What is the future of Aerospace & Defense Coatings
Market? Know Covid Impact on Size, Share & Forecasts

09 March 2021, IndustryNewsGlobal
// -- The unexpected shifts in the global markets
because of the sudden outbreak of the COVID-19 virus have brought many major
and minor tremors to industries of all sizes including the Aerospace Coatings
Market.

The
Aerospace Coatings Market is projected to grow at a healthy CAGR of 6.0%
over the next five years to reach US$ 1,097.8 million in 2022.
Increasing deliveries of commercial and regional aircraft; increasing mergers
and acquisition and re-branding activities in the global airline industry; high
need for coatings with an excellent durability and longer maintenance cycle;
stringent government emission regulations, such as REACH (Registration,
Evaluation, Authorization, and Restriction of Chemicals) and Euro Zone Crisis
2012; rising demand for eco-friendly coats; and innovations in coating products
are the major driving forces of the aerospace coatings market.

Aerospace Coatings Market Segment
Insights:

By
Resin Type:

Polyurethane is projected
to remain the largest resin type in the aerospace and defense coating market
during the forecast period of 2017-2022. This coating type is also likely to
witness the highest growth during the same period. Abrasion resistance,
chemical resistance, protection against UV rays, good wet look, and excellent
adhesion to substrates at a relatively low cost are the key features that have
escalated the demand for polyurethane coatings in the aerospace & defense
industry. Furthermore, regulations for the reduction of volatile organic
compounds (VOCs) and requirements for chrome-free inhibitors creates an
additional demand for this coating type in the aerospace & defense
industry.

By
Aircraft Type:

Commercial aircraft has
been the largest segment and is forecasted to remain the largest segment over
the next five years as well. The segment is also likely to witness the highest
growth during the forecast period, driven by increasing production rate of
major commercial aircraft, such as B737, A320 family, A350XWB, and B737;
expected entry of upcoming aircraft, such as Comac C919; rising aircraft fleet;
and higher M&A and re-branding activities in the airline industry.

By
Technology Type:

Liquid coating is
projected to remain the largest technology type in the aerospace & defense
coatings market during the forecast period, propelled by their better coverage,
better metal protection, corrosion resistance, and an excellent smooth surface
finish. Within liquid coatings, solvent-based coating is the most dominant
technology whereas water-based coating is the fastest-growing technology
because of its environmentally friendly nature.

By End-User Type:

Both OEM and MRO are
expected to experience healthy growth rates in the aerospace & defense
coatings market during the forecast period. Increasing aircraft production and
increasing merger and acquisitions and re-branding activities are driving both
segments.

By
Region:

Asia-Pacific
is expected to remain the largest and the fastest-growing market for coatings
in aerospace and defense industry during the forecast period. Increasing
passenger traffic in Asia-Pacific region, primarily in China and India, is
driving the commercial aerospace industry. This would lead to the highest
demand for coatings in the region. Additionally, the upcoming indigenous
commercial and regional aircraft, such as Comac C919 and Mitsubishi MRJ is also
pushing the demand for coatings in Asia-Pacific region.

Features of the Report

This
report offers high-quality insights and is the outcome of detailed research
methodology comprising extensive secondary research, rigorous primary
interviews with industry stakeholders and validation and triangulation with
Stratview Research’s internal database and statistical tools.

Based on the research, a
proper report is crafted with the following key features:

·        
Market
structure: Overview, industry life cycle analysis, supply chain analysis

·        
COVID-19
Impact Assessment

·        
Market
environment analysis: Growth drivers and constraints, Porter’s five forces
analysis, SWOT analysis

·        
Market trend
and forecast analysis

·        
Market segment
trend and forecast

·        
Competitive
landscape and dynamics: Market share, product portfolio, product launches, etc.

·        
Attractive
market segments and associated growth opportunities

·        
Emerging
trends

·        
Strategic
growth opportunities for the existing and new players

·        
Key success
factors