Aircraft Paint Market Growth Analysis With Investment Opportunities
Aircraft Paint Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's AI in Aircraft Paint Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 21, 2024 /EINPresswire.com/ -- The aircraft paint market is poised for significant growth, expanding from $4.05 billion in 2023 to $4.27 billion in 2024, at a compound annual growth rate (CAGR) of 5.4%. This growth is driven by advancements in material science, economic factors, globalization, fleet expansion, and environmental concerns. By 2028, the market is expected to reach $5.32 billion, growing at a CAGR of 5.7%. Key factors contributing to this forecasted growth include renovation and maintenance, aesthetic customization, rising focus on fuel efficiency, and continued aircraft fleet expansion.
Increasing Aircraft Production and Delivery Fuels Market Growth
The production and delivery of new aircraft are crucial drivers for the aircraft paint market. As airlines globally seek to modernize fleets, expand routes, and meet increasing passenger travel demands, the need for aircraft paint to protect against corrosion and environmental damage and enhance aesthetics grows. For instance, according to Boeing Company, the global aviation industry is projected to require 42,595 new commercial jets valued at $8 trillion by 2042. Additionally, Airbus and Boeing expected to deliver over 1,000 aircraft in 2022, with plans to increase production in 2023. These trends underscore the robust demand for aircraft paint in the coming years.
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Key Players and Market Trends
Major companies operating in the aircraft paint market include 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., and JetCote. These companies are focused on developing innovative products to enhance aircraft functionality and safety. For instance, Sherwin-Williams launched a new aerospace conductive coating (CM0485115) in November 2023, designed to provide electromagnetic interference (EMI) shielding and static dissipation on aircraft components.
Segments
• Type: Liquid Coating, Powder Coating
• Application: Exterior, Interior
• End-User: Commercial, Military, General Aviation
Geographical Insights: North America Leading, Asia-Pacific Fastest Growing
North America was the largest region in the aircraft paint market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Aircraft Paint Global Market Report 2024 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Aircraft Paint Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on aircraft paint market size, aircraft paint market drivers and trends, aircraft paint market major players, competitors' revenues, market positioning, and market growth across geographies. The aircraft paint market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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