Key Questions Answered in Report
How will the market for aerospace coatings expanding during the 2021-2031 forecast period?
According to Fact.MR’s projections, sales of aerospace coatings are anticipated to incline significantly, registering a CAGR of nearly 6% to be valued at above US$ 2 billion in 2031.
Which is likely to be the most promising aerospace coatings market over the decade?
The U.S. is expected to post significant gains to be valued at over US$ 400 million, and is likely to expand at around 5% CAGR across the 2021-2031 forecast period. However, China is expected to witness highly lucrative gains, topping almost US$ 500 million and expanding at 9% CAGR through 2031.
Which is likely to be the dominant application area for aerospace coatings?
Aerospace coatings for military aircraft is expected to generate towering demand, expanding at around 5% CAGR over the forecast period.
Which is the most preferred resin for manufacturing aerospace coatings?
Polyurethane aerospace coatings are expected to be the most preferred, expected to be valued at a little over US$ 1 billion by the end of 2031.
Report Also Addresses:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Aerospace Coatings and How to Navigate
- Recommendation on Key Winning Strategies
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Aerospace Coatings Demand from 2016-2020 Vs Future Growth Projections for 2021-2031
From 2016 to 2020, sales of aerospace coatings surged significantly well, expanding at around 5% CAGR. Demand has remained positive largely on the back of increasing application of substrates across aircraft bodies to enhance durability and longevity using minimal amount of material.
Growth prospects took a backseat amidst the COVID-19 pandemic, with the market being valued at over US$ 1 billion in 2020. Cessation of air travel amid border closures led to a significant dip in demand for aerospace coatings across several regions.
Fortunately, the market is estimated to surpass US$ 2 billion by 2031, expanding at a CAGR of nearly 6%, mostly driven by an increase in defense spending, which is inclining demand of military aircraft.
How is Surging Air Travel Paving the Way for Increased Adoption of Aerospace Coatings?
The International Civil Aviation Organization (ICAO) estimates that total number of passengers carried on scheduled air services rose to 4.3 billion in 2018, representing an increase of 6.4% compared to the previous year. This further increased to 4.5 billion in 2019. Consequently, aircraft manufacturers are increasing fleet sizes.
This increase in fleet size is augmenting demand for high-quality aerospace coatings to ensure longer lifespans by enhancing the durability of aircraft bodies to prevent damage from corrosion, UV rays and abrasion due to frequent usage. Maximum growth is anticipated across the short-haul market across the Asian region.
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Will Demand for Lightweight Construction Material Broaden Prospects for Aerospace Coatings?
As global air travel frequency rises, prominent airline companies are expanding existing fleet sizes by incorporating highly durable and lightweight construction material. Emergence of low-cost airlines is inclining demand for air travel across emerging economies.
Modern day air travel majorly emphasizes on long-range travel with minimal operational costs, for which application of aerospace coatings is of utmost importance. These coatings are well-equipped to protect aircraft bodies from the vagaries of nature using the least amount of material possible.
How Will the U.S. Generate Growth Opportunities for Aerospace Coating Suppliers?
The market for aerospace coatings in the U.S was valued at over US$ 400 million as of 2020. According to Fact.MR’s projections, the market is forecast to expand at under 5% CAGR until 2031. Growth is expected to remain especially strong across the military segment.
Estimates from the Department of Defense (DoD) suggests that overall budgetary resources allocation for FY 2021 amounts to US$ 731 billion, constituting around 12% of federal budgetary resources for the upcoming year. This allocation is likely to benefit aerospace coatings manufacturers in the long-run.
Why are Aerospace Coating Manufacturers Expected to Consolidate Their Presence across China?
Aerospace coatings sales across China are expected to surge at an impressive CAGR of around 9% to reach almost US$ 500 million by 2031. Growth is primarily attributed to rising government initiatives to strengthen the domestic aerospace industry across commercial, military and general aviation spaces.
According to Flight Global, China is likely to double down on support for its domestic commercial aerospace industry, promoting enhanced usage of home-grown aerospace products. Significant developments, including Shanghai-based Comac’s airworthiness certification for its C919 narrowbody program, will provide impetus to future aerospace coating adoption.
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Why is Polyurethane the Most Preferred Resin for Manufacturing Aerospace Coatings?
By resin, polyurethane aerospace coatings is projected to be valued at a little over US$ 1 billion expanding at over 6% CAGR by 2031. Polyurethane aerospace coatings offer enhanced durability and abrasion resistance which are vital to ensure longevity of aircraft fleet.
Furthermore, these coatings offer a high degree of natural resistance to UV rays. Prominent players, including Akzo Nobel, offer a broad range of polyurethane coatings. The company offers a broad range of topcoats applicable across the military and commercial aviation sectors.
Will Application in Military Aircraft Spearhead Demand for Aerospace Coatings?
By application, aircraft coatings for military aircraft is expected to reach new heights, attributed to rising expenditure on defense by prominent governments. As of 2019, the segment reached almost US$ 300 million and is forecast to expand at around 5% CAGR through 2031.
As national security concerns mount, key countries such as the U.S, India and China, have extensively invested funds in strengthening existing military infrastructure, including aircraft, which is inclining demand for aerospace coatings across the segment.
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.
*This list is indicative- full details about prominent aerospace coatings manufacturers is available upon request.
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|Historical Data Available for||2016-2020|
|Market Analysis||US$ Mn for Value & ‘000 Units for Volume|
|Key Regions Covered||
|Key Countries Covered||
|Key Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
Key Market Segments Covered
- Aerospace Coatings for Commercial Applications
- Aerospace Coatings for Military Applications
- Aerospace Coatings for General Aviation
- Aerospace Coatings for MROs
- Aerospace Coatings for OEMs
- Polyurethane Aerospace Coatings
- Epoxy Aerospace Coatings
- Other Resins Aerospace Coatings
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia
- Rest of South Asia
- Rest of Oceania
- Middle East & Africa
- South Africa
- Rest of MEA
- North America
Aerospace Coatings Market - Scope of Report
A recent study by Fact.MR on the aerospace coatings market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering aerospace coatings.
The study also provides the dynamics responsible for influencing the future status of the aerospace coatings market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing aerospace coatings, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of aerospace coatings across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of aerospace coatings during the forecast period. Price point comparison by region with global average price is also considered in the study.
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?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Market estimates at global and regional levels for aerospace coatings are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global aerospace coatings market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the aerospace coatings market during the forecast period.
Country-specific valuation on demand for aerospace coatings has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of aerospace coatings, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering aerospace coatings has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the aerospace coatings market, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.