Luton, Bedfordshire, United Kingdom, March 09, 2023 (GLOBE NEWSWIRE) --
Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Aero Engine Coating Market.
The global aero engines coating market size is expected to grow at 5.7% CAGR from 2023 to 2029. It is expected to reach above USD 2.93 billion by 2029 from USD 1.78 billion in 2022.
Aero-engine coatings are used to create a protective layer on various aircraft engine components, including actuator parts, afterburner assemblies, bearing and accessories. The rise in demand for military aircraft has been one of the most noticeable trends in recent years. Countries are increasing their investments to gain a military advantage over their competitors. Several nations are increasing their investments in the production of military aircraft such as helicopters and fighter jets. As a result, demand for aero engine coatings is likely to increase through the forecast period.
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Aero Engine Coating Market Recent Developments
- July 2022: PPG partnered with UK airline brand and design consultancy Aerobrand to provide airline customers with a unique service integrating paint supply with livery design.
- July 2022: Akzo Nobel announced a total of EUR 15 million (USD 17.7 million) investment in the company's aerospace coatings facility in Pamiers, which Mapaero acquired in 2019. Production capacity is expected to be increased by 50%.
North America is the global market leader and has around 55% share in the aero engine coatings market.
The region owns one of the largest fleets of commercial aircraft across the globe. Moreover, it owns a large number of commercial and military aircraft. Technological advancements and high investments from the government are expected to boost the market growth in the region. During the projection period, North America is expected to remain the largest market for aero-engine coatings.
Aero-engine OEMs keep looking for advanced materials to improve fuel efficiency, reduce MRO cost, and increase the lifespan of components to drive growth in the global aero engine coating market.
Engine OEMs have intentionally utilized innovative materials such as titanium and ceramic matrix composites in their latest engine series to optimize the benefits. The market for aero-engine coatings is being reshaped as a result of this adoption of new materials. The development of sophisticated coating systems to meet the industry’s needs is underway at major coating providers.
Technology trends and the need for the high-powered engine are likely to increase the sale of the aero engine coating
The FAA and other regulatory agencies’ approval of the B737Max, as well as the usage of modern materials in vital engine components and advancements in the coating system and procedure, are all expected to boost the industry’s growth. Furthermore, the rise in high-thrust engines, as well as the demand for high-performance coatings and the coating of complex-shaped engine parts, is encouraging coating providers to develop new coating systems and sophisticated deposition techniques, which will boost sales during the forecast period.
The growing demand for commercial aircraft in the Aero Engine Coating market is creating potential opportunities.
In developing economies, low-cost commercial air travel is becoming a viable option, allowing visitors to visit a wide range of destinations. Customers in emerging economies prefer air travel to traditional modes of transportation because it is more economical and delivers speed and convenience. Short-haul operations have begun in emerging economies, posing a threat to the longer routes dominated by international carriers. Modern lightweight airplanes have a great range of travel and cheap operating costs, facilitating the start of long-distance low-cost business models. As a result of these business models, carriers’ connected city air journeys and passengers’ convenience benefit. As a result, greater passenger travel combined with emerging country economic growth is expected to boost commercial aircraft manufacturing globally.
Aero Engine Coating Market Report Scope
| Report Attribute | Details |
| Market size value in 2022 | USD 1.78 billion in 2022 |
| Revenue forecast in 2029 | USD 2.93 billion by 2029 |
| Growth rate | CAGR of 5.7% from 2023 to 2029 |
| Base year for estimation | 2022 |
| Historical data | 2018 - 2022 |
| Forecast period | 2023 - 2029 |
| Quantitative units | Volume in kilo tons, revenue in USD million and CAGR from 2023 to 2029 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, application, region |
| Regional scope | North America; Europe; China; Asia; Pacific; Central & South America; MEA |
| Key Market Drivers | The growing demand for commercial aircraft in the Aero Engine Coating market is creating potential opportunities. |
Aero Engine Coating Market Key Players
The aero engine coating market key players include A&A Thermal Spray Coatings, Akzo Nobel N.V, Dupont Inc., Indestructible Paint Limited., United Coatings Group, Ppg Industries., Chromalloy Gas Turbine LLC., Lincotek Group S.P.A, Praxair Inc., Aps Materials Inc.
