The Global Aerospace Market Report by The Business Research Company covers aerospace market drivers and restraints, aerospace market size, major players, and the impact of COVID-19 on the aerospace market.
The aerospace market consists of sales of aerospace equipment (including aircraft) by entities (organizations, sole traders and partnerships) that produce commercial aircraft, undertake aircraft maintenance, repair and overhauling services, and produce support and auxiliary equipment, such as radar, air traffic control towers and satellites for civilian purpose. The aerospace industry consists of companies involved in developing prototypes and the manufacturing or assembling of complete aircraft and aircraft parts for commercial purposes.
Stable economic growth is expected to increase investments for nations’ security, thereby driving the aerospace market during forecast period. The global aerospace market is expected to grow from $298.01 billion in 2020 to $327.96 billion in 2021 at a compound annual growth rate (CAGR) of 10%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $430.87 billion in 2025 at a CAGR of 7%.
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Some aerospace market trends include the use of machine-learning techniques such as artificial intelligence (AI) to improve aircraft safety and quality, and to improve manufacturing productivity. Machine learning algorithms collect data from machine-to-machine and machine-to-human interfaces and use data analytics to drive effective decision making. These technologies optimize manufacturing operations and lower costs. For example, GE Aviation uses machine learning and data analytics to identify faults in engines, which increases components’ lives and reduces maintenance costs. Boeing has successfully built machine-learning algorithms to design aircraft and automate factory operations.
Global aerospace market segments include:
1) By Type: Commercial Aircraft, Aircraft Maintenance, Repair and Overhauling Services, Aerospace Support and Auxiliary Equipment.
2) By Size: Wide-Body, Narrow-Body, Regional, Others.
3) By End-User: Government, Private Sector.
4) By Operation: Autonomous Aircraft, Manual.
Subsegments Covered: Passenger Aircrafts, Commercial Helicopters, Commercial Gliders and Drones, Aircraft Turbines, Aircraft Engines, Rocket Engines, Commercial Aircrafts MRO Services, Commercial Helicopters MRO Services, Commercial Gliders and Drones MRO Services, Aircraft Turbines MRO Services, Aircraft Engines MRO Services, Rocket Engines MRO Services, Commercial Radars, Satellites
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America is the largest region in the global aerospace market, accounting for 50% of the total market,
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The Aerospace Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides aerospace market overviews, analyzes and forecasts market size, share, aerospace market players, aerospace market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The aerospace identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Aerospace Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: The Boeing Company, Airbus, Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Aerospace Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Aerospace Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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