Market Highlights

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.

Market Dynamics

The major factors driving the growth of the aerospace winglets market are-

  • Increasing the production rate of commercial and regional aircraft.
  • Certification of winglets as standard equipment in the variants of the best-selling aircraft, such as the B737 Max and A320neo family.
  • The increasing adoption rate of winglets by airlines in both the new as well as retrofit installations.
  • Winglet technology advancement.
  • Increasing fleet size.

Segmentation –

This report studies the Aerospace Winglets Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:

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 global 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.

Based on winglet type, the global 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 a 3% to 5% increase in fuel efficiency as compared to aircraft without winglets. Advanced technology winglet is projected to witness the highest growth during the forecast period of 2017-2022.

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 the 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.

Key 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
  • Cytec.

The key aerospace OEMs are-

  • Boeing
  • Airbus
  • Comac
  • Bombardier
  • Embraer
  • Cessna
  • Gulfstream.

The key winglet manufacturers are-

  • FACC AG
  • Korean Air Aerospace Division
  • RUAG Aerostructures
  • GKN Aerospace
  • Winglet Technology LLC
  • BLR Aerospace LLC.

New product development, collaboration with OEMs, and the formation of long-term contracts with OEMs are the key strategies adopted by the key players to gain a competitive edge in the market.

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