To increase their market position, these businesses have implemented a variety of growth tactics. These companies are using expansion, new product development, mergers and acquisitions, and collaboration as important growth strategies to improve their product portfolio and geographical presence to meet the rising demand from emerging economies.
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Key Market Segments: Aero Engine Coating Market
Global Aero Engine Coating Market By Aircraft Type, 2023-2029, (USD Million), (Kilotons Units)
- Commercial Aircraft
- Military Aircraft
- Regional Aircraft
- General Aviation
- Helicopter
Global Aero Engine Coating Market By Engine Type, 2023-2029, (USD Million), (Kilotons Units)
- Turbofan Engine
- Turbojet Engine
- Turboprop Engine
- Turboshaft Engine
Global Aero Engine Coating Market By Process Type, 2023-2029, (USD Million), (Kilotons Units)
- Spray Process
- EBPVD Process
- Others
Global Aero Engine Coating Market By Form Type, 2023-2029, (USD Million), (Kilotons Units)
- Powder Coatings
- Liquid Coatings
- Wired Coatings
Global Aero Engine Coating Market By Application Type, 2023-2029, (USD Million), (Kilotons Units)
- Turbine Section
- Combustion Section
- Compressor Section
- Afterburner Section
- Bearings & Accessories
Market Dynamics
Aero-Engine Coating Market Driver
The emphasis on engine safety and improving efficiency is the main element pushing the global aero-engine coating market development. The efficacy and performance of aero engines are increased by aero-engine coatings, which serve as heat shields. Aero-engine coatings protect parts from oxidation and corrosion, wear, erosion, fouling, and heat. Examples of these parts include actuator components, afterburner assemblies, bearing and accessories, combustion chambers, combustion flame tubes, compressor airfoils, compressor drums, discs, and shafts. Different kinds of coatings, including thermal barrier coatings (TBC) and abrasion-resistant coatings, shield engine parts.
A TBC shields aero-engines from heat produced during operation, enhancing their total effectiveness. By enabling high working temps (650 F to 2,100 F) and enhancing the surge margin, an abradable coating increases the total effectiveness of motors. These covering aerospace materials improve the aero-engines' steadiness. These elements are anticipated to drive market expansion over the upcoming years.
Aero-Engine Coating Market Trend
The development of the global aero-engine covering market will be fueled by the rising demand for energy-efficient engines. Over time, various manufacturing techniques and materials have been employed to lighten aircraft engines and improve aviation fuel economy. For use in low-pressure turbines and high-pressure compressors of aero-engines, intermetallic structural elements like gamma titanium aluminides, for instance, have been created.
The main reasons for the greater use of titanium aluminide in the low-pressure components of the turbine are its high strength at high temps and lighter weight compared to nickel alloy. Since titanium aluminides have weak oxidation and wear protection, they need a specific coating to avoid oxidation. To guarantee strong oxidation resistance, specific coating kinds, such as metallic coatings or nitride coatings, are applied to titanium aluminide engine components. During the projection period, these factors are anticipated to propel the market.
Aero-Engine Coating Market Challenge
The expansion of the global aero-engine coating market is significantly hindered by the extended manufacturing cycles of aircraft engines. Because engine functions are so crucial in the aerospace and military industries, evaluating aircraft engines takes a long time. A small flaw in the engine or its functioning can lead to a recall.
There were documented technical issues during the Rolls-Royce Trent 1000 engine development and the manufacturing of several aeroplanes. Several planes were grounded as a consequence. Manufacturers, therefore, spend in redesigning engine components and substituting already-equipped aircraft, which further slows aircraft delivery. The demand for sub-components and associated materials, such as aero-engine coatings, is adversely impacted by long supply cycles. Such factors are expected to hamper the growth of the market during the forecast period.
Key Question Answered
- What is the current size of the aero engine coating market?
- What are the key factors influencing the growth of automotive engine coating?
- What is the major end-use industry for aero engine coating?
- Who are the major key players in the aero engine coating market?
- Which region will provide more business opportunities for aero engine coating in the future?
- Which segment holds the maximum share of the aero engine coating market?
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