Overview and Scope
Winglets refer to aerodynamic devices attached to the tips of an aircraft’s wings, typically upward or downward-curved extensions that serve multiple purposes to improve the performance and efficiency of the aircraft. It enhance the overall aerodynamic performance of the aircraft, resulting in smoother and more efficient flight. The primary function of winglets is to minimize drag and to improve fuel efficiency.
Sizing and Forecast
The winglets market size has grown strongly in recent years. It will grow from $2.68 billion in 2023 to $2.93 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to fuel efficiency and performance enhancement, regulatory pressure for emissions reduction, increased focus on operating cost reduction, aircraft fleet upgrades and retrofits, market competition and airline differentiation.
The winglets market size is expected to see strong growth in the next few years. It will grow to $3.98 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to emergence of next-generation aircraft, global growth in air travel demand, sustainability and emission reduction goals, advancements in winglet design and materials, ongoing aircraft retrofit programs. Major trends in the forecast period include enhanced range and payload capacity, oem collaboration with winglet manufacturers, advancements in winglet materials, application in business and regional aircraft, regulatory support and certification.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/winglets-global-market-report
The winglets market covered in this report is segmented –
1) By Winglet Type: Sharklets, Split Scimitar Winglets, Wingtip Fences, Blended Winglets, Other Winglet Types
2) By Fit: Line Fit, Retrofit
3) By End Use: Civil Aircraft, Military Aircraft, Commercial And Cargo Aircraft
North America was the largest region in the winglets market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the winglets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample_request?id=12414&type=smp
Major Driver Impacting Market Growth
The increasing aircraft production is expected to propel the growth of the winglets market going forward. Aircraft production refers to designing, manufacturing, and assembling aircraft, including commercial and military aircraft. Winglets are used in aircraft production to improve aerodynamic performance and fuel efficiency. For instance, according Airbus SE, a France-based aerospace corporation, Airbus delivered 735 commercial aircrafts to 87 customers around the world in 2023, an 11% increase from 2022. Therefore, the increasing aircraft production is driving the growth of the winglets market.
Key Industry Players
Major companies operating in the winglets market report are Airbus SE, The Boeing Company, Mitsubishi Heavy Industries Ltd, PPG Aerospace, Melrose Industries Plc, Korean Air Lines Co. Ltd., Gulfstream Aerospace Corporation, Dassault Aviation, Bombardier Aerospace, Textron Aviation Inc., Spirit AeroSystems Holdings, Israel Aircraft Industries, Embraer S.A., Daher, RUAG Holding, Aernnova Aerospace S.A., FACC AG, GKN Aerospace, Honda Aircraft Company, Viking Air Limited, BLR Aerospace, Applied Composites Engineering, SyberJet Aircraft, Vortex Aviation Inc., Aviation Partners Inc., Aviation Partners Boeing (APB), Tamarack Aerospace Group,Yankee Composites, Winglet Technology LLC, The Aircraft Performance Company GmbH.
The winglets market report table of contents includes:
1. Executive Summary
2. Winglets Characteristics
3. Winglets Trends And Strategies
4. Winglets – Macro Economic Scenario
5. Global Winglets Size and Growth
…..
32. Global Winglets Competitive Benchmarking
33. Global Winglets Competitive Dashboard
34. Key Mergers And Acquisitions In The Winglets
35. Winglets Future Outlook and Potential Analysis
36. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
