Overview and Scope
Aircraft paint refers to specialized coatings applied to aircraft surfaces to protect against corrosion, weathering, and environmental damage and enhance the aircraft’s appearance. These paints are formulated to withstand the unique operating conditions of aviation, such as high altitudes, temperature fluctuations, and aerodynamic stresses.
Sizing and Forecast
The aircraft paint market size has grown strongly in recent years. It will grow from $4.05 billion in 2023 to $4.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to material science developments, economic factors, globalization, fleet expansion, environmental concerns.
The aircraft paint market size is expected to see strong growth in the next few years. It will grow to $5.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to renovation and maintenance, aesthetic customization, rising focus on fuel efficiency, aircraft fleet expansion. Major trends in the forecast period include digitalization, antimicrobial coatings, heat-reflective coatings, nanotechnology, advanced coatings.
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The aircraft paint market covered in this report is segmented –
1) By Type: Liquid Coating, Powder Coating
2) By Application: Exterior, Interior
3) By End-User: Commercial, Military, General Aviation
North America was the largest region in the aircraft paint market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing production and delivery of new aircraft is expected to propel the growth of the aircraft paint market going forward. Aircraft are vehicles designed for air travel, including airplanes, helicopters, and drones. The production and delivery of new aircraft are increasing due to growing demand from airlines seeking to modernize fleets, expand routes, and meet rising passenger travel needs globally. Aircraft paint is applied in aircraft production primarily to protect against corrosion and environmental damage and enhance aesthetics. For instance, in June 2023, according to the Boeing Company, a US-based aircraft industry company, the global aviation industry is projected to experience robust demand, with an anticipated need for 42,595 new commercial jets valued at $8 trillion by 2042. Moreover, in November 2022, according to a report published by CAPA – Centre for Aviation, Airbus and Boeing, OEMs expect to deliver more than 1000 aircraft in 2022, and both plans call for stepping up production even more in 2023. Therefore, increasing production and delivery of new aircraft is driving the growth of the aircraft paint market.
Key Industry Players
Major companies operating in the aircraft paint market are Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Jotun Aerospace, Nihon Parkerizing Co. Ltd., Chemetall, Mankiewicz Gebr. & Co., Satys, IHI Ionbond AG, Hentzen Coatings Inc., Novaria Group, Mapaero Inc., HMG Aerospace, Nycote Laboratories Corporation, BASF Coatings GmbH, Resoltech, Zircotec, Altech Anodizing Ltd., Zircotec Ltd., GKN Aerospace Chem-Tronics Inc., Chromalloy Gas Turbine LLC, Permagard Inc., JetCote
The aircraft paint market report table of contents includes:
1. Executive Summary
2. Aircraft Paint Characteristics
3. Aircraft Paint Trends And Strategies
4. Aircraft Paint – Macro Economic Scenario
5. Global Aircraft Paint Size and Growth
…..
32. Global Aircraft Paint Competitive Benchmarking
33. Global Aircraft Paint Competitive Dashboard
34. Key Mergers And Acquisitions In The Aircraft Paint
35. Aircraft Paint Future Outlook and Potential Analysis
36. Appendix
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