Aerospace Coatings Market Analysis

Aerospace Coatings Market Analysis

Polyurethane resins in the market will witness a growth of over 6.5% though 2026. It can be attributed to several advantages associated with this resin type such as durability, flexibility, resistance against abrasion, staining and chemicals, etc. These resins provide higher resistance to the corrosive effects due to UV rays.

Solvent-based aerospace coatings market size valued at over USD 480 million in 2019. It can be majorly credited to extensive application of these products in military aircrafts. Solvent-based topcoat provides excellent camouflage and colour, chemical resistance and enhances external durability properties. It provides faster drying time even in humid weather. However, stringent VOC regulations might hamper the growth of this technology segment.

OEM segment is likely register gains at over 6%till 2026. Major investments in the emerging economies to develop new air routes along with upgradation of existing airports will drive the growth of this segment. Moreover, rising number of air passengers, increasing aircraft production, etc. will also augment the segment demand.

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In 2019, the military aircraft segment generated more than USD 290 million revenue in the aerospace coatings market. Rising aerospace & defense spending across the globe will chiefly drive the growth of this aircraft segment. Rising military aircraft deliveries maritime & border missions will positively influence the market growth.

Exterior coatings segment is likely to dominate the market with more than four-fifth revenue share. The high demand for aerospace coatings in exterior applications is owing to requirement for coating to safeguard from extreme weather conditions.

A giant A380 Airbus requires an average of around 480 kgs of coating. Additionally, after every 5 to 8 years, airline repairs their planes, which needs extensive downtime, especially for repairing paint. In order to reduce the downtime, these airlines prefer advance coating technologies. Rising demand for commercial aircrafts will drive the growth of this application segment.

North America aerospace coatings market dominated around one-third revenue share in 2019 impelled by presence of major A&D manufacturers in the region. Aerospace & defense industry in the U.S. generated over USD 850 billion in 2017.

Moreover, in 2018, the U.S. military & defense expenditure was recorded at around USD 630 billion. Presence of rising demand for commercial aircrafts and ongoing research & development projects to reduce emission is expected to influence the market size across the region.