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Aircraft Paint Market Size, Restraints, Drivers, Trends And Analysis 2024-2033
Aircraft Paint Market Size
According to The Business Research Company's, The aircraft paint market size has grown strongly in recent years. It will grow from $4.05 billion in 2023 to $4.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to material science developments, economic factors, globalization, fleet expansion, environmental concerns.
The aircraft paint market size is expected to see strong growth in the next few years. It will grow to $5.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to renovation and maintenance, aesthetic customization, rising focus on fuel efficiency, aircraft fleet expansion. Major trends in the forecast period include digitalization, antimicrobial coatings, heat-reflective coatings, nanotechnology, advanced coatings.
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Market Drivers and Trends:
The increasing production and delivery of new aircraft is expected to propel the growth of the aircraft paint market going forward. Aircraft are vehicles designed for air travel, including airplanes, helicopters, and drones. The production and delivery of new aircraft are increasing due to growing demand from airlines seeking to modernize fleets, expand routes, and meet rising passenger travel needs globally. Aircraft paint is applied in aircraft production primarily to protect against corrosion and environmental damage and enhance aesthetics. For instance, in June 2023, according to the Boeing Company, a US-based aircraft industry company, the global aviation industry is projected to experience robust demand, with an anticipated need for 42,595 new commercial jets valued at $8 trillion by 2042. Moreover, in November 2022, according to a report published by CAPA - Centre for Aviation, Airbus and Boeing, OEMs expect to deliver more than 1000 aircraft in 2022, and both plans call for stepping up production even more in 2023. Therefore, increasing production and delivery of new aircraft is driving the growth of the aircraft paint market.
Major companies operating in the aircraft paint market are focused on developing innovative products, such as aerospace conductive coatings, to enhance aircraft functionality and safety. Aerospace conductive coatings are used to provide electromagnetic interference (EMI) shielding and static dissipation on aircraft components, helping to safeguard sensitive electronic systems and ensure proper functioning in aerospace environments. For instance, in November 2023, Sherwin-Williams, a US-based company engaged in the coating business, launched a new aerospace conductive coating (CM0485115) to its line of undercoats, enabling aircraft owners to impart conductivity onto aluminum and composite substrates. The coating offers high conductivity to non-conductive substrates by producing an anti-static conductive film on their surfaces with a resistivity of 0.1 to 100,000 ohms per square meter to help static charges dissipate from antennas and radomes. It's compatible with all non-electrostatic spray equipment, suitable for pre-primed aluminum and composite substrates for high conductivity, ideally applied in one continuous film or with a cross coat, adaptable to various environmental conditions, and can be air-cured or force-dried, offering applicators flexibility.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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Major Key Players of the Market:
Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Jotun Aerospace, Nihon Parkerizing Co. Ltd., Chemetall, Mankiewicz Gebr. & Co., Satys, IHI Ionbond AG, Hentzen Coatings Inc., Novaria Group, Mapaero Inc., HMG Aerospace, Nycote Laboratories Corporation, BASF Coatings GmbH, Resoltech, Zircotec, Altech Anodizing Ltd., Zircotec Ltd., GKN Aerospace Chem-Tronics Inc., Chromalloy Gas Turbine LLC, Permagard Inc., JetCote
Aircraft Paint Market 2024 Key Insights:
• The aircraft paint market size is expected to see strong growth in the next few years. It will grow to $5.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Surging Production And Delivery Of New Aircraft
• Advancements In Aerospace Conductive Coatings Enhances Aircraft Safety And Functionality
• North America was the largest region in the aircraft paint market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.""
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