Surging demand for aircraft due to rising air travels across the world has augmented winglets market size at a considerable pace. Aircraft companies have increased production and delivery of passenger airplanes considerably to meet the constantly increasing demand for air travel, which has created a conducive environment for the growth of market. Winglets enable minimization of wingtip vortex and enhance operational efficiency of the jets, due to which they are increasingly being incorporated with aircrafts. Also, intensifying concerns regarding CO2 emissions have raised the demand for more efficient aircraft, which is likely to push industry in the near future.
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Based on winglet type, the winglet industry is categorized into raked wingtips, split scimitar winglets, blended winglets, sharklets, advanced technology winglets and wingtip fences. Of these, the raked wingtips segment is expected to hold over 8% of the winglets market share in 2026 and is poised to depict appreciable growth at a CAGR of nearly 7% through 2026.
Raked wingtips are used extensively on wide body aircrafts, due to the limited application potential of other winglet types on the larger wings. Furthermore, raked wingtips demonstrate considerable potential in enhancing the performance of the aircrafts, especially during long-range travels.
Global winglets market from the sharklets segment is expected to depict commendable growth at over 18% CAGR through 2026, owing to the product’s rising usage in the Airbus A330 family. Industry demand will be further bolstered by the escalating demand for A330neo aircrafts worldwide.
The A330neo aircraft receives an average investment of over $165 million each year, in order to incorporate the latest developments in the A350 XWB and A380 families, positioning it as the finest aircraft in its class. Also, greater versatility and higher efficiency of the A330neo aircrafts, in terms of flight frequency among wide-body aircrafts is likely to further drive winglets market demand from the sharklets segment.
With aircraft manufacturers focusing increasingly towards operational efficiency enhancement in business jets, the use of winglets in these jets is expected to surge dramatically. Market share from the business jets segment is anticipated to exhibit an appreciable growth rate of over 6.5% through 2026, as a result of aging fleet sizes and the mounting number of individuals with high net worth.
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Europe winglets market share is anticipated to record revenue of over $1.2 billion by 2026. This growth is largely attributed to the strong presence of Airbus manufacturing facilities in the region, which accommodate aircraft demand across myriad segments worldwide.
Furthermore, the proliferating production of military aircrafts in Spain, alongside growing demand for narrow-body planes from low-cost carriers is likely to accelerate market expansion in the European region over the forecast spell.
Major Key Points from Table of Content:
Chapter 7. Winglets Market, By Fit
7.1. Global market share by fit, 2018 & 2026
7.2. Line fit
7.2.1. Global market estimates and forecasts, 2016 – 2026
7.2.2. Market estimates and forecast, by region, 2016 – 2026
7.3. Retro fit
7.3.1. Global market estimates and forecasts, 2016 – 2026
7.3.2. Market estimates and forecast, by region, 2016 – 2026
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