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

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.

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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Given the urgent need to improve operational efficiency of aircraft, winglets are being incorporated as standard equipment in various models of aircraft. Industry players are emphasizing on geographical expansion, cost optimization, technological advancements, and product differentiations. They are also pursuing several business strategies, such as mergers, collaborations, acquisitions to gain a competitive edge in winglets market.

Major Winglets Market players include Arysta LifeScience Corporation, Biolchim S.p.A, Biovert SL, BASF SE, Bayer S.p.A, Desarrollo Agrícola y Minero, S.A, ILSA S.p.A, Italpollina S.p.A, Koppert B.V., Lallemand

Browse key industry insights spread across 180 pages with 273 market data tables & 16 figures & charts from the report, "Aircraft Winglets Market, Price Trends, Competitive Market Share & Forecast, 2019 – 2026" in detail along with the table of contents:https://www.gminsights.com/industry-analysis/winglets-market

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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