AEROSPACE COATING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In July 2024, Akzo Nobel reported a 1% rise in its second-quarter core profit to USD 400 million. This shortfall was attributed to weaker volume growth and price increases. Consequently, the company's shares fell by 3%. Akzo Nobel has been attempting to cut costs amid a slow industry recovery from the pandemic, which saw rising raw material costs.
• In June 2023, Lufthansa Teknik collaborated with ANSYS, an engineering simulation and company, to develop aircraft coating technology, named as AeroSHARK technology. This technology uses advanced materials and nanocoatings at nanoscale. It improves the fuel efficiency and aerodynamics of the aircraft.
• In August 2022, Adani Group acquired Air Works, an aircraft maintenance company, for USD 54 million (INR 400 crore). This acquisition included over 900 maintenance experts, enhancing Adani's capabilities in the aerospace sector.
• In July 2022, PPG Industries collaborated with Aerobrand, a U.K.-based airline brand and design consultancy, to offer airline customers an integrated service combining paint supply with livery design.