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Aerospace Coating Market Size to Hit US$ 2,924.50 Mn by 2027

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Aerospace Coating Market Size to Hit US$ 2,924.50 Mn by 2027

November 17
11:13 2021
Aerospace Coating Market to Grow at a CAGR of 6.3% During 2020 to 2027. In 2019, North America held the largest share of the global market.

According to our latest market study on “Aerospace Coating Market Forecast to 2027 – COVID-19 Impact and Global Analysis – Resin Type, and End User (Commercial Aviation, Military Aviation, and General Aviation),” the market was valued at US$ 1,807.81 million in 2019 and is projected to reach US$ 2,924.50 million by 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Strategic Insights

Report Coverage

Details

Market Size Value in

US$ 1,807.81 Million in 2019

Market Size Value by

US$ 2,924.50 Million by 2027

Growth rate

CAGR of 6.3% from 2020-2027

Forecast Period

2020-2027

Base Year

2020

No. of Pages

157

No. Tables

83

No. of Charts & Figures

79

Historical data available

Yes

Segments covered

Resin Type , by Technology , and by End User

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

 

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Aircraft need to withstand high climatic stress that generally damages the metal surface resulting in frequent repairs and maintenance. Aerospace coatings provide better resistance against corrosion, ultraviolet rays and solar heat, fog, and other adverse weather conditions. The coating also protects the aircraft from corrosion and chemical attacks. Moreover, frequent environmental changes have also led to the rise in the requirement of coatings for aircraft. Aerospace coatings are designed to prevent temperature fluctuations, air pressure variations, and air instabilities.

There has been a strong demand for aerospace coating products from the maintenance, repair, and overhaul (MRO) industry in the regions having long haul routes. New technologies such as chrome-based coatings protect aircraft from UV exposure at higher altitudes. The coatings also help in reducing the debris build-up and minimize drag in the air, which basically helps in reducing the airplane fuel, which results in cost-saving. Aerospace coatings provide an esthetic look to the aircraft, thereby allowing the companies to gain edge over their competitors.

Various benefits of aerospace coatings to influence the aerospace coatings market globally

Aerospace coatings are considered as a high-performance coating material that helps in protecting the aircraft from harsh weather conditions that can cause damage to the aircraft resulting in maintenance and repairs. There has been a strong demand for aerospace coating products from the maintenance, repair, and overhaul (MRO) industry in the regions having long haul routes. The aerospace coatings are designed in order to prevent any air instability, temperature fluctuation, and variable air pressures. The coating also protects the aircraft from ultraviolet exposure, corrosion, and chemical attacks. The coating helps in reducing the weight of the aircraft that results in lower CO2 emission. New technologies such as chrome-based coatings protect the aircraft from UV exposure at higher altitudes. The new coating technologies have advanced capabilities that will help the aviation industry in cost-saving. The coatings help in reducing the debris build-up as well as minimizes drag in the air, which basically helps in reducing the airplane fuel, which results in cost-saving. These cost-savings have both economic as well as environmental impact. Aerospace coatings provide an aesthetic look to the aircraft which the aviation companies are using in order to look classy and unique, which will help the company to be different from its competitors

Impact of COVID-19 Pandemic on Aerospace Coating Market

As of January 2021, India, Brazil, Russia, China, Italy, Iran, Spain, Republic of Korea, France, Germany, and the US are among the worst-affected countries in terms confirmed cases and reported deaths. According to the latest WHO figures, ~84,474,195 confirmed cases and ~1,848,704 total deaths have been reported globally. The COVID-19 outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemicals and materials, and aerospace are among the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. China is the global hub of manufacturing and largest raw material supplier for various industries, and it is one of the badly affected countries by the pandemic. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. These factors are anticipated to decelerate the chemicals and materials industry growth, thereby restraining the growth of various markets related to this industry in the coming months.

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Aerospace Coating Market: End User

Based on end user, the aerospace coating market has been segmented into commercial aviation, military aviation, and general aviation. The commercial aviation segment accounted for the largest share in the market in 2019. In recent years, commercial aviation has become one of the most lucrative marketplaces for aerospace coating providers. Commercial aviation is considered as a part of civil aviation. The increase in the number of air travelers, rise in international trade, and surge in cargo traffic has led to the expansion of the commercial aviation industry which is driving the segment growth.

Aerospace Coating Market: Competitive Landscape and Key Developments

Akzo Nobel N.V.; BASF SE; Hardide plc.; Henkel AG & Co. KGaA; Hentzen Coatings; IHI Ionbond AG; Mankiewicz Group; PPG Industries, Inc.; The Sherwin-Williams Company; and Zircotec are among the major players present in the aerospace coating market.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Website: http://www.theinsightpartners.com/pr/aerospace-coating-market

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