Winglets Market is set to see healthy CAGR during 2020 to 2026 Winglets Market - PDF

Winglets Market Is Likely To Exceed US$3.2 Billion By 2026: Global Market Insights, Inc.
A research report published by Global Market Insights, Inc., suggests that Winglets Market
will exceed a valuation of $3.2 billion by 2026.
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 winglets
market.
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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 winglets industry in the near future.
Rising disposable income and increasing urbanization have escalated air travel due to less
time taken to travel and better convenience. This will propel the demand for new aircraft and
hence spur winglets industry growth.
From a regional perspective, Europe is estimated to contribute substantially to global winglets
market volume. Europe houses a huge number of Airbus production facilities, which
generates massive winglets industry demand. Also, rise in number of military aircraft
manufacturing facilities in Spain coupled with surging demand for narrow-body aircrafts from
regional low-cost carriers will drive winglets industry growth. As per estimates, Europe
winglets market is projected to garner $1.2 billion by 2026.
On the basis of aircraft types, winglets market is segmented into commercial aircraft, business
jets, regional jets, and military aircraft. The business jets segment is expected to witness huge
growth owing to the increasing number of high net worth individuals and aging fleet size. As
per estimates, the business jets segment is likely to grow at a CAGR of more than 6.5% over
2019-2026.
Based on winglet type, winglets market has been segmented into blended winglets, raked
wingtip, split scimitar winglets, sharklets, wingtip fences, and advanced technology winglets.
Among all, raked wingtips segment is expected to hold more than 8% share in the total
winglets market size by 2026.
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