Fact.MR’s Aerospace Coatings sales outlook offers category and segment level analysis that provides insights on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.
Award-winning consulting firm Fact.MR’s demand for aerospace coatings market report forecasts a robust expansion trajectory, estimating a CAGR of nearly 6% from 2021-2031, with the market topping US$ 2 billion valuation by 2031. Growth is expected to remain underpinned by extensive uptake across the military segment.
The market posted significant gains in the past, being valued at just over US$ 1 billion in 2017. Prospects dipped during the COVID-19 pandemic throughout 2020, as cross-border passenger air travel ceased so as to contain the virus. The market experienced a growth rate of under 5% from 2016 and 2020.
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According to the Stockholm International Peace Research Institute (SIPRI), global military expenditure was estimated at nearly US$ 2 trillion in 2019, expanding by 3.6% in real terms as compared to 2018, with bulk of it contributed by the U.S (US$ 732 billion), followed by China (US$ 261 billion), and India (US$ 71 billion). As such, investments in military aircraft have also surged, paving the way for enhanced uptake of aerospace coatings to ensure longevity and durability of existing fleet.
Key Takeaways from Market Study
Competitive Landscape
Prominent players in the aerospace coatings landscape rely on a slew of expansion strategies, including new product launches, collaborations with existing manufacturers and outright mergers & acquisitions.
Notable developments in this space are as follows:
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Key players operating in the Aerospace Coatings Market profiled by Fact.MR includes
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the aerospace coatings market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
Key Questions Answered in Report
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