According to the latest market research report by Technavio, the global commercial aircraft wing market is expected to grow at a CAGR of close to 8% during the forecast period 2017 to 2021.
This report by Technavio offers a detailed analysis of the global commercial aircraft wing market in terms of revenue and evolving market trends. The study also includes a current analysis and forecasts for various market sectors and all geographical regions.
Technavio research analysts categorize the market based on the aircraft type
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Global commercial aircraft wing market for narrowbodies: The increasing passenger traffic is expected to propel the growth of the narrowbody fleet by about three times than 2016 in the next few years. Furthermore, the global market is driven by the growing demand from network carriers for new aircraft and the need to replace aircraft in advanced regions like North America and Europe. The growth in a low-cost carrier (LCCs) will increase the requirement for single-aisle aircraft in the global markets.
“The use of advanced wings and airfoil designs is expected to refine the aerodynamic features and improved machine control in narrow-body aircraft during the forecast period. The vendors are using advanced, high-speed computational devices that will yield effective structural designs and boost sales in the market. The growing focus on environment-friendly aircraft will drive innovations in the wing designs introduced by manufacturers,” says Avimanyu Basu, a lead analyst at Technavio for research on aerospace components.
Global commercial aircraft wing market for widebodies: The rising demand for aircraft replacement will drive the growth in this market sector during the forecast period. The replacement of aircraft is mainly affected by the maintenance requirements, the economies of scale, and the overall market environment. The vendors in the market will introduce new technologies that will offer efficient components along with flight control surfaces that will augment the growth of this market segment.
Global commercial aircraft wing market for regional jets: The introduction of lightweight, single-seat light sports aircraft will drive the growth of this market sector. This new line of aircraft is made up of composite materials such as aileron skin, cockpit, and seats. North America and Europe contribute to nearly 65% of the demand for regional aircraft fleet in the global market.
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The top vendors operating in the global commercial aircraft wing market are:
- Airbus
- Boeing
- Bombardier
- EMBRAER
- Mitsubishi Aircraft
The other prominent vendors in the market include HITCO Carbon Composites, LISI AEROSPACE, RUAG Aerostructures, TRIUMPH GROUP, Exelis (Harris), Ferra Engineering, and TAL Manufacturing Solutions.
A more comprehensive analysis is available in the Technavio report titled, ‘Global Commercial Aircraft Wing Market 2017-2021’. Technavio also customizes reports by additional regions and specific segments upon request.
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- Global Commercial Airframe Component Market 2016-2020
- Global Aircraft Fuel Systems Market 2016-2020
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