Global Aerospace Market Trends And Strategies Of Major Players In The Aerospace Market 2021-2030
3 Aug, 2021
The aerospace market consists of sales of aerospace equipment (including aircraft) and related services 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.
Global Aerospace Market Size And Drivers:
The global aerospace market reached a value of nearly $298 billion in 2020, having decreased at a compound annual growth rate (CAGR) of -0.3% since 2015. The market is expected to grow from $298.0 billion in 2020 to $430.9 billion in 2025 at a rate of 7.7%. The global aerospace market is then expected to grow at a CAGR of 5.9% from 2025 and reach $573.6 billion in 2030. Legal authority allowing the use of drones for commercial use is being extended more widely increasing a potential revenue channel for aircraft manufacturers.
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Trends In The Global Aerospace Market
Companies in the aircraft manufacturing market are focusing on the use of smart materials for manufacturing. New materials such as graphene and carbon nanotubes help to make airplane wings more efficient by reducing weight and fuel consumption. These materials make the wings lighter, thus increasing efficiency, than those with conventional designs, whether made from metal or composites.
Global Aerospace Market Segments:
The global aerospace market is further segmented based on type, size, end user, operation and geography.
By Type: Commercial Aircraft, Aircraft Maintenance, Repair and Overhauling Services, Aerospace Support and Auxiliary Equipment
By Size: Wide-Body, Narrow-Body, Regional, Others
By End-User: Government, Private Sector
By Operation: Autonomous Aircraft, Manual
Sub segments 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 global aerospace 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 49.7% of the total in 2020.
Read More On The Report For The Global Aerospace Market At:https://www.thebusinessresearchcompany.com/report/aerospace-market
Aerospace Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides aerospace market overviews, analyzes and forecasts market size and growth for the global aerospace market, aerospace market share, aerospace market players, aerospace market segments and geographies, aerospace market’s leading competitors’ revenues, profiles and market shares. The aerospace market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.