USD 88.21 billion
Military Aerospace Coatings Market Size, Share, Growth Analysis, By Resin Type(PU, Epoxy, Acrylic, Silicone), By Technology(Liquid-Based Technology, Solvent-Based Technology, Water-Based Technology, Powder-Based Technology), By End Use(Fixed-wing Aircraft, Rotary wing Aircraft), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2508 |
Region:
Global |
Published Date: April, 2024
Pages:
182
|Tables:
92
|Figures:
76
Military Aerospace Coatings Market Insights
Global Military Aerospace Coatings Market size was valued at USD 88.21 billion in 2022 and is poised to grow from USD 92.62 billion in 2023 to USD 136.84 billion by 2031, growing at a CAGR of 5% in the forecast period (2024-2031).
Coatings especially designed for military aircraft are known as military aerospace coatings and they are used for inner as well as outer surfaces of aircraft. Rapidly increasing military and defense expenditure around the world is projected to be a key factor promoting sales of military aerospace coatings. Advancements in the coating industry and the creation of novel coating solutions for the aerospace sector are also forecasted to benefit market development going forward. High emphasis on improving the stealth capabilities of military aircraft to gain an advantage in the global defense game will also promote the demand for advanced military aerospace coatings in the future. Replacement of old military aircraft with new generation aircraft is also a trend that will improve military aerospace coatings market growth potential in the future. Utilization of nanotechnology in the coating industry is a key trend that could create attractive new money-making opportunities for military aerospace coating companies going forward. On the contrary, high R&D and maintenance costs associated with advanced military aerospace coatings are estimated to slow down market development scope over the coming years.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
PU
Fastest Growth
Epoxy
Growth Rate
5% CAGR
Global Military Aerospace Coatings Market ($ Bn)
Country Share for North America Region (%)
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Military Aerospace Coatings Market Segmental Analysis
The global military aerospace coatings market is segmented based on technology, resin type, end use, and region. In terms of technology, the market is segmented into liquid-based technology, solvent-based technology, water-based technology, and powder-based technology. In terms of resin type, the market is bifurcated into PU, epoxy, acrylic, silicone, and others. Based on end use, the market is divided into fixed-wing aircraft and rotary wing aircraft. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Resin Type
PU (Polyurethane) resin is projected to account for a major chunk of the global military aerospace coatings market share. PU coatings have a high-end finish and create a tough and chemical-resistant coating, which helps military aircraft be safe from any type of chemical reaction due to exposure to moisture or any other chemicals. Good impact and abrasion resistance of PU coatings also help its dominance.
Meanwhile, the demand for epoxy resin coatings is slated to increase at a rapid pace across the forecast period. High heat resistance and waterproofing capabilities of epoxy resin coatings are key factors that help its popularity. Excellent adhesion of epoxy coatings is also slated to boost its demand going forward.
Analysis by Technology
Liquid-based technology is forecasted to account for a dominant stance in the global military aerospace coatings market. The ability of liquid-based coating technologies to reach all cracks and corners to provide a uniform smooth finish is what allows this segment to hold a major chunk of the market share.
Powder-based technology is estimated to emerge as the fastest-growing segment across the forecast period. Powder coating provide a long-lasting protection as compared to other types of coatings with added benefits of easy cleaning, vibration deadening, and abrasion resistance.
Global Military Aerospace Coatings Market By Resin Type
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Military Aerospace Coatings Market Regional Insights
North America is forecasted to account for a substantial share of the global military aerospace coatings market owing to the high military expenditure of countries in this region. High investments in the development of novel military aircraft and the presence of key aerospace companies are contributing to the dominance of this region. Canada and the United States are estimated to be the leading markets for military aerospace coating providers over the coming years.
Demand for military aerospace coatings in the Asia Pacific region is estimated to increase at a rapid pace across the forecast period and beyond. Rising spending on military and defense projects and the presence of a robust coating manufacturing industry are contributing to the rapid market growth in this region. Low labor and raw material costs are estimated to attract military aerospace coating manufacturers to this region going forward. China, Japan, and India are predicted to be the leading markets for military aerospace coating companies in the long run.
