The Winglets Global Market Report 2023, provides comprehensive information on the winglets market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/winglets-global-market-report
As per The Business Research Company’s Winglets Global Market Report 2023, the market is expected to grow from $2.45 billion in 2022 to $2.68 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The winglets market is expected to reach $3.67 billion in 2027 at a CAGR of 8.1%.
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Strategic partnerships are a key trend gaining popularity in the winglets market. Major companies operating in the winglets market are collaborating with other companies to sustain their position in the market. For instance, in March 2021, Korean Air’s aerospace division (KAL-ASD), a South Korea-based aerospace manufacturing division of the Korean Air group, made a deal extension for manufacturing winglets for the Boeing 737 Max. The firm says a new contract worth roughly $292 million will be in place from 2022 to 2028 for the production of the winglets for the narrow body. Furthermore, in January 2023, Ryanair Holdings plc, an Ireland-based low-cost airline, partnered with Aviation Partners Boeing, a US-based aviation company, to modify its Boeing 737-800s fleet with Split Scimitar winglets. This initiative will reduce Ryanair’s yearly fuel usage by 65 million liters and carbon emissions by 165.000 tons, increasing aircraft fuel efficiency by up to 1.5%, reducing aerodynamic drag, and enhancing airplane performance.
The winglets market 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 2022.
The table of contents in TBRC’s winglets market report includes:
- Executive Summary
- Winglets Market Characteristics
- Winglets Market Trends And Strategies
- Winglets Market – Macro Economic Scenario
- Global Winglets Market Size and Growth
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- Winglets Market Other Major And Innovative Companies
- Global Winglets Market Competitive Benchmarking
- Global Winglets Market Competitive Dashboard
- Key Mergers And Acquisitions In The Winglets Market
- Winglets Market Future Outlook and Potential Analysis
Top Major Players
- Airbus SE
- The Boeing Company
- Mitsubishi Heavy Industries Ltd
- PPG Aerospace
- Melrose Industries Plc
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