Aerospace & Defense Coatings Market Share, Size, Trends, Industry Analysis Report, By Aircraft Type (Narrow-body Aircraft, Wide-body Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, Spacecraft); By Resin (Epoxy, Polyurethane, Others); By Application (Interior, Exterior, Engine); By Form (Powder, Liquid); By Region; Segment Forecast, 2021 - 2028
- Published Date:Oct-2021
- Pages: 111
- Format: PDF
- Report ID: PM2072
- Base Year: 2020
- Historical Data: 2016 - 2019
Report Summary
The global aerospace & defense coatings market was valued at USD 1,053.7 Million in 2020 and is expected to grow at a CAGR of 8.8% during forecast period. Ageing aircraft fleet giving rise to the demand for coatings from huge pile of aircraft fleet, increasing commercial and regional aircraft deliveries, growing need for longer life cycle of components, trend of shift from solvent-based coatings to solvent-less coatings in the industry are key factors driving the demand for coatings in the aerospace & defense industry. Furthermore, the trend of special liveries and the use of vibrant colors by airlines substantiates the demand for coatings in the industry.
Know more about this report: request for sample pages
Aircraft industry was among the worst-hit industries with the COVID-19 pandemic due to travel restrictions across the world, especially in the 2nd quarter of 2020. Leading OEMs have optimized their strategies to combat the COVID-19 pandemic. For instance, Airbus managed to deliver 566 commercial aircraft in 2020, of which 446 were from the A320 family. To overcome international travel restrictions amid pandemic, the company has strategically developed an e-delivery solution that accounted for more than 25% of its deliveries in 2020.
However, gradual easing of restrictions on flight travels with ease of lockdown measures across the world, widespread penetration of COVID-19 vaccinations, and regain in consumers’ confidence in safe air travel is creating a strong come-back for the industry, demonstrating a resilient outlook in the coming years.
Know more about this report: request for sample pages
Industry Dynamics
Growth Drivers
Airlines are constantly focusing on reducing maintenance costs and increasing durability for the enhanced lifecycle of components, which is a prime driver for coatings in the global market. Furthermore, the development of environment-friendly water-based coatings driven by a gradual shift from traditional solvent-based coatings and paint systems substantiates the market demand. Advancement in coating technologies such as using film coatings on mold, thereby replacing traditional spray-applied coatings, further fueling the market demand at an impressive rate.
Weight reduction is another key focus area of the industry where optimum and efficient usage of coatings also plays a crucial role. Improving fuel economy and reducing carbon emissions in the industry continues to be the mainstream trend for which advancements in coating technology with thin film and reduction in layer of paints acts as a key driving factor. Continuous R&D efforts to comply with current and future chemical regulations and develop high-tech coatings to enhance performance and lifecycle of components also drives the market demand.
Report Segmentation
The market is segmented in the most comprehensive way based on aircraft, resin, application, form, and region.
|
By Aircraft Type |
By Resin |
By Application |
By Form |
By Region |
|
|
|
|
|
Know more about this report: request for sample pages
Insight by Aircraft
Narrow-body aircraft holds the high dominance in the market driven by strong demand for short-haul aircraft platforms such as Airbus A320 and B737 (including their newer variants). Domestic air travel saw an impressive rebound in the third quarter of 2020, thereby pushing the narrow-body demand at a faster rate of recovery towards pre-COVID levels.
There is a growing demand among commercial aircraft (Narrow-body and wide-body aircraft) stakeholders to reduce the total cost of ownership, which is a key technological driver of the market. Offering highly durable coating solutions, seamless application, reduction in process time, reduction in cost without compromising performance are the key attributes for achieving the same.
Insight by Resin
Among resin types, polyurethane coatings segment is attributed to offer the highest growth opportunities in the global market during the forecast period. It offers high durability, excellent chemical resistance, significant weight savings, and sustainability promotes its usage. It also aligns with the current market demand for quicker throughput of aircraft production, quicker resin curing times, and ease of application.
