Stealth Coating Market Analysis

Stealth Coating Market Analysis

Epoxy dominated the global stealth coating market with revenue of over USD 19.4 million in 2020 and is projected to grow at a CAGR of 6.8% through 2027 due to increasing applications in vehicles and the aerospace industry.
 

Epoxy coatings offer versatile properties such as strength, durability, and chemical resistance. Additionally, these stealth coatings are more durable and have very high heat-deflection temperature. Furthermore, polyurethane coatings offer excellent adhesion to all substrates & superior properties such as toughness and chemical resistance. The rising applications of polyurethane stealth coatings in cars to protect them from UV rays will further drive the overall stealth coatings market growth.
 

The aerospace & defense segment is anticipated to account for the largest market share of around 53% of the global stealth coating market by 2027 owing to the increasing interest of the defense sectors. Stealth technology plays a key role in the next-generation military assets such as weapon systems, aircraft, submarines, ships, ground vehicles, and personnel. Stealth coatings make aircraft, missiles and drones invisible to radar. Stealth coating is cheaper than buying a stealth aircraft, and it is cost-effective by adding a layer of radar absorbing stealth coating.
 

Furthermore, the surging application of stealth coating in automotive industry is also projected to boost product consumption. Stealth coatings are invisible, durable, and provide a safe way to protect cars from chips, scratches, road debris, and malicious damages. The global car production increased by 2.36% in 2017 to account for 73.45 million units from 72.11 million units in 2016.
 

The North America accounted for 40% of market share in 2020 and is forecast to grow at a CAGR of 6.3% between 2021 and 2027. This growth is majorly attributed to the large presence of major aircraft manufacturers in the U.S. focusing on advanced technologies. The increasing budgets on the military & defense sectors will further support the stealth coating market segment growth in the U.S.
 

For instance, in 2019, the budget for the defense sector was around USD 686.1 billion, and in 2020, it increased by 13.4% to USD 778 billion. According to the 2021 World Air Forces report produced by Flight International in collaboration with Embraer, the U.S. air force, army, navy, and marine corps collectively operate a little over 13,000 military aircraft. Boeing, Lockheed Martin, and Northrop Grumman are among the market leaders.