The Aerospace Antimicrobial Coating Market is expected to reach USD 46.5 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.70% in between 2022 to 2028. Aircraft modernization agendas are strategically aligned with the necessary production abilities within production and generation houses. The geographically present manufacturing capability is set up as a single manufactory through business integration, with a standard operating procedure supporting the complete product life-cycle from development fabrication to absolute integration and examination thus creating a positive scope for the overall Aerospace Antimicrobial Coating Market growth.
- The commercial segment is projected to grow at a substantial CAGR during the forecast period owing to the increased number of aircraft fleets and aircraft deliveries throughout the globe. and the situation concerning the spread of harmful infections through microorganisms is the key factor driving the Aerospace Antimicrobial Coating Market.
- The aftermarket segment held a significant market share in 2021. This share is owing to growth in air passenger traffic which shows an expansion in the number of flying hours of aircraft, thus leading to a reduced recoating period of the aircraft cabin.
- Asia Pacific is expected to grow at the fastest CAGR during the forecast period. This is attributed to the rising demand for aerospace antimicrobial coating in developing economies such as China and India.
Some of the key players in the Aerospace Antimicrobial Coating Market BASF (Germany), PPG (US), Sherwin Williams (US), AkzoNobel (Netherlands), Mankiewicz (Germany), Henkel (Germany), MAPAERO (France), Hentzen (US), Permagard (France), Hexion (US), Dunmore (US), and Polymer Technologies (US)..
Aircraft manufacturing includes the production of engines and space vehicles, guided missiles, propulsion units, and more. Along with these, the airplane manufacturing enterprise also fabricates structures of correlated airplanes. Aircraft manufacturers are immersed in the production of regional airplanes, retail airplanes, and company aircraft. A rise in the market for commercial owing to raised air passenger traffic is anticipated to deliver these manufacturers growth prospects for the manufacture of new aircraft and therefore lead to the growth of the Aerospace Antimicrobial Coating Market.
Asia Pacific held the largest market share in 2021 owing to the increasing demand in countries, such as the U.S., Canada, and Mexico. The increasing aircraft deliveries & maintenance with the demand of traveling customers are the key factors expected to drive the Aerospace Antimicrobial Coating Market in this region.
COVID Impact Analysis
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Aerospace Antimicrobial Coating Market. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online.