The global aerospace & defense coatings market size is expected to reach USD 1,832.0 million by 2028 according to a new study by Polaris Market Research. The report “Aerospace & Defense Coating 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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing demand for corrosion resistance in the bestselling aircraft platforms such as A320, B787, and B777 (including new variants), which have majority of aluminum content often prone to more corrosion and erosion, is a key driver fueling the demand for aerospace & defense coatings in the global industry. Additionally, focus of airlines across the world to reduce operational costs and keep their fleet of aircraft in run elevates the demand for aerospace & defense coatings for increasing lifecycle of components.
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Strong bounce-back in narrow-body aircraft production rates is likely to substantiate the demand in the global industry. For instance, Boeing is very optimistic with ramp-up of production rate of its B737Max aircraft and is expecting it to increase to 31 aircraft per month by early 2022. Similarly, Airbus is forecasting its A320 aircraft production rate to increase from current rate of 40 per month to 43 in Q3 2021 and 45 in Q4 2021.
Major participants such as 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. are some of the key players competing in the global industry.
Major players have been actively investing in R&Ds and developing new and innovative products to gain a competitive edge in the market. In July 2021, PPG Industries, one of the leading coating suppliers, announced launch of PPG BOUNDLESS CA6500 polyurethane topcoats for general aviation market in the USA and Canada.
Polaris Market Research has segmented the aerospace & defense coatings market report on the basis of aircraft, resin, application, form, and region:
Aerospace & Defense Coatings, Aircraft Outlook (Revenue - USD Million, 2016 - 2028)
Aerospace & Defense Coatings, Resin Outlook (Revenue - USD Million, 2016 – 2028)
Aerospace & Defense Coatings, Application Outlook (Revenue - USD Million, 2016 - 2028)
Aerospace & Defense Coatings Market, Form Outlook (Revenue - USD Million, 2016 - 2028)
Aerospace & Defense Coatings, Regional Outlook (Revenue - USD Million, 2016 - 2028)