Stealth Coating Market to Garner $375.0 Million, Globally, By 2027 at 5.3% CAGR, Says Allied Market Research
- Rise in epoxy stealth coatings demand and increase in application from the aerospace & defense industry drive the growth of the global stealth coating market
PORTLAND, Ore., March 8, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Stealth Coating Market by Resin Type (Epoxy, Polyurethane, and Polyimide) and Application (Aerospace & Defense, and Automotive): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global stealth coating market garnered $249.0 million in 2019, and is projected to garner $375.0 million by 2027, registering a CAGR of 5.3% from 2020 to 2027.
Prime determinants of growth
Rise in epoxy stealth coatings demand and increase in application from the aerospace & defense industry drive the growth of the global stealth coating market. However, high cost of investment restrains the market growth. Contrarily, surge in investment in R&D for stealth technology creates new opportunities in the next few years.
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COVID-19 Scenario
- Manufacturing activities of stealth ships, aircrafts, and drones has been restricted to the significant extent due to the lockdown measures taken by the governments of various countries including Russia, China, and others.
- Furthermore, manufacturers of the fifth-generation stealth fighter aircraft halted their manufacturing activities, which in turn, led to lowered demand for stealth coating.
The epoxy segment to maintain its leadership status during the forecast period
By resin type, the epoxy segment accounted for the highest market share, contributing to nearly half of the global stealth coating market in 2019, and is estimated to maintain its leadership status during the forecast period. This is due to increase in applications in the aerospace & defense and automotive sectors along with its properties such as strength, durability, and chemical resistance. However, the polyurethane segment is expected to manifest the highest CAGR of 5.8% from 2020 to 2027, owing to growth of the automotive industry and surge in demand and production of luxurious cars across the developing countries such as India and China.
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The aerospace & defense segment to maintain its dominance during the forecast period
Based on application, the aerospace & defense segment contributed to the largest market share in 2019, accounting for nearly 90% of the global stealth coating market, and is projected to maintain its dominance in terms of revenue during the forecast period. Moreover, this segment is projected to register the fastest CAGR of 5.5% from 2020 to 2027. This is due to vital role played by stealth technology in next-generation military assets such as aircraft, ships, and drones along with rise in aircraft production and demand. The report also analyzes the automotive segment.
North America to maintain its lead position by 2027
By region, North America held the highest market share in 2019, accounting for more than two-fifths of the global stealth coating market, and is estimated to maintain its lead position by 2027. Moreover, this segment is projected to maintain the highest CAGR of 5.6% during the forecast period. This is due to rise in aircraft production, especially in the U.S. and increase in consumption of stealth coatings in luxurious cars. The report also discusses regions including Asia-Pacific, Europe, and LAMEA.
Leading Market Players
- Intermat Defense
- Hyper Stealth Technologies Pvt. Ltd.
- CFI Solutions
- Veil Corporation
- Micromag, Stealth Coatings Inc.
- Stealth Veils
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