A plane must be able to survive extreme weather, flex, bends, and chemicals, among other things. As a result, aircraft paint is a specific sort of paint that is used to paint commercial aircraft, whether new or old. Epoxy and enamel paints are the most common types of paint used for these applications. These coatings are frequently costly, but they are believed to be extremely durable because aircraft operate in harsh environments. Since aviation paint, unlike other paints used in autos and buildings, fades over time, airlines like to have their planes painted to match their designs and colors. The expanding aviation industry has resulted in a rise in the number of aircraft trips, resulting in increased wear and tear. Additionally, rising airline company investments in the procurement of new next-generation aircraft are expected to boost market growth throughout the forecast period.
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Companies covered: Praxair S.T. Technology Inc., A&A Thermal Spray Coatings, TURBOCAM Inc., APS Materials Inc., United coatings Group, DowDuPont Inc., PPG Industries Inc., Indestructible Paint Limited, Chromalloy Gas Turbine LLC, OC Oerlikon Corporation AG.
COVID-19 Impact analysis
The outbreak of the disease is expected to moderately stifle growth of aircraft paint market in the short term, owing to the temporary suspension of activities across the aviation sector as a result of government restrictions such as travel bans and nationwide lockdowns in many parts of the world, which have had a negative impact on the commercial aviation sector as the tourism sector is down. The logistics business was further damaged by global trade restrictions. Furthermore, a halt in aircraft production due to a lack of manpower and raw materials as a result of supply chain disruption might restrict market growth for the next six to eight months. As a result, the frequency of air travel has decreased significantly since the outbreak was declared a pandemic by the World Health Organization, which is difficult to contain. Even though the pandemic’s duration is still unknown, a drop in aircraft production and maintenance is expected in the short term. Thus, all such factors are anticipated to inhibit commercial aviation aircraft paint market growth.
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Top impacting factor
Adoption in the usage of a material mix, expansion of the commercial aviation industry, and increase in the number of aircraft trips is expected to drive the growth of the aircraft paints market during the forecast period.
Aircraft repairs and maintenance, and harmful volatile organic compounds (VOCs) released during coating operations are the restraints that hindered the growth of the aircraft paint market.
Increase in air travel demand due to affordable carriers in the emerging regions, and adoption of narrow body aircraft offers an opportunity to the aircraft paints market.
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Expansion of the commercial aviation industry
The commercial aviation sector encompasses the portion of civil aviation that involves the hiring of aircraft for passenger or cargo transport activities. The market is primarily driven by the fact that the global aviation business is expanding as a result of the global tourism industry’s expansion. The increase in the number of flights each flight is also boosting the market, since more journeys will result in earlier deterioration of the plane’s paint, which will boost demand. The rising number of aircraft deliveries, owing to the increasing number of daily air passengers as well as the need to replace the ageing aircraft fleet, is predicted to boost demand for aviation aircraft paint. This can be backed up by the fact that the number of air passengers who have traveled through air transport has increased at a significant pace in the past years. For instance, the tourism industry is growing primarily due to the availability of cheap air tickets and the increased propensity of travelers to spend on holidays and leisure trips, which is further propelling the adoption of air transport as a means of travel. The growing business travelers coupled with the increase in the air cargo load are some of the additional factors augmenting the global commercial aviation industry and the demand for aircraft paint market.
Adoption of narrow body aircraft
Narrow-bodied aircraft are expected to see promising growth, owing to the growing demand for narrow-body aircraft and the necessity to replace many outdated mid-size aircraft due to operating efficiency, which has resulted in a major increase in production. During the projection period, the rising number of aircraft launches in the narrow-body sector is also favorably influencing the growth of the aviation paint market. For instance, Embraer plans to bring to the new Super Mid-Size Praetor 600 aircraft in Q2 and the Mid-Size Praetor 500 in Q3. Wide body aircraft to hold a substantial market share throughout the forecast period due to the growing demand for large-sized aircraft owing to the expanding fleet size.
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Key Benefits of the Report
This study presents the analytical depiction of the aircraft paint market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges the aircraft paint market.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the market growth scenario.
The report provides a detailed aircraft paint market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the aircraft paint market research report:
Who are the leading players in the aircraft paint market?
What are the critical challenges faced by manufacturers in the aircraft paint market?
What are the market trends, driving factor and opportunities involved in this market?
What are the key segments covered in the aircraft paint market?
What are the projections for the future that would help in taking further strategic step?
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