The Military Aerospace Coatings Market is estimated to be USD 310.7 million in 2018 and is projected to reach USD 390.7 million by 2023, at a CAGR of 4.69% from 2018 to 2023 .
Download PDF @ https://bit.ly/2CY3WeP
North America is expected to be the largest, while APAC is expected to be the fastest-growing market for military aerospace coatings, in terms of value and volume. North America is expected to retain its leadership until 2023.
Countries in these regions such as US, China, and India are witnessing an increase in the use of military aerospace coatings in the OEM and MRO user types. This can be attributed to the demand for fixed wing and rotary wing military aircraft from these regions. Increasing defense budgets; presence of a large aerospace industry; and increasing investments & expansions, mergers & acquisitions, new product launches, and joint venture activities in the region are driving the military aerospace coatings market.
The fixed-wing military aircraft type segment is projected to grow at the highest CAGR between 2018 and 2023, followed by rotary wing military aircraft. Military aerospace coatings provide wear protection, corrosion resistance, and UV resistance, reduce weight, prohibiting oxidation of metals and enhance surface hardness on aircraft substrates. As military aerospace coatings exhibit diverse properties, these are applied on the exterior surfaces of military aircraft by OEMs and MROs. Manufacturers are focusing on R&D activities to improve properties of military aerospace coatings.
Get 10% Free Customization on this report @ https://bit.ly/2OVPzN7
Some of the major players in the military aerospace coatings market include PPG (US), Akzo Nobel (Netherlands), Sherwin-Williams (US), and Hentzen Coatings (US). These players have adopted various strategies, such as mergers & acquisitions, expansions, and new product launches to grow in the military aerospace coatings market.
Investments & expansions was the key strategy adopted by the major players to grow in the military aerospace coatings market between 2015 and 2018. This strategy accounted for a share of 53% of all growth strategies adopted by key market players and helped companies enhance their market and expand global presence.
PPG Industries (US) manufactures and distributes coatings and glass products. The company operates through two business units, namely, performance coatings and industrial coatings. The company also provides industrial and automotive coatings to manufacturing companies. The company has 140 manufacturing facilities in 40 countries. In June 2017, PPG (US) completed the construction of a USD 49 million paints and coatings manufacturing facility and started operations in the Lipetsk region of Russia.
There are several major North American and European players in the military aerospace coatings market. The Netherlands based Akzo Nobel Company is also one of the leaders in the military aerospace coatings market. The company has a strong customer base and operates in various countries in Europe, North America, APAC, South America, and the Middle East. It has business activities in more than 80 countries.
The company mainly focuses on the investments & expansions strategy to grow its business. For example, in July 2018, Akzo Nobel opened a new coatings production facility in Kenya, which is expected to expand the company’s performance coatings presence in Africa.
Request Sample @ https://tinyurl.com/y6k4ryad
Reference:
For more Info Visit Blog: https://chemicalsresearchmarket.wordpress.com/blog/
Comments