Coatings World - May 2016

Catherine Diamond, Associate Editor

The global aerospace market, driven in large part by the Asia-Pacific region, is expected to be worth an estimated $2,991.38 million by 2019. Markets and Markets, a global market research and consulting company, recently announced these findings in a report titled Aerospace Coatings Market by End-user Industry (Commercial, Military & General Aviation), by User Type (Original Equipment Manufacturer (OEM) & Maintenance, Repair & Overhaul (MRO)), & by Region (North America, Europe, Asia-Pacific, & Row) - Global Forecast to 2019, which analyzes the global aerospace coatings market in regard to market drivers, trends and regions.

According to the report, the global aerospace coatings mar-
ket is significantly penetrating its end-user industries, while the
characteristics of the end-products differ as per the requirement
of end-user industries and for different user types. Researchers
found that the commercial segment has dominated the aerospace
coatings industry, largely driven by the entry of new airlines and
expansion of existing airlines.

“The Asia-Pacific region is estimated to grow at a high CAGR of 7.79 percent from 2014 to 2019 with its growing demand for aerospace coatings in different end-user industries, especially for commercial and military segments. The aerospace coatings market in North America is estimated to grow at a CAGR of 5.05 percent from 2014 to 2019,” the report stated.

Researchers at Markets and Markets found that the U.S., China, Japan, France, Germany, India and Russia are expected to persist as successful aerospace coatings markets. The markets in China and India are driving the Asia-Pacific aerospace coatings market due to increasing cargo traffic, rising number of air travellers, and international trade.

The market size, in terms of value, of the global aerospace coatings market was estimated at $2,109.64 million in 2013 and is projected to reach $2,991.38 million by 2019, at a CAGR of 5.96 percent from 2014.