Portland, OR, April 20, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global stealth coating market generated $249.0 million in 2019, and is expected to reach $375.0 million by 2027, witnessing a CAGR of 5.3% from 2020 to 2027. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, value chain, competitive landscape, and regional scenario.
Increase in demand for epoxy stealth coatings and rise in application in the aerospace & defense sector drive the growth of the global stealth coating market. However, high initial cost hinders the market growth. On the other hand, rise in investment in R&D of stealth technology presents new opportunities in the coming years.
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Covid-19 Scenario:
- There has been a significant decline in the manufacturing of stealth ships, aircraft, and drones due to the lockdown imposed by the governments of various countries including Russia, China, and others during the outbreak of the Covid-19 pandemic.
- In addition, manufacturers of the fifth-generation stealth fighter aircraft stopped their production activities, which in turn, resulted in the decline in the demand for stealth coating.
The report offers detailed segmentation of the global stealth coating market based on resin type, application, and region.
Based on resin type, the epoxy segment contributed to the largest market share, accounting for nearly half of the global stealth coating market in 2019, and is projected to maintain its leadership status during the forecast period. However, the polyurethane segment is projected to witness the fastest CAGR of 5.8% from 2020 to 2027.
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Based on application, the aerospace & defense segment held the highest market share in 2019, contributing to nearly 90% of the total market share, and is expected to maintain its dominant share in terms of revenue throughout the forecast period. Moreover, this segment is expected to witness the highest CAGR of 5.5% from 2020 to 2027.
Based on region, North America accounted for the highest market share in 2019, holding more than two-fifths of the total share, and is projected to maintain its leadership status by 2027. Moreover, this segment is expected to maintain the largest CAGR of 5.6% during the forecast period.
Leading players of the global stealth coating market analyzed in the research include Intermat Defense, Hyper Stealth Technologies Pvt Ltd., CFI Solutions, Veil Corporation, Micromag, Stealth Coatings Inc., and Stealth Veils.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.