Fact.MR’s Aerospace Coatings For Commercial Applications sales outlook offers category and segment level analysis that provides insights on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.
Award-winning consulting firm Fact.MR’s demand for aerospace coatings for military applications market report forecasts a robust expansion trajectory, estimating a CAGR of nearly 6% from 2021-2031, with the market topping US$ 2 billion valuation by 2031. Growth is expected to remain underpinned by extensive uptake across the military segment.
The market posted significant gains in the past, being valued at just over US$ 1 billion in 2017. Prospects dipped during the COVID-19 pandemic throughout 2020, as cross-border passenger air travel ceased so as to contain the virus. The market experienced a growth rate of under 5% from 2016 and 2020.
In-depth analysis of the COVID-19 impact on the Aerospace Coatings Market https://www.factmr.com/connectus/sample?flag=Srep_id=6341
According to the Stockholm International Peace Research Institute (SIPRI), global military expenditure was estimated at nearly US$ 2 trillion in 2019, expanding by 3.6% in real terms as compared to 2018, with bulk of it contributed by the U.S (US$ 732 billion), followed by China (US$ 261 billion), and India (US$ 71 billion). As such, investments in military aircraft have also surged, paving the way for enhanced uptake of aerospace coatings to ensure longevity and durability of existing fleet.
Key Takeaways from Market Study
- Polyurethane aerospace coatings to surpass US$ 1 billion by 2031, expanding at above 6% CAGR
- Demand for epoxy aerospace coatings to experience impressive incline, registering a CAGR of nearly 6% until 2031
- Aerospace coatings across the OEM segment to witness major incline, expanding at over 6% CAGR
- By application, aerospace coatings for military aircraft to reign supreme, crossing US$ 300 million in 2020
- The U.S. to experience heightened sales amid high defense spending, being valued at US$ 400 million in 2020
- Market in China to expand impressively, expected to reach nearly US$ 500 million by 2031
- India, Australia, and South Korea to collectively contribute over US$ 300 million by 2031
- “Prominent manufacturers are expected to gain immense momentum across emerging economies of Asia, most notably in India and China, amid heightened spending on aviation infrastructure,” remarks a Fact.MR analyst.
Competitive Landscape
Prominent players in the aerospace coatings landscape rely on a slew of expansion strategies, including new product launches, collaborations with existing manufacturers and outright mergers acquisitions.
Notable developments in this space are as follows:
- In May 2021, BASF SE announced a collaboration with German aircraft carrier Lufthansa Group to equip its Boeing 777 freighters with its AeroSHARK surface film which mimics the fine structure of a shark’s skin to reduce aerodynamic drag which will be equipped starting 2022.
- In April 2020, Hohman Plating Manufacturing LLC unveiled a new controlled environment facility for new aerospace adhesive primers manufacturing, which will be used on the Pratt Whitney PurePower® PW1000G next generation engine parts.
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Key Market Segments Covered
Application
- Aerospace Coatings for Commercial Applications
- Aerospace Coatings for Military Applications
- Aerospace Coatings for General Aviation
End Use
- Aerospace Coatings for MROs
- Aerospace Coatings for OEMs
Resin
- Polyurethane Aerospace Coatings
- Epoxy Aerospace Coatings
- Other Resins Aerospace Coatings
Region
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- U.K.
- Italy
- France
- Spain
- Russia
- Rest of Europe
- East Asia
- China
- Japan
- South Korea
- South Asia
- India
- Rest of South Asia
- Oceania
- Australia
- Rest of Oceania
- Middle East Africa
- GCC
- South Africa
- Rest of MEA
- North America
Key Questions Answered in Report
- Which are the most lucrative markets for aerospace coatings?
- Which factors will impact the growth of the market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the aerospace coatings industry?
- What are the winning strategies of stakeholders in the market?
