Aerospace Coatings Market by Aircraft (Commercial Aircraft, Military aircraft, Helicopters, Spacecraft)2018-2024

In recent times, Aerospace Coatings Market is characterized by a plethora of contemporary product innovations, inherently influenced by the sustainability march across the globe. It has been observed that research efforts have been focused on developing smart multifunctional coatings that not only ensure improved functionality but also are environmentally viable. Citing a recent instance of the same, Airbus and Lufthansa, two of the eminent aerospace giants have developed an ecofriendly coating solution dubbed as sharkskin for aircraft wings.

Researched at ZAL Centre of Applied Aeronautical Research, Hamburg, this groundbreaking coating technology is claimed to improve the fuel efficiency by reducing the airflow resistance. Reportedly, the ‘riblet’ aerospace coating having a structural resemblance with shark skin, may result in saving kerosene worth of almost USD 62 million per annum, reducing the carbon footprint by approximately 200000 tons. Considering the innovative product configuration and its proclaimed offering, experts have enough reason to believe that sharkskin would prove to be disruptive for the aerospace coatings industry trends in the coming years.

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Powered by a barrage of tech benefactors, aerospace coatings market has witnessed remarkable proceeds across a host of aviation fraternities including the likes of military, space, commercial etc. Even a few years back, the application significance of these coatings was deemed to be limited to protection and aesthetic appearance improvement. 

However, with technological proliferations and subsequent complexity in the aviation industry, the requirement of advanced coatings endorsed with features like faster drying time, lightweight, increased durability, and unique color styling has upscaled tremendously.

These ongoing developments and technological adoption in product designing is expected to conveniently help aerospace coatings industry to establish itself as a remunerative business space over the coming years. This is apparently quite vivid from the estimates by Global Market Insights, Inc. which claims aerospace coatings industry size to surpass the billion-dollar frontier by 2024.

The strategic landscape of aerospace coatings market is chronicled to be rather consolidated with renowned giants like Mankiewicz, PPG Industries, Akzo Nobel NV, Merck Performance, and BASF, procuring almost 50% of the global share. Amidst the intense share battle, product innovations via R&D investments is claimed to be one of the major parameters justifying the sustainability quotient of aerospace coatings industry participants.

In this regard, experts believe, developing economies can prove to be opportunistic investment spots for the market players, pertaining to the supply demand gap in these regions. All in all, with technological advancements in nanoparticle-based coatings and manufacturers’ constant effort in bringing cost effective solutions, the revenue graph of aerospace coatings market is sure to ascend over the ensuing years.

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