New York City, NY, 19 September, 2019/ 24 Market Reports: This report studies the Military Aerospace Coatings Market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyzes the top players in global and major regions
It is estimated for the military aerospace coatings market to reach USD 390.7 million by 2023 from that of 310.5 million in 2018 at a CAGR of 4.69% during the forecast period. The different user type aerospace coatings such as OEM and MRO is driving the growth of the market.
APAC region to lead the market in the forecast period
The aerospace coatings for different military aircraft varies and so as the demand of the aerospace coatings, especially in the countries such as Russia, India, the U.S., and China. The adoption of the advanced technologies to boost the power of the defence sector, the competition among the countries to become global superpowers, and the empowerment of their defence sectors are the factors boosting the growth of the market. Followed by North America and Europe the APAC region is expected to register strong growth during the forecast period.
Growth in the military aerospace sector is driving the growth of the coatings market
The requirements and the durability of products determine the type of aerospace coating an aeroplane requires. The properties vary according to the varying requirements. Classification of the military aerospace coatings based on resin types is epoxy, polyurethane, and others.
Generally, epoxy is applied as a premier whereas, polyurethane is applied as a topcoat. The growing demand for the military aerospace market especially in North America and APAC region is expected to drive the growth for the aerospace coatings market. However, the time consumption processes due to government regulations and policies are the restraints for the growth of this market.
Products based on solvent-based technologies, such as those containing VOCs are affecting the environment in most countries in Europe and North America and backlogs created due to coatings, and other safety regulations are restraining the growth of the military aerospace coatings market in these regions.
Market segmentation of the aerospace coatings market
The market can be segmented based on application, product type and region. OEMs and MRO are the categories for the application segment. Solvent-based coatings and water-based coatings are the sub-segments of the product-type segment. The U.S, European Union, China, and Rest of the World are the categories for segmentation based on region.
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