 2026. This is owing to large presence of Airbus production facilities in the region, which caters to a vast segment of aircrafts demand in the world. Additionally, growing productions of military aircrafts in Spain and rising demand for narrow body aircrafts from regional low-cost carriers will positively affect the European market growth.
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Some of the major findings in aerospace winglets market report include:
- The market is oligopolistic in nature, which is dominated by very few numbers of large players.
- Increasing trend towards production and delivery of passenger aircrafts will develop winglets market.
- Growing concerns toward CO2 emission will propel production for more efficient aircrafts, which will drive the aerospace winglets market demand.
- Industry players are supplying winglets as a standard equipment for several models of aircrafts and are focused towards technological advancements, geographic expansions, product differentiations, and cost optimization strategies over the long run.
Table of Contents (ToC) of the report:
Chapter 3. Aerospace Winglets Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.2. Vendor matrix
3.4. Pricing analysis
3.4.1. Regional pricing
3.4.1.1. North America
3.4.1.2. Europe
3.4.1.3. Asia Pacific
3.4.1.4. Latin America
3.4.1.5. Middle East & Africa
3.4.2. Cost structure analysis
3.5. Technology landscape
3.6. Regulatory landscape
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.2. Industry pitfalls & challenges
3.8. Innovation and sustainability
3.9. Growth potential analysis, 2018
3.10. Porter’s analysis
3.11. Competitive landscape
3.11.1. Company performance analysis
3.11.2. Strategy dashboard
3.12. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/winglets-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.