Stealth coating is a radar absorbing substance used on aircraft in order to lower radar cross-section, making it harder to be detected by radars. Stealth coatings are made of iron particles in high concentrations and a polymer matrix.
Stealth coatings are more durable and possess significantly high heat-deflection temperature
Polyetherimide, epoxy, PES, PPS, PEEK, isocyanate, and polyimide are a few thermoplastic polymers that are appropriate for stealth coatings. Stealth coatings are invisible, durable, and provide a safe way to protect cars from chips, scratches, road debris, and malicious damages.
Stealth coatings are also utilized on diverse surfaces including phone, tablet & computer screens, and automotive.
Key Drivers and Restraints of Stealth Coatings Market
Demand for stealth coatings is expected to increase at a significant pace during the forecast period due to a rise in use in various industries, such as automotive, aerospace and defense, and electronic products. Furthermore, an increase in the demand for stealth technology in the aerospace industry for bombers & fighters, tanks, and helicopters is estimated to propel the industry in the next few years.
However, the high product cost and slowdown of aircraft production in numerous countries due to the COVID-19 pandemic are anticipated to hamper the global stealth coating market
Stealth Coatings Market: Application Segment
Based on application, the global stealth coatings market can be divided into aerospace & defense, automotive and others
Among them, the aerospace & defense application segment is projected to dominate the global market in the next five years
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 less expensive than buying a stealth aircraft, and it is cost-effective by adding a layer of radar-absorbing stealth coating.
COVID-19 Impact on Global Stealth Coatings Market
On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
The outbreak of the COVID-19 pandemic has led to disturbance in the supply chain due to the global lockdown in several countries. Moreover, the spread of coronavirus hindered demand for chemical intermediates due to uncertainty in the global economy and capital markets.
Therefore, several major chemicals-producing & consuming countries witnessed significant variation in the demand for stealth coatings from end-use industries, such as automobiles, and aerospace & defense, due to the pandemic
North America to hold a leading share of Global Stealth Coatings Market
In terms of region, the stealth coatings market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America is expected to hold a major share of the global stealth coatings market, followed by Asia Pacific and Europe, during the forecast period
Demand for automobiles is increasing due to a rise in disposable income of middle-class families. Additionally, the penetration of e-vehicles in the regional market is expected to drive the demand.
This expansion is majorly attributed to the large presence of major aircraft manufacturers in the U.S. focusing on advanced technologies. Increasing budgets of the military & defense sectors is also likely to further boost the stealth coating market in the U.S.
For instance, in 2019, the budget for the defense sector was around US$ 686.1 billion, and in 2020, it increased by 13.4% to US$ 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.