North America was the largest region in the aerospace & defense market in 2017, accounting for 38% share in the market. This was due to strong air travel market in the region which includes USA and Canada and presence of major aircraft manufacturers, who uses aircraft components during the manufacturing of aircrafts. North America, led by US, dominates the global radars and weapons market in terms of expenditure and technological advances. Asia Pacific was the second largest region accounting for 27% share in the market. South America was the lowest region in the aerospace & defense market in 2017, accounting for 3% share in the market.
3D Printing For Aircraft Parts
Additive manufacturing is continuously evolving and manufacturers are now using 3D printing technology to produce parts for aircrafts and aircraft engines. 3D printing creates a three-dimensional physical object using a digital design. They are 25% lighter, simpler and offer more design features than conventional parts. This enables manufacturers to create high performance aircraft engines and components. GE Aviation has introduced 3D printed parts in its aircraft engines. In 2016, Airbus unveiled the first aircraft made using 3D printing technology. Boeing has also planned to use 3D printed titanium parts in the construction of its 787 Dreamliner jets that is expected to save about $3 million in construction costs.
Aerospace & Defense industry consists of establishments involved in developing prototypes and manufacturing or assembling of complete aircrafts, aircraft parts, radars, weapons and ground vehicles for civilian and military purpose. These companies are also providing maintenance, repair and overhauling services to the aircrafts and other after sales services.
Companies Covered: The Boeing Company, Airbus Group, Lockheed Martin Corporation, United Technologies Corp., and General Electric Company
Market Segments Included: Aircrafts, Aircraft Components Manufacturing and Repair Services, Radars and Weapons, Guided Missile, Space Vehicle and Military Ground Vehicles
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