Global Aerospace Market

Battle force ship refers to warships capable of aiding combat operations, such as aircraft carriers, and support crafts. The battle force ship components include an anchor, rudder, bow, keel, accommodation, propeller, mast, bridge, hatch coves, and bow thrusters. The main types of vessels in battle force ships are frigates, corvettes, destroyers, aircraft carriers, torpedo boats, support crafts, and others. A frigate is a navy ship that can travel at high speeds and is relatively small. Frigates are frequently deployed to defend other ships. The different applications include search and rescue, combat operations, mcm operations, coastal surveillance, and others and involve various technologies such as conventional power or nuclear power. The battle force ships market research report is one of a series of new reports from The Business Research Company that provides battle force ship market statistics, including battle force ship industry global market size, regional shares, competitors with a battle force ship market share, detailed battle force ship market segments, market trends and opportunities, and any further data you may need to thrive in the battle force ship industry. This battle force ship market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global battle force ships market size will grow from $35.43 billion in 2022 to $38.36 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global battle force ships market size is expected to grow to $48.77 billion in 2027 at a CAGR of 6.2%. A rise in maritime security investment will anticipate the growth of the battle force ship market. Maritime security basically deals with safety and security concerns regarding the prevention of intentional damage through sabotage, subversion, or terrorism. According to reports from the Ghana Ports and Harbours Authority, in 2020, Ghana’s Maritime Security is buckling up for increasing investments to enhance security to protect Ghana’s territorial waters following rising maritime insecurity threats across the West African sub-region. Thus, increased investment in maritime security is expected to boost the growth of the battle force ship market. The economic slowdown due to the COVID-19 impact is expected to limit the growth of the battle force ship market. The COVID-19 outbreak has led to restrictive containment measures that have involved closures of economic activities across the world, and their revival would be a serious challenge. In many countries, to cope with a declining economy, there are cost cuts in the budget for many sectors. For instance, in India, the defence budget is expected to be slashed by 20% to 40%, which is between $5.36 billion and $10.71 billion (INR 40,000 crore and INR 80,000 crore). Due to low budgets, the navy had to rethink its plan to have 200 warships by 2027. Therefore, the economic slowdown has resulted in low budget allocation in the defence sector, and the low budget can hamper the growth of the battle force ship market during the period. The rise in the use of 3D printing technology for shipbuilding is gradually increasing for battle force ships, which is likely to be an emerging trend in the market. 3D printing is a computer-controlled process in which materials are layered consecutively to form objects. The shipbuilding industry is increasingly adopting this 3D printing technology to improve efficiencies and the quality of the manufactured parts. Direct Metal Laser Sintering (DMLS) and Fused Deposition Modeling (FDM) are two main applications of 3D printing in shipbuilding. For instance, in April 2020, the Indian Navy collaborated with think3D, an Indian 3D printing service bureau, to generate on-demand replacement parts utilising additive manufacturing for both on- and off-shore circumstances. In March 2020, Huntington Ingalls Industries, a US-based shipbuilding company, acquired Hydroid Inc. for $350 million. The deal will help Huntington Ingalls Industries expand its strategic capabilities and growth in the autonomous and unmanned maritime systems market. It will also help Hydroid provide leading-edge autonomous unmanned underwater vehicles (UUVs) to the U.S. government and key allies. Hydroid Inc. is a maritime company specialising in unmanned underwater vehicles and autonomous underwater vehicles. Major players in the battle force ship market are BAE Systems, Lockheed Martin Corp., General Dynamics Corporation, Huntington Ingalls Industries, Abu Dhabi Ship Building, Austal, Damen Schelde Naval Shipbuilding (DSNS), Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries, Mazagon Docks Limited, Naval Group SA, PO Sevmash, Thales, ThyssenKrupp Marine Systems AG, Fincantier, ASC PTY Ltd., Raytheon, SaaB AB, Mitsubishi Heavy Industries Ltd., Kawasaki Shipbuilding Corporation, Kockums AB, and United Shipbuilding Corporation. Asia-Pacific was the largest region in the battle force ships market in 2022. Western Europe is expected to be the fastest-growing region in the global battle force ships market during the forecast period. The regions covered in the global battle force ships market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the battle force ships market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The battle force ship market consists of sales of battle force ships, such as combat warships, and support watercraft. Values in this market are factory gate values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.  The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organisations in the specified geography within the market, irrespective of where they are produced.  It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global battle force ships market is segmented - 1) By Vessel Type: Frigates, Corvettes, Destroyers, Aircraft Carriers, Torpedo Boats, Support Crafts, Others 2) By Technology: Conventional Powered, Nuclear Powered 3) By Application:  Search and Rescue, Combat Operations, MCM Operations, Coastal Surveillance, Others