Global Military Aerospace Coatings Market By Region
- Largest
- Fastest
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Military Aerospace Coatings Market Dynamics
Drivers
High Spending on Military & Defense Applications
- Rising geopolitical tensions around the world are pushing countries to increase their spending on military & defense projects, this trend will also bolster the demand for military aircraft and thereby drive the demand for military aerospace coatings as well.
Emphasis on Improving Stealth Capabilities
- Military aerospace companies are focusing on improving their stealth capabilities by incorporating advanced military aerospace coatings that are also functional. Radar-absorbable and low-observant coatings are slated to witness high adoption as they bolster the stealth of military aircraft.
Restraints
High Costs of Maintenance and Development
- Development of advanced military aerospace coatings can be highly expensive as companies need to utilize advanced equipment in manufacturing processes. Moreover, maintaining these coatings also adds up to the overall costs and hampers market growth potential.
Imposition of Stringent Regulations
- Since military aerospace coatings are used in highly classified military projects they need to comply with strict regulations. Moreover, stringent regulations regarding sharing of intellectual property and commercialization of military-grade technologies could also hamper market development going forward.
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Military Aerospace Coatings Market Competitive Landscape
Military aerospace coating providers should invest in the research and development of novel products to stay ahead of the competition and launch novel products. Military aerospace coatings market players can also focus on collaborating and partnering with governments and military organizations to maximize their sales and revenue generation potential in the future. Use of nanotechnology and incorporation of sustainability are two key trends that companies can target to maximize their sales potential in the long run.
Top Player’s Company Profiles
- Mankiewicz
- Sherwin-Williams
- CREATIVE COATINGS
- Marpol Private Limited
- Kansai Paint Co. Ltd.
- Evonik Industries AG
- Klinge Coatings
- Valspar
- BryCoat Inc.
- PPG Industries
- Henkel
- 3Chem
- Akzo Nobel
- Zircotec
- CHASE CORPORATION
- Cloverdale Paint Inc.
- Hentzen Coatings
- BASF
- Klinge Enameling Inc.
- Argosy International Inc.
Recent Developments
- In December 2023, DuPont, a renowned multinational chemical company, announced the launch of new coatings at the Taipei Building Show in Taiwan. Tedlar® PVF solutions and PVF coatings were launched for interior aircraft applications and other applications.
- In 2022, PPG collaborated with defense organizations to develop innovative maintenance and repair solutions tailored to military aircraft, focusing on reducing downtime and enhancing operational readiness.
- In 2021, AkzoNobel announced the development of a new eco-friendly military aerospace coating with enhanced durability and corrosion resistance, targeting reduced environmental impact and compliance with stringent military standards
Military Aerospace Coatings Key Market Trends
Emphasis on Sustainable Coatings: Military aerospace coatings providers should focus on the creation of sustainable coatings that are compliant with the modern regulations issued by governments and regulatory bodies. Military aerospace coatings market players should completely abandon the use of VOCs (volatile organic compounds) and other toxic elements to take maximum benefit of the sustainability trend.
Military Aerospace Coatings Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, surge in military expenditure and advancements in coating technology are key factors promoting the demand for military aerospace coatings over the coming years. On the contrary, high costs of development and maintenance are estimated to hamper military aerospace coatings market growth potential in the future. North America is estimated to lead the demand for military aerospace coatings across the forecast period owing to high military spending in the United States and the presence of key aerospace companies. Military aerospace coating companies can focus on the development of coatings that are sustainable in nature and also utilize nanotechnology to improve the functionality of coatings.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 88.21 billion |
| Market size value in 2031 | USD 136.84 billion |
| Growth Rate | 5% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Military Aerospace Coatings Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Military Aerospace Coatings Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Military Aerospace Coatings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Military Aerospace Coatings Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Military Aerospace Coatings Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Military Aerospace Coatings Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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