Global Aerospace Market Trends And Strategies Of Major Players In The Aerospace Market 2021-2030
28 May, 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 is expected to recover from the COVID-19 crisis and grow at a CAGR of 6.5% from 2021 and reach $358.8 billion in 2023. 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 aerospace market are increasingly using cloud platforms for developing their aircraft designs. All the major players in the market including Airbus, Boeing, Gulfstream and Lockheed Martin have started implementing cloud-based platforms to develop a new aircraft, engine, system or component design. The cloud platform enables simplification in the design process by bringing the suppliers, systems integrators, software developers and other stakeholders within the design and manufacturing ecosystem together over a virtual platform. For instance, in 2020, Vertical Aerospace, a UK-based aviation industry innovator, used Dassault Systèmes’ 3DExperience platform on the cloud to develop their third all-electric vertical takeoff and landing aircraft. Vertical Aerospace used the 3DExpereince platform to improve coordination between their design, engineering, testing and manufacturing disciplines and provide access to all the engineering documentation they require in the cloud to enable effective work from home. Dassault Systèmes is a France based provider of virtual solutions to business and people.
Global Aerospace Market Segments:
The global aerospace market is further segmented based on type, size, end user and geography.
By Type: Commercial Aircraft, Aircraft Maintenance, Repair And Overhauling Services, Aerospace Support Auxiliary Equipment
By Size: Wide-Body, Narrow-Body, Regional, Others
By End User: Government, Private Sector
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 market, accounting for almost 50% of the total.
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.