An aircraft engine is a component of a propulsion system that generates mechanical power to run the aircraft. The aircraft engine is propelled by jet fuel, aviation gasoline (Avgas), jet B, and biokerosene. The main types of aircraft engines on the market are turboprop, turboshaft, turbofan, and piston engines. A turboshaft engine is a type of jet engine that is optimized to produce shaft power to drive machinery instead of producing thrust. The technology deployed includes conventional engines, electric/hybrid, and is used in fixed-wing, rotary-wing, and by application in general aviation, business aviation, recreational aviation, and others. The aircraft engines market research report is one of a series of new reports from The Business Research Company that provides aircraft engine market statistics, including aircraft engine industry global market size, regional shares, competitors with an aircraft engine market share, detailed aircraft engine market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft engine industry. This aircraft engine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global aircraft engines market size will grow from $37.21 billion in 2022 to $37.07 billion in 2023 at a compound annual growth rate (CAGR) of -0.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global aircraft engines market size is expected to grow to $46.32 billion in 2027 at a CAGR of 5.7%. The growing air passenger traffic is expected to propel the growth of the aircraft engine market over the forecast period. In 2020, total air passenger traffic increased by 19% until 2020, with carriers flying more than 70 lakh passengers during the period following a two-month pause from until the re-opening of domestic airline facilities in a graded manner. In order to meet the increasing air traffic, a number of airlines are revamping their fleet by purchasing new aircraft that create demand for new engines. The International Air Transport Association (IATA) has disclosed that the number of passengers could double in 2037 to 8.2 billion. Therefore, the growing air passenger traffic drives the growth of the aircraft engine market. The high maintenance cost of aircraft engines is expected to restrict the growth of the aircraft engine market in the forecast period. Maintenance of aircraft engines is a step-by-step process consisting of washing and drying components of the jet engine, quality checks of the interiors and exteriors, disassembling of the engine, repair and replacement of any portions, and then reassembly and testing of the engine. Throughout the process, multiple devices are used to assist trained inspectors, and other creative methods, such as robots, can be implemented for maintenance. Small jet engine revamps cost around $200-$300 thousand per engine. Larger engines will hit $3 million. Therefore, the high maintenance cost of aircraft engines restrains the growth of the aircraft engine market. The integration of 3D printed parts into aircraft engines is a key trend gaining popularity in the aircraft engine market. Companies are increasingly using 3D printing technology in aircraft engines as well as 3D printing-based production for aviation to reduce fuel usage and material costs. In January 2020, GE Aviation revealed that the first aircraft of its 777X jet, operated by twin GE9X engines, was finished by the American multinational aerospace giant Boeing. The GE9X engines contain over 300 3D-printed components. According to General Electric (GE), 3D printing has enabled the creation of the GE9X engine, which is 10% more fuel efficient than the GE90 engine. Market intelligence company Netscribes estimates that additive manufacturing (AM) techniques will produce global annual revenue of $8.7 billion in 2020. In June 2022, Sukhoi, a Russia-based Manufacturer of civil and military aircraft, and Russian Aircraft Corporation (MiG), a Russia-based aerospace and defense company merged with United Aircraft Corporation (UAC), a subsidiary of the Rostec State Corporation. The merger aims to increase UAC's financial potential, improve administrative and managerial staff efficiency, and reduce non-production costs and debt burden. Rostec State Corporation is a Russia-based involved in assisting Russian industrial product developers and manufacturers. Major players in the aircraft engines market are General Electric Company, Rolls Royce, Honeywell International, United Technologies Corporation, Safran, International Aero Engines, MTU Aero Engines, Textron, Hindustan Aeronautics, Klimov, Continental Motors Group, United Engine, Motor Sich, AVIC Aircraft, Aero Engine Corporation of China and Barnes Group. North America was the largest region in the aircraft engine market in 2022. North America is expected to be the fastest-growing region in the global aircraft engines market during the forecast period. The regions covered in the global aircraft engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the aircraft engines market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The aircraft engine market consists of sales of aircraft engines of various types such as jet and reciprocating engines to run the aircraft. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global aircraft engines market is segmented - 1) By Type: Turboprop, Turboshaft, Turbofan, Piston Engine 2) By Technology: Conventional Engine, Electric/Hybrid 3) By Platform: Fixed Wing, Rotary Wing 4) By Application: General Aviation, Business Aviation, Recreational Aviation, Others

