Press release
Stealth Coating Market Sales Revenue to Touch $375.0 million By 2027 | Major Companies, Strategies and New Trends
The global stealth coating market was valued at $249.0 million in 2019, and is projected to reach $375.0 million by 2027, growing at a CAGR of 5.3% from 2020 to 2027.
The global stealth coating market is primarily driven by surge in demand for stealth coatings from aerospace & defense and automotive industry as these coatings provide several properties such as strength, durability, and chemical resistance. In addition, stealth coatings have a very high heat deflection temperature and provides a scratch and impact-resistant finish. Furthermore, it also provides a high level of ultraviolet (UV) & water resistance and are easy to clean.
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In addition, consumption of stealth coating across the U.S. has been increased significantly in past three decades, owing to surge in production of stealth aircrafts, naval ships, and drones such as F-22 Raptor, F-35 Lightning II, and B-2 Spirit, Independence-class littoral combat ship, Zumwalt-class destroyer, Northrop Grumman RQ-180, and Lockheed Martin RQ-170 Sentinel. In addition, countries such as Russia and China have also developed stealth aircrafts such as Sukhoi Su-57 and Chengdu J-20, and are investing heavily on the development of stealth technology, which is likely to surge the demand for stealth coating during the forecast period.
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However, high cost of stealth coating and decline in production of stealth aircrafts, ships, and drones amid the lockdowns declared by the government of various countries such as Russia, China, and Russia due to outbreak of COVID-19 pandemic is expected to restrain the stealth coating market growth. Furthermore, surge in investment by developing countries such as China and India in the development and production of stealth aircrafts, ships, and drones are likely to provide opportunities for the growth of the global stealth coating market.
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COVID-19 scenario analysis:
The coronavirus (COVID-19) pandemic situation has declined the sales of stealth coating. Due to COVID-19 pandemic the stealth aircraft manufacturing companies across the globe have halted their production activities amid lockdown. Due to this the demand for stealth coating has been hampered significantly. In addition, due to disrupted supply of automotive component amid lockdown the automobile manufacturers have halted their operation. This factor has led to decline in demand for stealth coating from the automotive industry.
Key Market Players:
► Hyper Stealth Technologies Pvt Ltd.
► Veil Corporation
► Micromag
► Intermat Defense
► Stealth Coatings Inc.
► CFI Solutions
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