Aerospace Coatings Market Size | Opportunity Analysis Report by 2026

Aerospace coatings market revenue is anticipated to hit $1.2 billion through 2026. Moreover, the increasing demand for commercial aircrafts in APAC region will further drive the product adoption. Additionally, increasing defense & military spending in North America and the existence of a mature aerospace sector in the region will also drive the product use in the coming years.

Rising commercial aircraft demand due to the growing need to replace ageing aircraft fleets is expected to boost aerospace coatings market growth over the forthcoming time period. Despite the coronavirus pandemic adversely affecting airlines, the industry is expected to bounce back as soon as things get back to normal. In fact, nearly 40,000 commercial aircrafts are needed over the coming two decades.

Brycoat Inc, Heinkel, Akzo Nobel NV, PPG Industries, and BASF are some of the prominent players operating in the aerospace coating market.

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The epoxy resin segment of the aerospace coatings industry is likely to hold more than 45% if the industry share by 2026. Epoxy resins are ideal owing to their durability, strength, and chemical resistance. The water-based coatings are projected to be the most rapidly growing technology segment over the coming years owing to strict regulations concerning VOC emissions for solvent-based coatings.

The powder coatings segment will register a 10% share in the market by 2026. Several stringent environmental regulations on the coatings market are expected to encourage growth of the powder coatings market share over the forecast time period. Moreover, the revenue generated by OEMs is also expected to surpass $650 million by 2026.

The helicopter aircraft category will surpass approximately $200 million by 2026. The escalating helicopter fleet size for military applications in developing as well as developed economies will further soar up the demand for aerospace coatings.

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The interior application segment is slated to register a CAGR of over 6.5% over the estimated time period. Interior upgradation and expanding focus on cabin modification in aircraft is to improve customers experience will boost the demand in the interior application segment.

Rising commercial aircraft demand and the projected increase in the number of air travelers, despite the current business scenario caused by the coronavirus, are the key factors that are expected to propel the aerospace coatings market share. Other factors that will further drive product consumption in the region are spending power, and economic development. The APAC aerospace coatings industry will surpass nearly $330 million by 2026.

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