Autonomous military aircraft refers to aircraft guided autonomously from the ground, designed to attack surface targets with bombs or missiles and destroy enemy targets in warfare. They carry sensors, target designators, offensive ordnance, and electronic transmitters, among others. The main technological types of autonomous military aircraft are remotely operated, semi-autonomous, and autonomous. The various types of aircraft include fighter aircraft, bombers, reconnaissance and surveillance aircraft, airborne early warning aircraft, and others, and the components used are flight management computers, air data inertial reference units, sensors, actuation systems, software, intelligent servos, cameras, radars, and transponders. A fighter aircraft is a fixed-wing aircraft designed for air-to-air combat against other aircraft. The autonomous military aircraft market research report is one of a series of new reports from The Business Research Company that provides autonomous military aircraft market statistics, including autonomous military aircraft industry global market size, regional shares, competitors with an autonomous military aircraft market share, detailed autonomous military aircraft market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous military aircraft industry. This autonomous military aircraft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global autonomous military aircraft market size will grow from $5.42 billion in 2022 to $5.95 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global autonomous military aircraft market size is expected to grow to $7.35 billion in 2027 at a CAGR of 5.4%. Increasing government funding on defense equipment such as autonomous military aircraft to enhance the efficiency of military operations also boosts the demand for the market. For instance, in September 2021, the UK government invested nearly £400 million in the Royal Air Force (RAF) to upgrade the capabilities of two of its most important assets: the C-17 Globemaster airplane and the CH-47 Chinook helicopter. £324 million will be invested in the UK's C-17 fleet. As part of a contract with the US Air Force, this will upgrade hardware and software to improve airlift capability. As part of a £64 million contract with Boeing Defence UK (BDUK), the UK's fleet of Mk5 and Mk6 Chinook helicopters will be improved with cutting-edge defensive systems, making them more difficult for adversaries to detect. Hence, increasing government spending on autonomous military aircraft is a key factor in driving the market. The major constraint of autonomous military aircraft is its vulnerability to jamming and spoofing. Securing GPS signals to ensure that they cannot be tampered with by enemy forces acts as the inherent liability of GPS to jamming and spoofing and acts as a major challenge. In particular, communication links between the controller and the autonomous military aircraft are extremely vulnerable and the required target accuracy is difficult to achieve due to navigation errors. Due to this, the aircraft is misdirected and becomes either unusable or a threat to their personnel equipment. For instance, in April 2022, Russian forces since the invasion of Ukraine, have been engaged in jamming the satellite navigation systems of commercial aircraft. According to Benoit Roturier, the head of satellite navigation at France's civil aviation authority DGAC, the report stated that the pilots were informed there had been disruptions near the Black Sea, the Kaliningrad region, and close to Eastern Finland. Such factors are expected to harm the demand for autonomous military aircraft and may have an impact on the growth of the market. Autonomous military aircraft companies are making efforts to embed artificial intelligence (AI) and specialize in the development of software, including machine learning and AI, that are core capabilities for these advanced systems. The ability of a system to decide on the most suitable action from sensor data input to fulfil the intent for operations by making guesses without human input can be achieved by AI technology. Through edge processing, aircraft do not have to send information to the cloud and thus may achieve greater performance, information security, and autonomy. The U.S. Defense Advanced Research Projects Agency (DARPA) is seeking to advance artificial intelligence technologies for individual and team aerial dogfighting tactics. In April 2020, Draganfly Inc., a Canada-based manufacturer of drone and UAV technologies, acquired Dronelogics Systems Inc. for USD 1.74 million. With the acquisition, the two businesses are expected to diversify their drone manufacturing technology. The product offerings and engineering advancements of Draganfly are perfectly complemented by Dronelogics. Together, the businesses would strengthen their position as market leaders in the global UAV and UVS sectors while offering specialized services to their mutual clients and business associates. Dronelogics Systems Inc. is a Canada-based company that sells drones, creates specialized solutions, provides customer training and business consultation for SFOC and UAV use. Major players in the autonomous military aircraft market are Boeing, Lockheed Martin Corp., GE Aviation, Northrop Grumman, BAE Systems, Israel Aerospace Industries (IAI), Elbit Systems, Dassault Aviation S.A., Denel Dynamics, Airbus SE, United Technologies Corporation, General Dynamics Corporation, Raytheon Company, Safran SA, Rolls Royce, China Aerospace Science, and Technology Corporation, Kratos Defence & Security Solutions Inc., and Textron Inc. Asia-Pacific was the largest region in autonomous military aircraft market in 2022. Western Europe is expected to be the fastest-growing region in the global autonomous military aircraft market during the forecast period. The regions covered in the global autonomous military aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the autonomous military aircraft market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The autonomous military aircraft market consists of sales of automatic aerial vehicles such as autonomous fighters for military applications to carry weapons and destroy the targets. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global autonomous military aircraft market is segmented - 1) By Technology: Remotely Operated, Semi-Autonomous, Autonomous 2) By Type: Fighter Aircrafts, Bombers, Reconnaissance and Surveillance Aircrafts, Airborne Early Warning Aircrafts, Others 3) By Component: Flight Management Computers, Air Data Intertial Refernece Units, Sensors, Actuation Systems, Software, Intelligent Servos, Cameras, Radars & Transponders, Propulsion Systems

An autonomous aircraft is an unmanned aircraft that does not require pilot interference in flight management. These are used as personal, passenger, and defense air vehicles. The main types of technologies in autonomous aircraft are increasingly autonomous and fully autonomous. An autonomous aircraft is one that is piloted by automatic systems and does not require the involvement of a human pilot. The different types include fixed-wing, rotary-wing, and are used in cargo aircraft and passenger aircraft. It is implemented in various sectors, such as commercial and defense. The autonomous aircraft market research report is one of a series of new reports from The Business Research Company that provides autonomous aircraft market statistics, including autonomous aircraft industry global market size, regional shares, competitors with an autonomous aircraft market share, detailed autonomous aircraft market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous aircraft industry. This autonomous aircraft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global autonomous aircraft market size will grow from $0.77 billion in 2022 to $0.84 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global autonomous aircraft market size is expected to grow to $1.09 billion in 2027 at a CAGR of 6.9%. The advancement in artificial intelligence is a key factor driving the growth of the autonomous aircraft market. Through managing aircraft and activities with AI-powered technologies, airlines and flight operators will dramatically reduce their operating costs and expenses. Artificial intelligence is now being used by the world's leading airlines to boost operating performance, prevent expensive errors, and increase customer loyalty. For instance, Airbus, one of the largest aerospace companies, is currently using AI to analyze data from multiple factories and determine when manufacturing process variations take place. It helps to resolve the problems sooner, when it's faster and less costly, or even fully avoid them. Therefore, advancements in artificial intelligence are expected to drive the growth of the autonomous aircraft market. The safety concerns related to advanced technologies used in aircraft are a key factor hampering the growth of the autonomous aircraft market. In November 2021, in a US federal court, Boeing admitted fault for the March 2019 crash of an Ethiopian Airlines Boeing 737 Max 8 and promised to make amends to the families of the victims. The new flight control software, as well as sensor flaws that hadn't been disclosed to the pilots, were found by the investigators. In July 2021, Shield AI Inc., a US-based artificial intelligence company, acquired Martin UAV for an undisclosed amount. Shield AI will incorporate its combat-proven autonomous software, Hivemind, into the V-BAT as part of this acquisition, solidifying Shield AI’s dominant position in defense-focused edge autonomy. Martin UAV is a US-based aircraft manufacturer. Major players in the autonomous aircraft market are Boeing, Airbus, Lockheed Martin, Northrop Grumman, Elbit Systems, Raytheon Company, AeroVironment Inc., Saab AB, BAE Systems, and Aeronautics Ltd. North America was the largest region in autonomous aircraft market in 2022. Asia-Pacific is expected to be the fastest-growing region in the global autonomous aircraft market during the forecast period. The regions covered in the global autonomous aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the autonomous aircraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The autonomous aircraft market consists of sales of autonomous aircraft such as personal, passenger, and defense autonomous aircraft. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global autonomous aircraft market is segmented - 1) By Technology: Increasingly Autonomous, Fully Autonomous 2) By Aircraft Type: Fixed-Wing, Rotary-Wing 3) By Application: Cargo Aircraft, Passenger Aircraft 4) By End User: Commercial, Defense

