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.
North America holds a strong lead in the global market driven by a host of factors such as the 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.
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Increasing demand for corrosion resistance in the bestselling aircraft platforms such as A320, B787, and B777 (including new variants), which have the 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, the 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 the lifecycle of components.
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 about the ramp-up of the 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 the current rate of 40 per month to 43 in Q3 2021 and 45 in Q4 2021.
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Some of the major key players operating in the global Aerospace & Defense Coatings market are Akzo Nobel N.V., Argosy International, BASF SE, and 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. among others.
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