Stealth Coating Market size worth over $66.2 million by 2027
Published Date: September 24, 2021 Authors: Kiran Pulidindi, Prashant Hake
According to a new research report by Global Market Insights Inc., the Stealth Coating Market size is forecast to exceed USD 66.2 million by 2027 owing to the increasing demand for stealth coatings in various applications including aerospace, military weapons, cars, and smartphones, among others and the rising usage of stealth coating in military aircraft, weapons, missiles, and submarines.
In the aerospace industry, stealth coatings are increasingly being used by aircraft manufacturers. Stealth coating is a polymer-based substance that is applied to the surface of a military aircraft to make it difficult to be detected by radars. The increasing aircraft production and sales, especially in countries including the U.S., Russia, and China, are expected to boost the demand for stealth coatings. Furthermore, the rising applications of the product in vehicles to protect against UV rays and the increasing demand for luxurious cars in countries including the U.S., France, Spain, Japan, and China will boost the market growth.
The aerospace & defense industries are likely to increase rapidly, driving the demand for stealth coatings. Stealth coating is used in military aircraft, such as the II F-22 Raptor and F-35 Lightning, to reduce radar cross-section and hence make radar detection difficult.
Aircraft manufacturers such as Boeing are increasingly adopting stealth technology in aircraft and defense sector, which is expected to increase the demand for stealth coatings. For instance, the company has used stealth coating on Block II Super Hornet to help decrease the chances of radar detection. Furthermore, the increased defense budgets in nations including China, India, and Russia are expected to drive the demand for stealth coatings in the defense sector.
Browse key industry insights spread across 160 pages with 132 market data tables & 17 figures & charts from the report, “Stealth Coating Market Size, By Resin Type (Epoxy, Polyurethane, Polyimide), By Application (Aerospace & Defense, Automotive), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:
The epoxy stealth coating segment will hold a market share of around 45% in 2027
Epoxy coating is increasingly becoming popular owing to its advantages such as excellent adhesion, high durability, temperature resistance to corrosives & solvents, fatigue strength, high heat deflection, high temperature & heat resistance, and excellent finishing. These coatings also offer a better impact & scratch-resistant finish compared to any other stealth coatings. Epoxy coatings are used in industries such as automotive, aerospace, defense, and electronic goods, among others.
Due to their increased durability, epoxy stealth coatings are commonly used in the aerospace industry. As a result, the expanding defense aircraft sector in the U.S. and Europe is expected to drive product demand. Additionally, polyimide coatings are used in automotive and aerospace & defense sectors. Polyimides, in general, exhibit excellent thermal stability at both high & low temperatures. However, the high cost of polyimide coatings will hamper the demand for this product in different industries.
North America to exhibit steady growth during the forecast period
The North America stealth coating market accounted for a share of around 40% in terms of revenue in 2020 and is expected to grow at a CAGR 6.3% throughout the forecast period. Growing investments in the aerospace & defense industry is one of the major factors driving the regional industry growth. Stealth coating is increasingly being used in bombers, missiles and military aircraft.
Northrop Grumman used a specially formulated coating on a B-2 stealth bomber to help improve the combat readiness. The B-2 is a long-range, low-observability, heavy bomber capable of breaching complex and dense air defense systems. Stealth coatings provide excellent resistance to heat, friction, and UV radiation, as well as making aircraft nearly invisible to radar. Furthermore, the Asia Pacific stealth coating market is anticipated to grow at the fastest pace owing to the surging military aircraft production in China. Additionally, China has a strong automobile production base and is a global car producer. In 2019, China produced over 21.36 million cars. China's increasing car production is expected to drive the demand for stealth coatings.
Some of the top players in the stealth coating industry include MWT Materials, Inc., Intermat Defense, Micromag, CFI Solutions, Surrey NanoSystems, Hyper Stealth Technologies Pvt. Ltd., and Stealth Veils, among others. The key players are majorly focusing on expanding their offerings through product innovations. Manufacturers are also heavily investing in research & development in order to maintain their market position.