A fighter aircraft is a fixed-wing aircraft designed for air-to-air combat against other aircraft. The components of the subsystems of fighter aircraft include the fuselage, the wings, the horizontal tail, the vertical tail, and the propulsion system. The main types of fighter aircraft are conventional take-off and landing, short take-off and landing, and vertical take-off and landing. Aircraft that can hover, take off, and land vertically are classified as vertical takeoff and landing aircraft. The various systems involved are the airframe, engine, avionics, landing gear system, a weapon system that is used in homeland security and defense, and others. The fighter aircraft market research report is one of a series of new reports from The Business Research Company that provides fighter aircraft market statistics, including fighter aircraft industry global market size, regional shares, competitors with a fighter aircraft market share, detailed fighter aircraft market segments, market trends and opportunities, and any further data you may need to thrive in the fighter aircraft industry. This fighter aircraft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global fighter aircrafts market size will grow from $111.85 billion in 2022 to $122.11 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global fighter aircrafts market size is expected to grow to $156.98 billion in 2027 at a CAGR of 6.5%. Countries across the globe are striving to enhance their aerial combat capabilities for increased airborne security. The growing emphasis on airborne security is expected to boost the demand for fighter aircraft, thereby propelling the growth of the fighter aircraft market. According to the Air Force Technology, in July 2020, the government of India approved the purchase of 33 fighter aircraft to strengthen its air force capabilities during the ongoing standoff with Chinese forces on the Line of Actual Control (LAC) in Ladakh. The acquisition was cleared by the Defence Acquisition Council (DAC) and included 12 Su-30 MKI and 21 MIG-29 aircraft. Moreover, the DAC also approved the modernization of 59 existing MIG-29 aircraft. The development and adoption of autonomous aircraft are projected to limit the growth of the fighter aircraft market over the forecast period. Unmanned aerial vehicles are equipped with onboard computers that are controlled remotely by ground-based controllers. India is one of the fastest-growing markets for unmanned aerial vehicles and a leading importer of UAVs for military purposes globally. The customer-focused innovation in UAV technology and the rise in demand for UAVs for surveillance applications are expected to restrain the growth of the fighter aircraft market in the near future. Major players operating in the fighter aircraft industry are focusing on automation in the manufacturing line to reduce manufacturing time and labor costs, which is likely to be a leading trend in the fighter aircraft market. For instance, in April 2021, Korea Aerospace Industries, a South-Korea-based aerospace and defense company, declared that it will spend $88.3 million to create a unique smart manufacturing system, using it initially to produce KF-21 Boramae fighter planes. The fourth industrial revolution's digital technologies, such as artificial intelligence and big data analytics, will be the foundation of the smart manufacturing system. The sole aircraft manufacturer in the country claims that by 2023, it will create a smart manufacturing system and implement it across all of its business locations. In April 2020, Raytheon Company, a USA-based technology company specializing in defense, homeland security, and other government markets, merged with United Technologies Corporation for an undisclosed amount. The merged company, which is newly formed, is known as Raytheon Technologies Corporation and it will combine its predecessor’s legacy expertise in aeronautics, defense weapons, cybersecurity, and information technology across its four business segments, including Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. Major players in the fighter aircraft market are Lockheed Martin Corporation; Airbus SE; The Boeing Company; BAE Systems; Russian Aircraft Corporation MiG; Saab; Dassault Aviation SA; PJSC Sukhoi Company; KAI; Hindustan Aeronautics Limited; Alenia Aermacchi; Shenyang Aircraft; United Aircraft Corporation and Chengdu Aircraft Industrial Group Co. Ltd. Asia-Pacific was the largest region in the fighter aircraft market in 2022. Western Europe is expected to be the fastest-growing region in the global fighter aircrafts market during the forecast period. The regions covered in the global fighter aircrafts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the fighter aircraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The fighter aircraft market consists of sales of fighter aircraft such as air superiority fighter, fighter-bomber, heavy fighter, interceptor, and light fighter. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global fighter aircrafts market is segmented - 1) By Type: Conventional Take-Off and Landing, Short Take-Off and Landing, Vertical Take-Off and Landing 2) By Application: Homeland Security, Defense, Other 3) By System: Airframe, Engine, Avionics, Landing Gear System, Weapon System

