Aerospace Coatings Market
The Aerospace Coatings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aerospace Coatings Global Market Report 2024, The aerospace coatings market size has grown strongly in recent years. It will grow from $2.52 billion in 2023 to $2.71 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to rise in defense budgets, growth of the aviation industry, ageing aircraft fleet, stringent regulations for aircraft safety and maintenance, rising demand for commercial and defense aircrafts.
The aerospace coatings market size is expected to see strong growth in the next few years. It will grow to $3.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rising air traffic, shifting consumer preferences, demand for aircraft light weighting, need for fuel efficiency, rising demand for new generation aircraft. Major trends in the forecast period include sustainability and eco-friendly coatings, nanotechnology in coatings, digitalization and smart coatings, advanced coating technologies, anti-icing and de-icing coatings.
The growing demand for commercial aircraft is expected to propel the growth of the aerospace coatings market going forward. Commercial aircraft are a type of aircraft that is used to transport passengers or cargo on a scheduled basis for some payment. Increasing demand for commercial aircraft requires new commercial aircraft to be manufactured, thereby promoting the growth of aerospace coatings used to coat the interior and exterior of an aircraft. For instance, according to Boeing, a US-based aerospace company’s commercial market outlook for 2021–2040, the global commercial fleet will exceed 49,000 aircraft by 2040. Therefore, the growing demand for commercial aircraft is driving the groeth of the aerospace coatings market.
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The aerospace coatings market covered in this report is segmented –
1) By Product Type: Top-Coat, Primer, Other Product Types
2) By Resin: Epoxy, Polyurethane, Acrylic, Other Resins
3) By Technology: Solvent-Based Coatings, Water-Based Coatings, Powder Coatings, Other Technologies
4) By Application: Exterior, Interior
5) By End User: Commercial Aviation, Military Aviation, General Aviation, Other End Users
Product innovations are the key trends gaining popularity in the aerospace coatings market. Major companies operating in the aerospace coatings sector are focused on developing new technological and innovative products to strengthen their position in the market. For instance, in January 2022, Sherwin-Williams Aerospace Coatings, a US-based manufacturer of high-quality exterior and interior paint and coating systems, launched the Aircraft Color Visualizer platform, an online 3D color visualizer tool that lets users experiment with different color schemes for their aircraft. The Aircraft Color Visualizer is a fully interactive desktop tool that lets users design color schemes for six different types of aircraft, including kit planes, single and twin-turboprops, light and heavy-duty business jets, and helicopters.
The aerospace coatings market report table of contents includes:
1. Executive Summary
2. Aerospace Coatings Market Characteristics
3. Aerospace Coatings Market Trends And Strategies
4. Aerospace Coatings Market – Macro Economic Scenario
5. Global Aerospace Coatings Market Size and Growth
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31. Global Aerospace Coatings Market Competitive Benchmarking
32. Global Aerospace Coatings Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aerospace Coatings Market
34. Aerospace Coatings Market Future Outlook and Potential Analysis
35. Appendix
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