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
The military aerospace coatings market is projected to grow at a CAGR of 4.69% from 2018 to 2023.
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. The growing demand from user types, such as OEMs and MROs for different military aircraft, such as fixed wing and rotary wing is expected to fuel the growth of the military aerospace coatings market. However, the backlog created due to coating and other safety regulations is expected to restrain the growth of the military aerospace coatings market during the forecast period.
Liquid-based technology is the largest technology type segment of the military aerospace coatings market
Military aerospace coatings are based upon various technologies, such as liquid and powder. Furthermore, the liquid technology segment is subsegmented into solvent-based and water-based technology. The superior coverage on the inner corners and hard to reach places, smoother and more uniform finish are factors leading to the increasing demand for the liquid-based coating technology, which is expected to drive the growth of the military aerospace coatings market in the liquid technology segment during the forecast period.
Rising demand from North America makes it the largest market of the military aerospace coatings market
APAC is projected to be the fastest-growing market, in terms of both, volume and value, during the forecast period. However, the military aerospace coatings market in North America is estimated to account for the largest share in 2018, in terms of both, volume and value. The North American military aerospace coatings market is driven by the extensive distribution systems, highly skilled labor, and strong government support. The US remained the world's largest spender with military spending of USD 610 billion in 2017.
Extensive primary interviews have been conducted, and information has been gathered from secondary research to determine and verify the market size of several segments and subsegments.
Breakup of Primary Interviews:
By Company Type: Tier 1 - 58%, Tier 2 - 33%, and Tier 3 - 9%
By Designation: D Level - 50%, C Level - 33%, and Others - 17%
By Region: North America - 33%, Europe - 30%, Asia Pacific - 16%, South America- 14% and Middle East & Africa - 7%
Key companies profiled in this report are PPG (US), Akzo Nobel (Netherlands), Sherwin-Williams (US), Hentzen Coatings (US), Mapaero (France), 3Chem (US), Creative Coatings (US), and Qioptiq (UK).
The military aerospace coatings market has been segmented on the basis of resin type (polyurethane, epoxy, and others), technology (liquid-based and powder-based), user type (OEM and MRO), aircraft type (fixed wing and rotary wing), and region (North America, Europe, APAC, Middle East & Africa, and South America). The aircraft type segment is further analyzed for each country in respective regions.
Reasons to buy the Report
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on military aerospace coatings offered by top players in the military aerospace coatings market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the military aerospace coatings market.
Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the market for military aerospace coatings across regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the military aerospace coatings market.
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the military aerospace coatings market.