The global stealth coating market was valued at $249.0 million in 2019, and is projected to reach $375.0 million by 2027, growing at a CAGR of 5.3% from 2020 to 2027.
Stealth coating is a radar absorbing material used especially on the edges of metal surfaces of the aircrafts. It comprises depositing pyramid like colonies on the reflecting superficies with the gaps filled with ferrite-based radar absorbing material.
The global stealth coating market is driven by surge in demand for stealth coatings from aerospace & defense and automotive industry owing to its properties such as strength, durability, chemical resistance, and high heat deflection temperature. Due to these properties, it provides scratch and impact-resistant finish, and resistance to water and ultraviolet radiation. In addition, consumption of stealth coating has been increased in recent years, owing to growing focus of developed and developing countries toward the development of stealth technology to achieve the edge over enemy countries in war and conflict situations. This factor is expected to drive the growth of stealth coating during the forecast period.
However, high cost of stealth coating and decline in production of stealth aircrafts, ships, and drones amid lockdown declared by the government of various countries such as Russia, China, and Russia due to outbreak of COVID-19 pandemic is expected to restrain the growth of the stealth coating market. Furthermore, surge in investment by developing countries such as China and India in the development and production of stealth aircrafts, ships, and drones is likely to provide opportunities for the growth of the global stealth coating market.
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The global stealth coating market size is segmented on the basis of resin type, application, and region. On the basis of resin type, it is divided into epoxy, polyurethane, and polyimide. By application, it is fragmented into aerospace & defense, and automotive. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major key players operating in the global stealth coating market include Intermat Defense, CFI Solutions, Hyper Stealth Technologies Pvt Ltd., Stealth Coatings Inc., Micromag, Veil Corporation, and Stealth Veils.
– The demand for stealth coating across the globe is expected to decline in production of fifth generation stealth fighter jets across the developed economies such as China, U.S., and Russia amid lockdown due to COVID-19 pandemic outbreak.
– In addition, nationwide lockdown and social distancing measures implemented by governments of various countries have led to shutting down of aircraft and automobile manufacturing units, owing to which the demand for stealth coating has been declined.
Key benefits for stakeholders
– Porters five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
– The report outlines the current trends and future scenario of the global stealth coating market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
– Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
– The key drivers, restraints, & opportunities and their detailed impact analysis are explained in the global stealth coating market study.
– The profiles of key players and with their key strategic developments are enlisted in the global stealth coating market report.
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Key market segments
– By Resin Type
– By Application
– Aerospace & Defense
– By Region
– North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o United Arab Emirates (UAE)
o Saudi Arabia
o South Africa
o Rest of LAMEA