The global aerospace coating market is expected to observe a substantial growth at a CAGR of 5.1% and reach the estimated value of USD 2.3 bn by 2026 as against its valuation of 1.7bn in 2017.
The growing commercial aerospace sector is projected to drive the demand for the aerospace coating market in the near future. Also due to high demand, the production of aircraft has been expanding, owing to the growth of the market in the coming years.
Despite the negative impact of the covid pandemic, the market is all set to regain its position with resilience and succeed in space during the forecast years.
Researchmoz shares opinions on the market dynamics of the aerospace coating market including market size, growth opportunities, drivers, restraints, and regional and competitive outlook.
Increasing Air Fleet Fuels, the Growth of Aerospace Coating
The growing travel sector and demand from the commercial aviation sector is paving the way for a growing fleet and thus resulting in the growth of the global aerospace coating market.
Further, the excellent functional properties offered by aerospace coating such as resistance to abrasion, withholding the extreme temperatures, protection against UV rays of sunlight, etc. are projected to bring growth in the global aerospace coating market in the coming years.
Aerospace coating happens to be the most technically advanced coating due to its excellent interior and exterior properties.
Aesthetic Aspect to Boost Demand for Exterior Segment
On the basis of application, the global aerospace coating market is segmented into exterior and interiors, however, the exterior segment is projected to lead during the forecast period.
The exterior segment provides excellent aesthetics such as a shiny appearance to their aircraft, using primer, base coat, and topcoat. Besides, just the aesthetics, the exterior application also offers anti-corrosion, resistance to chemicals, and staining, thus driving the global aerospace coating market.
However, some countries slightly reduce their expenditure on military operations, which could hinder the growth to some extent during the forecast years.
Despite that, the rising investment in research and development is projected to stimulate the growth in the aerospace coating market in the following years.
Military aviation is expected to thrive and bring in sales and revenue for the global aerospace coating market in the future. The growth of this segment can be attributed to the rising spending on military and defence vehicles in order to protect national security and borders.
The rising demand for commercial aircraft due to rapid urbanization and growing economies are anticipated to boost the growth opportunities during the forecast years.
The enormous demand for coatings in Airbus and Boeing is projected to bolster the growth opportunities in the global aerospace coating market over the next few years.
Market stalwarts such as Henkel are investing heavily in research and development for developing innovative materials to reduce emissions and offer lightweight products to the end-users.
While North America leads the global aerospace coating market, Asia Pacific is expected to witness substantial growth simultaneously, owing to growing commercial and military aviation sectors in the following years.
Researchmoz extracts the detailed report and information about the leading players in the global aerospace coating market including their recent competitive strategies.
Most of the key players in the global aerospace coating market choose to enter into partnerships, mergers, acquisitions, and product innovation to tap deeper into the global market.
Following are some of the prominent players in the global aerospace coating market-
- Hentzen Coatings, Inc., (U.S.
- Zircotec Ltd. (U.K.)
- Akzo Nobel NV
- Brycoat Inc
- PPG Industries
- The Sherwin-Williams Company (U.S.)
- Mankiewicz Gebr. & Co. (Germany
- IHI Ionbond AG
Researchmoz provides detailed information on the aerospace coatings market in its report, so that market investors take a thoughtful decisions based on the facts and data in order to thrive in this space.
Here are a few key takeaways from the report-
- The global aerospace coatings market is slated to witness substantial growth at a CAGR of 5.1% between 2107 to 2027 and the same is expected to make it to an estimated value of USD 2.3bn by 2026.
- The excellent properties of aerospace coatings such as corrosion resistance, resistance to high temperatures, chemical resistance, and protection against are expected to be the determinants causing the market growth in the forecast period.
- Increasing production of aircraft is expected to bolster the global aerospace coatings market during the forecast period.
- The Exterior sub-segment under the application segment is anticipated to hold a larger share in the global aerospace coatings market, owing to the benefits of protecting the exteriors of the aircraft.
- The solvent-based coatings are projected to boost sales in the market and it can be attributed to the excellent colour provided by solvent coats.
- North America is expected to dominate the global aerospace coatings market, owing to high military expenditure by the U.S. government, increasing commercial aviation demand, and the presence of prominent manufacturers in the region.
- The Asia Pacific is likely to observe a good growth alongside, the growth in the region could be due to rapid urbanization, improvement in the economic status of developing countries.
- Many key players in the global aerospace coatings market are capitalization on competitive strategies such as mergers, acquisitions, joint ventures, product innovation, etc.
- Others (Silicone, Polyester and Acrylic)
- Liquid Coating-based
- Powder Coating-based
- Base Coat
- Top Coat
End User Type
- Military Aviation
- Commercial Aviation
- General Aviation
- Business Aircrafts
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)