Aircraft Paint Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Aircraft Paint Market Analysis
The aircraft paints market size is expected to grow from USD 1.32 billion in 2023 to USD 1.48 billion by 2028, registering a CAGR of 2.38% during the forecast period (2023-2028).
The growth of the aviation market, fuelled by increasing deliveries of commercial and military aircraft, is expected to drive the growth of the aircraft paints market during the forecast period. The need to refurbish the old aircraft that are in service is also generating revenues for the aircraft paints market. The development of new eco-friendly aircraft painting and coating products that can reduce weight and increase fuel efficiency is expected to impact the growth of the market. In April 2023, AkzoNobel developed the Aerofleet Coatings Management system, which uses data gathered over several years. It is to ensure that aircraft are only repainted when needed, not according to a fixed schedule alone.
Aircraft Paint Market Trends
Commercial Aviation Segment Accounts for the Highest Market Share
Currently, the commercial aircraft segment dominates the market, and it is expected to continue to hold a major share throughout the forecasted period. Passenger traffic is gradually recovering from the impact of the pandemic and is expected to surpass the pre-pandemic levels by the end of 2023. The recovery is attributed to growing domestic travel across the globe. With the growing domestic passengers, the demand for commercial aircraft is expected to witness robust growth in the coming years, with a subsequent demand impact on the aircraft's electrical systems. The procurement of aircraft by the airlines to cater to the increasing air travel also increased tremendously. By the end of 2022, Airbus had delivered 676 aircraft, and Boeing had delivered 480 aircraft. Thus, continuous production and deliveries of commercial aircraft are expected during the forecast period. The production and delivery of commercial aircraft are expected to drive the growth of the commercial segment of the aircraft paints market.
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Asia-Pacific Will Showcase Remarkable Growth During the Forecast Period
The robust economic growth, favorable population, and demographic profiles of the populace in developing countries in the Asia-Pacific region are driving air passenger traffic. The region saw a significant increase in air passenger traffic during the past decade, mostly due to the tourist destinations in the region and the ease of access to air travel, which is expected to continue during the forecast period.
China is leading the recovery of global commercial aviation due to great domestic demand, helping the airlines witness financial recovery. It became a major hub for the aviation industry over the years due to high demand from civilian and military customers. Commercial aviation is a key contributor to China's aviation industry over the years. According to Boeing, China is the largest market in aviation due to an increase in domestic air passenger traffic, which surpassed the North American region and is expected to grow rapidly at a rate of 4.4% by 2040.
With the increase in military spending of the countries in the region due to tensions between neighboring countries and with foreign nations investing in arranging military base stations in countries like Australia, military aviation in the Asia-Pacific region is also increasing. China is increasing its military airborne capabilities. A new stealth fighter aircraft, the new version of the J-20, which is the world's first twin-seat stealth fighter aircraft, was unveiled in October of 2021. Developments such as these are boosting the growth of the aircraft paints market in this region.
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Aircraft Paint Industry Overview
The aircraft paints market is moderately fragmented, occupied by major manufacturers like Akzo Nobel NV, PPG Industries Inc., IHI Ionbond AG, Mankiewicz Gebr. & Co., and Hentzen Coatings Inc. Currently, most of the paints and coating providers are present in North America and Europe. The increase in the global presence of the companies will help companies to gain a competitive advantage over others. Also, the development of paints that reduce weight, increase fuel efficiency, increase the stealth characteristics of aircraft, and are eco-friendly will help companies attain a better position in the market. In April 2023, AkzoNobel announced that airlines and operators could optimize the paint maintenance schedules for their entire fleets through a digital management system developed by AkzoNobel's Aerospace Coatings business. Developments such as these will help companies to gain a competitive advantage over others.
Aircraft Paint Market Leaders
Akzo Nobel NV
PPG Industries, Inc.
IHI Ionbond AG
Mankiewicz Gebr. & Co.
Hentzen Coatings, Inc.
*Disclaimer: Major Players sorted in no particular order
Aircraft Paint Market News
- July 2023: PPG announced that it partnered with Satys, a French industrial group active in aircraft sealing, painting, and surface treatment, to provide electrocoating (e-coat) of original equipment manufacture (OEM) aircraft parts.
- January 2022: Sherwin-Williams Aerospace Coatings, a US-based manufacturer of high-quality exterior and interior paint and coating systems, launched the Aircraft Color Visualizer platform, an online 3D color visualizer tool that allows users to experiment with different color schemes for their aircraft. The Aircraft Color Visualizer is a fully interactive desktop tool that lets users design color schemes for six different types of aircraft. It includes kit planes, single and twin-turboprops, light and heavy-duty business jets, and helicopters.
Aircraft Paint Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Liquid Coating
5.1.2 Power Coating
5.2.3 General Aviation
5.4 By Geography
5.4.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.4 Latin America
22.214.171.124 Rest of Latin America
5.4.5 Middle-East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 South Africa
184.108.40.206 United Arab Emirates
220.127.116.11 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Company Profiles
6.2.2 BASF SE
6.2.3 3M Co
6.2.4 PPG Industries Inc.
6.2.5 Mankiewicz Gebr. & Co.
6.2.6 Hentzen Coatings, Inc.
6.2.7 Sherwin-Williams Co
6.2.8 Akzo Nobel NV
6.2.9 Mapaero Coatings
6.2.10 Henkel AG & Company
6.2.11 IHI Ionbond AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Aircraft Paint Market Research FAQs
What is the study period of this market?
The Aircraft Paints Market is studied from 2018 - 2028.
What is the growth rate of Aircraft Paints Market?
The Aircraft Paints Market is growing at a CAGR of 2.38% over the next 5 years.
What is Aircraft Paints Market size in 2018?
The Aircraft Paints Market is valued at 1 Billion USD in 2018.
What is Aircraft Paints Market size in 2028?
The Aircraft Paints Market is valued at 1 Billion USD in 2028.
Which region has highest growth rate in Aircraft Paints Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Aircraft Paints Market?
North America holds highest share in 2022.
Who are the key players in Aircraft Paints Market?
Akzo Nobel NV, PPG Industries, Inc., IHI Ionbond AG, Mankiewicz Gebr. & Co., Hentzen Coatings, Inc. are the major companies operating in Aircraft Paints Market.
Aircraft Paint Industry Report
Statistics for the 2023 Aircraft Paint market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aircraft Paint analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.