In recent times, aerospace coatings market is characterized by a plethora of contemporary product innovations, inherently influenced by the sustainability march across the globe. It has been observed that research efforts have been focused on developing smart multifunctional coatings that not only ensure improved functionality but also are environmentally viable. Citing a recent instance of the same, Airbus and Lufthansa, two of the eminent aerospace giants have developed an ecofriendly coating solution dubbed as sharkskin for aircraft wings. Researched at ZAL Centre of Applied Aeronautical Research, Hamburg, this groundbreaking coating technology is claimed to improve the fuel efficiency by reducing the airflow resistance.
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Another eyepopping spectacular scoop in aerospace coatings marketplace is UDRI’s contract with the United States Air Force Department. The University of Dayton Research Institute, has been recently awarded a contract worth of USD 1.5 million to evaluate and deliver innovative advanced aerospace coatings for turbine engine parts. Reportedly, this USD 1.5 million agreement stems from UD’s seven-year contract with U.S. Air Force worth over USD 40 million, targeting environmentally viable and energy efficient technologies for Air Force equipment. While UDRI has always been one of the few renowned names in aerospace coatings market whose contribution has been phenomenal, being awarded with such a prospective contract by USAF is certainly a news to be reckoned with, claim experts.
Having already accomplished a percentage of supremacy in aviation space, Asia Pacific is certainly one of the profitable growth avenues for the overall aerospace coatings market share. Increasing international trade across emerging economies like China and India, along with heavy cargo and passenger traffic are the two primary determinants driving the regional aerospace coatings market demand. As per a latest report by the International Air Transport Association- China pegs the title of world’s fastest growing aviation industry and is projected to surpass even U.S. market valuation from 2022. In fact, The Civil Aviation Administration of China has recently affrmed that the country would ease investment access to the regional civil aviation market for private and state enterprises from January, next year. Not to mention, these kinds of regional governmental supports in proliferating the aviation sector, is bound to leave a positive impact on the overall APAC aerospace coatings market, which is forecast to grow at 7% CAGR over 2017-2024.
The strategic landscape of aerospace coatings market is chronicled to be rather consolidated with renowned giants like Mankiewicz, PPG Industries, Akzo Nobel NV, Merck Performance, and BASF, procuring almost 50% of the global share. Amidst the intense share battle, product innovations via R&D investments is claimed to be one of the major parameters justifying the sustainability quotient of aerospace coatings industry participants. In this regard, experts believe, developing economies can prove to be opportunistic investment spots for the market players, pertaining to the supply demand gap in these regions. All in all, with technological advancements in nanoparticle-based coatings and manufacturers’ constant effort in bringing cost effective solutions, the revenue graph of aerospace coatings market is sure to ascend over the ensuing years.
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Glimpse of Table of Content (ToC)
Chapter 3. Aerospace Coatings Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Raw material supplier
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
220.127.116.11. Product portfolio
18.104.22.168. Global presence
3.4. Pricing trends by region
3.4.1. North America
3.4.6. Cost structure analysis
3.5. Technology landscape
3.6. Regulatory landscape
3.6.1. North America
3.7. Industry best practices & key buying criteria
3.8. Industry impact forces
3.8.1. Growth drivers
22.214.171.124. North America
3.8.2. Industry pitfalls & challenges
3.9. Innovation & sustainability
3.10. Growth potential analysis
3.11. Porter’s analysis
3.12. Competitive landscape, 2016
3.12.1. Vendor Matrix
3.12.2. Strategic dashboard
3.13. PESTLE analysis
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