Over the years, several government bodies across the globe have been investing significantly in the aerospace sector, contributing to market enlargement. Aircraft coatings protect the outer body from corrosion, erosion, UV radiation and temperature variation in extreme conditions. Aircraft producers are focusing on using high-quality aircraft coatings and paints in their manufacturing process to enhance corrosion protection, improve the strength of metal substrate and add an aesthetic appeal. The aircraft coatings manufacturers regularly innovate to reduce the overall manufacturing cost and product performance. Aircraft coatings has achieved prominence in the industry in the last decade owing to its benefits, such as confinement of shiny color for a longer duration and protection from dirt.
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Aircraft Coatings Market: Dynamics
The growing aerospace industry has also created a broad opportunity for aircraft coatings market. Due to the rising passenger traffic, accelerated equipment replacement cycles, decreasing crude oil prices and an increase in defense spending has also created a demand for aircraft coatings market. Over the years, the Aircraft Coatings Market has gained massive traction and is estimated to continue this trend during the forecast period. Chrome-free technologies is attracting the demand in aircraft coatings segment as it protects planes against UV exposure at high altitude, corrosion and temperature change. The demand for aircraft coatings is attributed to the presence of several established market players and new entrants. The increasing industrial production and global trade are driving the growth of cargo services around the world and boosting the demand for the production of new commercial aircraft coatings market. These factors are expected to provide ample opportunities for growth in the consumption of nano paints and coatings used in the aerospace industry.
Aircraft Coatings Market: Regional Analysis
The global market for aircraft coatings is anticipated to create remunerative opportunities in the aviation sector over the forecast period. The global aircraft coatings market is segmented into eight regions: North America, Europe, MEA, East Asia, South Asia, Oceania, Latin America and the Middle East and Africa. Globally, North America holds the highest market share in the aircraft coatings market with the U.S. being a major market for aircraft coatings followed by Europe.
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The North American region is the manufacturing capital of aerospace industry with the presence of several large-to small-sized OEMs, tier players, distributors, fastener manufacturers and airline companies. The U.S. is home to most of the prominent aircraft makers including Boeing, Airbus and Cessna. Asia Pacific is likely to witness highest growth during the period, driven by a host of factors including increasing demand for commercial aircraft and the opening of assembly plants of Boeing and Airbus in China. The major Asian economies, such as India, China and South Korea, has steadily been raising their defense budget to advance their defense capabilities.
Aircraft Coatings Market: Key Manufacturers
Some of the key companies involved in the manufacturing of aircraft coatings includes – Jaco aerospace & industrial, 3 CHEM, Sunaero Aerowing, Airborne colours, Akzonobel paints & coatings, PPG industries, International Aerospace Coatings (IAC) and alliance coatings INC.
The research report presents a comprehensive assessment of the aircraft coatings market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to aircraft coatings market segments such as aircraft type, resin type, application, user, and technology.
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Aircraft Coatings Market Insights Focusing on Primary Trends until 2029
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