Oct 23, 2020 SOURCE: BusinessWire

Worldwide Commercial Aviation Aircraft Paint Industry to 2025 - Key Drivers and Restraints - ResearchAndMarkets.com

The "Global Commercial Aviation Aircraft Paint Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.

The global commercial aviation aircraft paint market is evaluated at US$35.851 million for the year 2019 growing at a CAGR of 21.52% reaching the market size of US$115.462 million by the year 2025.

An aircraft has to withstand harsh weather conditions, flex, bends, chemicals among others. Thus, aircraft paint is a special type of paint used to paint commercial aviation aircraft, whether new or old. There are majorly two types of paints used for these purposes that are epoxy and enamel. These types of paints are often expensive and are considered highly durable as an aircraft operates under highly unfavorable conditions. The aircraft paint unlike other paints in automobiles, buildings fade off after years of usage, thus, airlines prefer to get their planes painted as per their designs and color. 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 is projected to positively impact the market growth during the forecast period.

The growing disposable income, growing business travel along with a significant growth in medical tourism are some of the major factors that have augmented air travel globally. Also, the increase in new aircraft delivers further plays a significant role in shaping up the market growth throughout the course of the forecast period. Additionally, the increased spending by companies in aircraft repairs and maintenance is further expected to amplify the commercial aviation aircraft paint market during the forecast period. However, the outbreak of COVID-19 is expected to hamper the market growth to some extent especially during the short run due to a slump in the aviation industry globally. Also, a halt in the aircraft manufacturing due to supply chain disruptions and decline in demand is further expected to negatively impact the market growth during the short run.

Outbreak of COVID-19

The outbreak of the disease is expected to moderately hamper the market growth to some extent during the short run owing to the fact that the temporary suspension in the activities across the aviation sector due to government restrictions such as the ban on travel and nationwide lockdowns in many parts of the world have adversely affected the commercial aviation sector as the tourism sector is down. Also, the trade restrictions around the globe further impacted the logistics industry. Furthermore, the halt in aircraft manufacturing due to the non-availability of labor and raw material due to supply chain disruption may also slow down the market growth during a short period of the next six to eight months. Thus, the frequency in air travel decreased significantly since the outbreak has been declared as a pandemic by the World Health Organization which is difficult to contain even, since the duration of the pandemic is still unclear, a decline in the production, as well as maintenance of aircrafts, is expected during the short run. Thus, all such factors are anticipated to inhibit commercial aviation aircraft paint market growth in the coming years.

The commercial aviation aircraft paint market has been segmented as type, aircraft type, application, and end-user. By type, the segmentation of the commercial aviation aircraft paint market has been done as enamel and epoxy. By aircraft type, the market has been classified into narrow-body, wide-body, and regional jets. By application, the market has been segmented into interior and exterior. By geography, the distribution of the market has been done on the basis of North America, South America, Europe, Middle East and Africa, and Asia Pacific.

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