Aerospace Coating Market to Witness Exponential Growth by 2020
Posted by shahir on November 2nd, 2017
Aerospace coating is a high performance coating material. it is designed to resist temperatures fluctuation, variable air pressure, and different air instability. Some of the most important features of aerospace coating include, protection versus temperature fluctuations, protection against Intense UV exposure at higher altitudes, Chemicals attack (such as fuel, cleaning chemicals, hydraulic fluid), humid conditions and Corrosion
On the basis of end user application, the global aerospace coating market can be divided in three broad categories namely Commercial aerospace coating, Military aerospace coating, and general aviation aerospace coating. With more than 50% market share commercial aerospace coating held the largest segment in 2013.
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Based on the user type, the global aerospace coating market can be further characterize in two broad categories namely original equipment manufacturer (OEM) and maintenance, repair & overhaul (MRO)
Advancement in the field of chromo free technology coupled with evolution of environment-friendly coating product are driving the market for aerospace coating, in addition growing civil aviation owing to development of new airports and air services in developing countries such India and china has helping the aerospace market in this region. The growing engineering and design services industry of India is offering new growth opportunity for aerospace coating market in this region.
The aerospace coating is highly consolidated industry with top five companies holding about 50% of the market share. The use of Nano technology to enhance the performance of the aerospace coating is providing new growth opportunity for the global aerospace coating market.
Asia Pacific is the largest market of aerospace coating attributed to demand from china and increased air defense budget of developing countries in this region. North America was the second largest market of aerospace coating in 2013 followed by Europe and Rest of the World (RoW). Both North American and European market is heading towards maturity and growth is mainly accepted from growing economy of Asia Pacific. Aerospace coating market in Asia Pacific is growing at a healthy rate and with growing aviation industry in this region the market is expected to grow at even higher rate in upcoming years.