Aerospace is the design and manufacture of aircraft, rockets, missiles, and spacecrafts that operate in the space. Defense equipment refers to weapons, arms and equipment that are used for military purposes. The main aerospace and defense types are aerospace and defense. The aerospace industry consists of companies involved in developing prototypes and the manufacturing or assembling of complete aircraft and aircraft parts for commercial purposes. The aircraft are operated through autonomous and manual modes. The different components include weapon systems, fire control systems, command and control systems, and others. The aerospace and defense market research report is one of a series of new reports from The Business Research Company that provides aerospace and defense market statistics, including aerospace and defense industry global market size, regional shares, competitors with an aerospace and defense market share, detailed aerospace and defense market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace and defense industry. This aerospace and defense market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global aerospace & defense market grew from $795.92 billion in 2022 to $855.62 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aerospace & defense market is expected to grow to $1076.56 billion in 2027 at a CAGR of 5.9%. During the forecast period, developed countries will experience low interest rates as monetary authorities are reducing interest rates to stimulate economic growth and prevent deflation. This led to the flow of cheap money for investment in these economies. Low interest rates encouraged borrowing for investment and helped drive spending. For instance, in March 2020, the Bank of England, a UK-based central bank, reduced interest rates to 0.1%, the lowest level ever, as a measure of protest against COVID-19. Major countries that had low-interest rates in the historic period included the USA, Germany, and Japan. Low interest rates will boost the growth of the aerospace and defense markets in the forecast period. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the aerospace and defense market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing was affected due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Defense equipment manufacturers depend on the supply of raw materials and parts from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and raw materials. The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the aerospace & defense market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. 8K video capture technology is being integrated with drones to enhance the picture and video quality captured by these aircraft. 8K technology offers greater horizontal display resolution and offers images that show more details than standard HD. 8K cameras integrated with drones offer higher precision and provide high-resolution footage in autonomous flights. For instance, Autel is offering its EVO series of drones with 8K cameras. Major companies in the aerospace & defense market include Airbus Group SE, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Raytheon Co, Northrop Grumman Corp, Bae Systems plc, General Dynamics, General Electric Company, and Safran SA. North America was the largest region in aerospace & defense market in 2022. North America is expected to be the fastest growing region in the forecast period. The regions covered in the aerospace and defense market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the aerospace & defense market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The aerospace and defense market consists of sales of aircraft, aircraft components, weapons, artillery tanks, and radar equipment for aerospace and defense purposes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global aerospace and defense market is segmented - 1) By Type: Aerospace, Defense 2)By Operation: Autonomous, Manual 3) By Component: Weapon System, Fire Control System, Command and Control System, Others Subsegments Covered: Commercial Aircraft, Aircraft Maintenance, Repair and Overhauling Services, Aerospace Support and Auxiliary Equipment, Air based Defense Equipment, Sea based Defense Equipment, Land based Defense Equipment, Defense Equipment Maintenance, Repair and Overhauling Services, Defense Support and Auxiliary Equipment

The aerospace support and auxiliary equipment refers to support and auxiliary equipment used in aerospace to support operations such as air traffic control towers. The market includes maintenance services provided by aerospace support and auxiliary equipment manufacturers during the equipment’s warranty period. The main types of aerospace support and auxiliary equipment are commercial radars and satellites. A commercial radar is a detection system used to detect the presence, direction, distance, and speed of an aircraft. The various forms of ownership include private, public, and involve several platforms such as airborne, land, naval, and space. The aerospace support and auxiliary equipment market research report is one of a series of new reports from The Business Research Company that provides aerospace support and auxiliary equipment market statistics, including aerospace support and auxiliary equipment industry global market size, regional shares, competitors with an aerospace support and auxiliary equipment market share, detailed aerospace support and auxiliary equipment market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace support and auxiliary equipment industry. This aerospace support and auxiliary equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global aerospace support and auxiliary equipment market grew from $31.3 billion in 2022 to $33.71 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aerospace support and auxiliary equipment market is expected to grow to $41.14 billion in 2027 at a CAGR of 5.1%. Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) are expected to drive innovation in the defense market, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs, and higher margins. Lower operating costs lead to higher margins. This allows companies to expand production and increase product portfolios, thus driving the growth of the aerospace support and auxiliary equipment market. The Multi-Function Radio Frequency System (MFRFS) is increasingly being used for operational radar frequency ranges towards applications for broadband. The MFRFS is an electronically scanned radar system that can detect and track threats at a wider range. The increased frequency range improves survivability for combat missions when there is no visibility in both horizontal and vertical directions (zero-zero visibility). It also provides additional electronic warfare functionalities and gives the pilots the ability to land safely in adverse conditions. Raytheon and NCS are manufacturing radars with MFRFS technology. Major companies in the aerospace support and auxiliary equipment market include Lockheed Martin, Northrop Grumman, Raytheon, Reutech Radar Systems, and Rockwell Collins. Asia-Pacific was the largest region in the aerospace support and auxiliary equipment market in 2022. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the aerospace support and auxiliary equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in aerospace support and auxiliary equipment market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The aerospace support and auxiliary equipment market consists of sales of aerospace support and auxiliary equipment such as radars, and air traffic control towers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global aerospace support and auxiliary equipment market is segmented - 1) By Type: Commercial Radars, Satellites 2) By Ownership: Public, Private 3) By Platform: Airborne, Land, Naval, Space Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite

The aerospace refers to a range of activities including production of commercial aircraft, aircraft maintenance, repair, and overhaul services, and product support and auxiliary equipment, such as radar, air traffic control towers, and satellites for civilian and commercial purposes. The aerospace industry consists of companies involved in developing prototypes and the manufacturing or assembling of complete aircraft and aircraft parts for commercial purposes. This industry also includes companies that provide modifications or conversions, repair, parts replacement, and complete overhauling and rebuilding of commercial aircraft. The types of aircraft manufactured by companies in this industry include gliders, helicopters, drones, ultra-light aircraft, passenger aircraft, and private jets. The main types of aerospace are commercial aircraft; aircraft maintenance, repair, and overhaul services; aerospace support; and auxiliary equipment. The aircraft maintenance, repair, and overhaul services include maintaining, repairing, and overhauling commercial aircraft, including helicopters, gliders, drones, aircraft turbines, aircraft engines, and rocket engines. The various sizes include wide-body, narrow-body, regional, and others that are operated in autonomous and manual mode. Aerospace is used by the government and private sector. The aerospace market research report is one of a series of new reports from The Business Research Company that provides aerospace market statistics, including aerospace industry global market size, regional shares, competitors with an aerospace market share, detailed aerospace market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace industry. This aerospace market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global aerospace market grew from $261.12 billion in 2022 to $278.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aerospace market is expected to grow to $358.44 billion in 2027 at a CAGR of 6.5%. The overall economic growth of the emerging economies is expected to positively impact the commercial aircraft manufacturing market. Rising disposable income, a result of economic growth in emerging markets, had a positive impact on the demand for air travel. The International Monetary Fund (IMF) stated that global GDP growth was 5.4% in 2021. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the nation's security, thereby driving the aerospace market during the forecast period. Aircraft manufacturers are using 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 component life and reduces maintenance costs. Boeing has successfully built machine-learning algorithms to design aircraft and automate factory operations. Helicopter manufacturing companies are increasingly using parts produced with carbon fiber reinforced plastic composite (CFRP) material as this material provides higher strength to helicopter parts than conventional metal parts. CFRP materials enhance the strength and lower the weight of helicopters and offer higher corrosion resistance. These properties enable helicopters to handle higher loads. Major helicopter manufacturers using CFRP materials include Airbus, Boeing, and Sikorsky. Major companies in the aerospace market include Airbus Group SE, Raytheon Technologies Corporation, The Boeing Company, General Electric Company, Safran SA, General Dynamics, Rolls-Royce Holdings plc, Northrop Grumman Corp, Bombardier Inc., and Honeywell International Inc. North America was the largest region in the aerospace market in 2022. North America is expected to be the fastest growing region in the forecast period. The regions covered in the aerospace market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the aerospace market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The aerospace market consists of sales of civilian and commercial aircraft, aircraft components, MRO services, and aerospace equipment support. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global aerospace market is segmented - 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