Press Release
Press Release
Stealth coating provides strength and toughness to automobiles. Also, it prevents the car from scratches and it offers impact-resistant finish. Hence, the rising application of stealth coatings in the automotive sector owing to the increasing demand for commercial and passenger cars is driving the market growth. Meanwhile, the increasing demand for stealth coats in the aerospace and defence sector for the development of advanced aircraft and military vehicles is anticipated to bolster the market growth.
Moreover, rising investments in the development of military aircraft and drones amidst the rising geopolitical tensions are likely to provide impetus to the market in the coming years. In September 2021, the Indian government approved the order request for 56 C295 aircraft from Airbus Defence and Space in Spain. Under the deal, around 40 military aircraft will be built in India by the Tata Group, a domestic firm, whose business units include Tata Advanced Systems Limited, or TASL, and Tata Motors Limited (NYSE: TTM), among others.
In terms of region, North America accounts for a significant share in the market and is anticipated to witness a considerable growth in the forecast period. The United States of America makes significant investments in order to improve the country’s military capabilities. In this regard, stealth coats are in high demand in the country. In addition to this, the United States has witnessed a significant increase in the export of military aircraft and weapon systems. This factor is likely to propel the demand for stealth coating in the region’s aerospace and defence sector. Moreover, the expansion in production capabilities of major manufacturers in the country is expected to aid the market in the forecast period.
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The major players in the global stealth coating market are INTERMAT Group SA, Hyper Stealth Technologies Pvt. Ltd., Veil Corporation, CFI Solutions, and Micromag, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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