According to the report by Expert Market Research (EMR), “The Global Winglets Market Size, Share, Analysis, Report and Forecast 2024-2032″,the global winglets market reached a value of USD 1,018 million in 2023. Aided by the escalating need for fuel-efficient aircraft and the growing advancements in aerodynamic technologies, the market is projected to further grow at a CAGR of 7.10% between 2024 and 2032 to reach a value of USD 1,544 million by 2032.
Winglets are vertical or angled extensions at the end of aircraft wings designed to improve the aircraft’s fuel efficiency and reduce its environmental impact. These structures achieve this by reducing the wingtip vortices, which are the primary cause of drag for an aircraft in flight. Apart from enhancing fuel efficiency, winglets also improve an aircraft’s range and stability, making them a vital component in modern aviation.
The surge in demand for fuel-efficient aircraft is the primary growth driver for the global winglets market growth. Amid escalating fuel prices and growing environmental concerns, airlines worldwide are seeking ways to reduce their fuel consumption and carbon footprint. Winglets have emerged as an effective solution to these challenges, leading to a significant rise in their adoption in both commercial and military aircraft.
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Advancements in aerodynamic technologies also contribute to the winglets market expansion. With the progress in computational fluid dynamics and material science, more effective and diverse winglet designs are being developed. These designs, such as blended winglets and split scimitar winglets, provide even greater fuel savings and operational benefits, further bolstering their demand in the market. Furthermore, market players will likely focus on developing more advanced and cost-effective winglet designs to meet the evolving needs of the aviation industry.
Additionally, the rising air traffic, spurred by the increasing affordability of air travel and the growth of the tourism industry, is expected to boost the winglets market demand. As the number of aircraft increases, so does the demand for winglets, given their critical role in enhancing an aircraft’s performance and efficiency.
In the military sector, winglets are being increasingly used to improve the range and endurance of military aircraft, particularly surveillance and reconnaissance aircraft, which require long flight durations. The usage of winglets in unmanned aerial vehicles (UAVs) is also on the rise, fuelling the growth of the winglets market.
Market Segmentation
The market can be divided based on winglet type, aircraft type, fit, end use, and region.
Market Breakup by Winglet Type
- Sharklets
- Wingtip Fences
- Blended Winglets
- Split Scimitar Winglets
- Others
Market Breakup by Aircraft Type
- Wide Body Aircraft
- Narrow Body Aircraft
Market Breakup by Fit
- Line Fit
- Retrofit
Market Breakup by End Use
- Civil Aircraft
- Military Aircraft
- Commercial and Cargo Aircraft
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global winglets companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Airbus SE
- BLR Aerospace, L.L.C.
- Aviation Partners, Inc.
- The Boeing Company
- GKN plc
- Textron Aviation Inc.
- Winglet Technology, LLC
- RUAG group
- Tamarack Aerospace
- Others
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