Polyurethane is also preferred material for topcoats and is driven by advancements in their chromate-free and lead-free solutions. It also enhances efficiency, offers significant weight reduction, and improves coating performance. Additionally, high compliance with regulations on environment, health, and safety also act as a growth engine.
Insight by Application
Exterior application segment held huge dominance in the market with strong demand from both OEM as well as aftermarket. Airlines continue to evolve in rebranding activities with advancements in livery, thereby creating substantial market opportunities for coatings. Increasing aircraft leasing activities coupled with mergers & acquisitions also substantiates demand for exterior coatings to differentiate airlines and creates a unique identity.
Engine applications require specialized coatings, thereby representing unique set of opportunities in the market. There is a growing need for high-performance ceramic-based coatings for aero-engine applications such as fan blades, fan-case, and compressors. Increasing engine power and temperature demand coatings that can witness extreme temperature, pressure, and harsh environmental conditions.
Geographic Overview
North America holds a strong lead in the global market driven by host of factors such as introduction of new variants of commercial aircraft such as B737Max and B777x, strong defense spending, and technology leadership in military aircraft, making it largest the market for the segment, and gigantic lead in business jets and turboprops creating substantial market opportunities. The USA has leading aerospace industry coating suppliers such as PPG Industries Inc., Praxair Inc., Sherwin-Williams Company, and Hentzen Coatings Inc.
Asia-Pacific, on the contrary, holds a niche share but offers highest growth opportunity in the near term. The region has highest fleet of commercial aircraft and has long-road for maturity with ever-increasing air traffic. Furthermore, there are growing rebranding activities in the region among leading airlines which substantiates the coatings demand to next level in the region. China, Japan, and India are key markets offering robust opportunities for coating suppliers in the region.
Competitive Insight
Significant investments in R&D to develop innovating coating solutions meeting or exceeding current market requirements, maintaining diversified coating products portfolio with series of new launches, expansion of distribution network in proximity to customers, and formation of strategic alliances to gain competitive edge are some of the major strategies of competitors serving the global market.
Some of the key players competing in the global market are Akzo Nobel N.V., Argosy International, BASF SE, Brycoat.Inc, Henkel AG & Co. KGaA, Hentzen Coatings, Inc., Hohman Plating, IHI Ion bond AG, Mankiewicz Gebr, Mapaero, OC Oerlikon Corporation AG, PPG Industries Inc., Praxair Inc., The Sherwin-Williams Company, Zircotec Ltd.
Aerospace & Defense Coating Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2020 |
USD 1,053.7 million |
|
Revenue forecast in 2028 |
USD 1,832.0 million |
|
CAGR |
8.8% from 2021 - 2028 |
|
Base year |
2020 |
|
Historical data |
2016 – 2019 |
|
Forecast period |
2021 - 2028 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
|
Segments covered |
By Type, By Resin, By Application, By Form, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Key Companies |
Akzo Nobel N.V., Argosy International, BASF SE, Brycoat.Inc, Henkel AG & Co. KGaA, Hentzen Coatings, Inc., Hohman Plating, IHI Ion bond AG, Mankiewicz Gebr, Mapaero, OC Oerlikon Corporation AG, PPG Industries Inc., Praxair Inc., The Sherwin-Williams Company, Zircotec Ltd |
License and Pricing
Purchase Report Sections
- Regional analysis
- Segmentation analysis
- Industry outlook
- Competitive landscape
Connect with experts
Suggested Report
- Chemical Distribution Market Size, Share Global Analysis Report, 2023-2032
- Cancer Biomarkers Market Size, Share Global Analysis Report, 2023-2032
- Global Coffee Bean Grinding Machine Market Size, Share & Growth Analysis Report, 2023-2032
- Propolis Market Size & Share Global Analysis Report, 2023-2032
- Global Amla Extract Market Size, Share Analysis Report, 2023-2032
© 2023 Polaris Market Research and Consulting. All rights reserved
