DUBLIN, Nov. 30, 2022 /PRNewswire/ -- The "Global Commercial Aviation Aircraft Paint Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global commercial aviation aircraft paint market was estimated at US$18.463 billion in 2020, growing at a CAGR of 19.92% reaching a market size of US$65.860 billion by 2027.
An aircraft must withstand harsh weather conditions, flex bends, and chemicals, among others. Thus, aircraft paint is a special type of paint used to paint commercial aviation aircraft, whether new or old. There are mainly two types of paints used for these purposes; those are epoxy and enamel. This type of paint is often expensive and is considered highly durable as an aircraft operates under highly unfavourable conditions.
The aircraft paint unlike other paints in automobiles, and buildings, fades off after years of usage. Thus, airlines prefer to get their planes painted as per their designs and colours. Therefore, the growing aviation industry has further led to an increase in the number of aircraft trips, thus leading to more wear and tear. Also, the increasing investments by airline companies for the procurement of new next-generation aircraft are projected to positively impact the market growth during the forecast period.
Growing disposable income, growing business travel, and significant growth in medical tourism are some of the major factors that have augmented air travel globally. Also, the increase in new aircraft delivery further plays a significant role in shaping the market growth throughout the forecast period. Additionally, the increased spending by companies on aircraft repairs and maintenance is further expected to amplify the commercial aviation aircraft paint market during the forecast period.
The Growing Commercial Aviation Sector
The commercial aviation sector includes that part of civil aviation in which the hiring of aircraft is done for passenger transport operations or cargo transport operations. The market is primarily driven by the fact that the aviation sector around the globe is increasing due to the growth in the tourism industry around the globe. The upsurge in the frequency of the number of trips per flight is further providing an impetus to the market as more trips will lead to early deterioration of the plane's paint, which in turn will positively impact the demand during the next five years.
Aircraft companies are expanding their operations to new countries and opening new routes for their flights, which in turn is expected to augment the demand for aircraft as well as boost air travel. Thus, the increasing number of aircraft deliveries owing to the growing number of daily air passengers as well as the replacement of the ageing aircraft fleet is further expected to amplify the demand for aviation aircraft paint during the forecast period. This can be backed up by the fact that the number of air passengers who have travelled through air transport has increased at a significant pace in the past years.
For example, according to data by the World Bank Group, the number of air passengers (domestic and international) reached 4.233 billion by 2018 from 2.628 billion in 2010. The tourism industry is growing primarily due to the availability of cheap air tickets and the increased propensity of travellers to spend on holidays and leisure trips, which is further propelling the adoption of air transport as a means of travel. The increasing number of business travellers coupled with the increase in air cargo load are some of the additional factors augmenting the commercial aviation industry globally.
By Aircraft Type
Middle East and Africa
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Commercial Aviation Aircraft Paint Market Analysis, by Type
6. Commercial Aviation Aircraft Paint Market Analysis, by Aircraft Type
7. Commercial Aviation Aircraft Paint Market Analysis, by Application
8. Commercial Aviation Aircraft Paint Market Analysis, by Geography
9. Competitive Environment and Analysis
10. Company Profiles
PPG Industries, Inc.
Akzo Nobel N.V.
Mankiewicz Gebr. & Co.(GmbH & Co. KG)
The Sherwin-Williams Company
Axalta Coating Systems
APV Engineered Coatings
Walter Wurdack Inc.
Hentzen Coatings, Inc
IHI Ionbond Ag
For more information about this report visit https://www.researchandmarkets.com/r/fztrzn
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SOURCE Research and Markets