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Surging Air Travel Paving the Way for Increased Adoption of Aerospace Coatings – Fact.MR Study

Award-winning consulting firm Fact.MR’s global aerospace coatings market report forecasts a robust expansion trajectory, estimating a CAGR of nearly 6% from 2021-2031, with the market topping US$ 2 billion valuation by 2031. Growth is expected to remain underpinned by extensive uptake across the military segment.

The market posted significant gains in the past, being valued at just over US$ 1 billion in 2017. Prospects dipped during the COVID-19 pandemic throughout 2020, as cross-border passenger air travel ceased so as to contain the virus. The market experienced a growth rate of under 5% from 2016 and 2020.


According to the Stockholm International Peace Research Institute (SIPRI), global military expenditure was estimated at nearly US$ 2 trillion in 2019, expanding by 3.6% in real terms as compared to 2018, with bulk of it contributed by the U.S (US$ 732 billion), followed by China (US$ 261 billion), and India (US$ 71 billion). As such, investments in military aircraft have also surged, paving the way for enhanced uptake of aerospace coatings to ensure longevity and durability of existing fleet.

Key Takeaways from Market Study

“Prominent manufacturers are expected to gain immense momentum across emerging economies of Asia, most notably in India and China, amid heightened spending on aviation infrastructure,” remarks a Fact.MR analyst.

Competitive Landscape

Notable players operating within the aerospace coatings landscape include BASF SE, Argosy International Inc., Akzo Nobel N.V., AHC Oberflachentechnik GmbH, Hentzen Coatings Inc., PPG Industries, International Aerospace Coatings Holding LP, and Ihi Ionbon AG.

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