The Military Aerospace Coatings Market is projected to grow from USD 310.7 million in 2018 to USD 390.7 million by 2023, at a CAGR of 4.69% between 2018 and 2023. North America is the largest consumer of military aerospace coatings. The military aerospace coatings market in the North America region is witnessing high demand from various new OEMs manufacturing rotary wing and fixed wing military aircraft.
Browse 96 market data Tables and 39 Figures spread through 105 Pages and in-depth TOC on “Military Aerospace Coatings Market by Resin Type (Polyurethane and Epoxy), Technology (Liquid and Powder), User Type (OEM and MRO), Aircraft Type (Fixed Wing and Rotary Wing), and Region (North America, Europe, APAC) – Global Forecast to 2023”
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The demand for military aerospace coatings for different military aircraft is high, especially in Russia, the US, China, and India. Competition among countries to become global superpowers, empowerment of their defense sectors, and the adoption of emerging technologies and innovations are expected to drive the demand for military aerospace coatings in these industries. APAC is projected to witness strong growth over the next 5 years followed by North America and Europe.
Different types of military aerospace coatings are used in aircraft, based on the requirements and durability of products. These have distinct properties, which vary according to application requirements. Military aerospace coatings are classified based on resin types, namely, polyurethane, epoxy, and others. Demand in the coating market is based on the demand for coat layers, such as base coat, and top coat. Generally, polyurethane is applied as a top coat and epoxy is applied as a primer. The growing demand for military aerospace coatings from the APAC and North America regions is expected to drive the market. However, government regulations and policies consume time due to the required approvals andare affecting market growth.
PPG Industries (US) manufactures and distributes coatings and glass products. The company operates through two business units, namely, performance coatings and industrial coatings. The company also provides industrial and automotive coatings to manufacturing companies. The company has 140 manufacturing facilities in 40 countries. In June 2017, PPG (US) completed the construction of a USD 49 million paints and coatings manufacturing facility and started operations in the Lipetsk region of Russia. The site is expected to produce about 25 million liters of coatings at full capacity and caters to the demand for coatings in Russia. The company has been acquiring emerging companies in the military aerospace coatings market. For example, in July 2017, PPG acquired the Crown Group, a US-based leader in the coatings application services business. This acquisition is expected to enhance PPG’s ability to service its Original Equipment Manufacturer (OEM) customers and help cater to the demand for coatings in the North American region.
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Rising demand from emerging economies is expected to drive the military aerospace coatings market during the forecast period
North America is expected to account for the largest share of the military aerospace coatings market, in terms of both, volume and value by 2023. But, the military aerospace coatings market in APAC is projected to grow at the highest CAGR between 2018 and 2023, in terms of value, because of the increasing number of aircraft deliveries and increasing budgets of defense sectors of China and India. China is estimated to be the leading country in the APAC military aerospace coatings market in 2018, owing to the increase in demand from the OEM and MRO user types.
Key players profiled in the military aerospace coatings market report include PPG (US), Akzo Nobel (Netherlands), Sherwin-Williams (US), Hentzen Coatings (US), Mapaero (France), 3Chem (US), Creative Coatings (US), and Qioptiq (UK).
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