Study Reports Exterior Applications Account for Majority of Aerospace Coatings Demand
PUNE, India – Persistence Market Research has released a study of the aerospace coatings market that projects promising expansion during the next decade of approximately $1.5 billion. The demand for aerospace coatings will receive strong impetus from increasing aircraft production and sales. Due to the increasing demand for efficient, lightweight and advanced aerospace coatings from several airline carriers, the global aerospace coatings market is estimated to create an incremental opportunity of over a billion dollars between 2018 and 2028.
The global aerospace coatings market is directly dependent on the production and sales of aircraft: the higher the demand for new aircraft, the higher the demand for aerospace coatings in the market. The service life of external coatings is estimated to be around five years, depending on the number of hours travelled by the aircraft and the service environment. Therefore, aircraft need to be entirely recoated over a life span of three to five years. This is estimated to be the key factor driving the growth of the global aerospace coatings maintenance, repair, and overhaul (MRO) sales during the forecast period.