Global commercial aircraft wing market is projected to showcase a remarkable CAGR of 7.2% during the forecast period i.e. 2017-2024.
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The global commercial aircraft wing market is segmented into aircraft type such as narrow body, wide body and regional jet. Among these segments, narrow body segment captured the lion share in the overall market of commercial aircraft wing.
In addition to this, narrow body segment is projected to post a noteworthy CAGR of 7.1% during the forecast period. Likely, continuous advancement in the technology of aircraft wings is one the major factor bolstering the market of commercial aircraft wing.
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Moreover, rising global tourism coupled with increase in demand for aircraft is also believed to flourish the growth of commercial aircraft wing market.
Moreover, the global commercial aircraft wing market is anticipated to account noteworthy sales by 2024. Additionally, the commercial aircraft wing market is riding on the back growing aviation industry.
Geographically, Asia-Pacific commercial aircraft wing market is projected to seize the biggest market of global commercial aircraft wing by the end of 2024. This growth of Asia-Pacific region is attributed to the presence of large aviation industry and upsurge demand for energy efficient planes.
Moreover, China and Japan are the leading countries in this region owing to growing demand for advanced and innovative aircraft. Apart from this, North America region captured the second largest market of commercial aircraft wing market aided by U.S.
Growing Demand for Energy Efficient Aircraft
Increasing incorporation of advanced technologies in aircrafts in order to boost the efficiency of the aircraft is predicted to uplift the adoption of commercial aircraft wing which is envisioned to bolster the growth of commercial aircraft wing market. Furthermore, growing trade activities by air is also believed to augment the demand for commercial aircraft wing.
Evolution of Aircraft Industry
On-going evolution of aviation industry has introduced various technologies that can be incorporated into the aircraft to increase its efficiency. Further, adoption of these technologies is projected to be a positive aspect for the adoption of commercial aircraft wing which is anticipated to boost the growth of commercial aircraft wing market by the end of 2024.
Although, volatility in the price of raw material is projected to hamper the growth of commercial aircraft wing market during the forecast period.
The report titled “Commercial Aircraft Wing Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global commercial aircraft wing market in terms of market segmentation by aircraft type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global commercial aircraft wing market which includes company profiling of Airbus Group, The Boeing Company, Lockheed Martin, United Technologies Corporation (UTC), General Dynamics Corporation, Bombardier Aerospace, Northrop Grumman, Raytheon Company, Embraer Executive Jets, Mitsubishi Aircraft. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global commercial aircraft wing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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