Booming commercial aviation industry drives sector growth
Global commercial aviation aircraft paint market
Dublin, Nov. 18, 2022 (GLOBE NEWSWIRE) — The report “Global Commercial Aviation Aircraft Paint Market – Forecast 2022 to 2027” has been added to from ResearchAndMarkets.com offer.
The global commercial aircraft paint market was estimated to be worth US$18.463 billion in 2020 growing at a CAGR of 19.92% to reach a market size of US$65.860 billion by 2027.
An aircraft must withstand harsh weather conditions, flexible turns, and chemicals, among other things. 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; they are epoxy and enamel. This type of paint is often expensive and is considered very durable as an aircraft operates under very adverse conditions.
Aircraft paint, unlike other automotive and building paints, fades after years of use. Thus, airlines prefer to have their planes painted according to their designs and colors. Therefore, the growth of the aviation industry has further led to an increase in the number of air travels, thus leading to increased wear and tear. Additionally, increasing investments by airlines for the purchase of new next-generation aircraft are expected to have a positive impact on the market growth over the forecast period.
Growth in disposable income, growth in business travel, and significant growth in medical tourism are some of the major factors that have increased air travel worldwide. Additionally, increasing delivery of new aircraft further plays a significant role in shaping the growth of the market throughout the forecast period. Additionally, increasing business spending on aircraft repair and maintenance is expected to further amplify the commercial aircraft paint market during the forecast period.
The growing sector of commercial aviation
The commercial aviation sector includes the part of civil aviation in which the leasing of aircraft is carried out for passenger transport operations or cargo transport operations. The market is primarily driven by the growing aviation sector globally owing to the growth in the tourism industry globally. The increase in the frequency of the number of trips per flight provides an additional boost to the market, as more trips will lead to early deterioration of the aircraft paint, which will positively impact demand over the next five years. .
Airlines are expanding their operations to new countries and opening up new routes for their flights, which in turn is expected to increase the demand for aircraft and boost air travel. Thus, increasing number of aircraft deliveries due to rising number of daily air passengers as well as replacement of aging aircraft fleet is expected to further amplify the demand for aviation aircraft paint over the forecast period. This can be confirmed by the fact that the number of air passengers who have traveled by air has increased at a significant rate over the past few years.
For example, according to data from the World Bank Group, the number of air passengers (domestic and international) reached 4.233 billion in 2018 from 2.628 billion in 2010. The tourism industry is growing mainly due to the availability of tickets cheap air travel and the increased propensity of travelers to spend on vacations and leisure travel, further propelling the adoption of air travel as a mode of transportation. Growing number of business travelers coupled with increase in air cargo load are some of the additional factors increasing the commercial aviation industry globally.
By aircraft type
Middle East and Africa
United Arab Emirates
Main 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
For more information about this report visit https://www.researchandmarkets.com/r/yjrzfi
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