New Study Adds "Aerospace & Defense Market –Market Demand, Growth, Opportunities, Analysis of Top Key Players and Forecast to 2025" to Research Database.
New Study Reports "Aerospace & Defense 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2025".
Introduction / Market Overview:
Global Aerospace and Defense Market to Maintain Growth Momentum
The global aerospace and defense industry comprise establishments that develop prototypes and build or assemble the entire aircraft or its parts, radars, weapons, etc. It also involves companies that manufacture/assemble ground vehicles for civilian and military use. These companies offer post-sale services such as maintenance, repair, and overhaul to the aircraft and other defense systems. The aerospace and defense market are expected to report strong global growth brought upon by a solid 2018, which saw an unprecedented global demand for air travel.
During the projected 2018-2025 time period, the aerospace and defense market is expected to maintain the momentum due to the increase in the manufacturing of the commercial aircraft, and considerable investments towards defense equipment. The global military spend remained on the growth trajectory amid rising geopolitical tensions, which has led to a demand for military equipment. There is also a demand for system upgrades of the current fleet in developed countries.
More and more countries are using passive radars due to their cost-effectiveness and wide range of applications across defense and civil aviation. Passive radars deploy the existing atmospheric electromagnetic signals to support imaging and tracking. In contrast, the regular radar sends electromagnetic signals to its target and locates it by receiving reflected signals.
Important Manufacturers Analysis: Boeing, Airbus, Lockheed Martin, United Technologies, General Electric and more.
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The global aerospace and defense market can be segmented depending upon the type, region, application, etc. of the products. When segmented according to the type, the products can be divided in terms of usage, including cybersecurity, homeland security, and border security. When segmented by the application, the aerospace and defense products can be split into land, air, and sea.
Commercial aircraft manufacturing has the biggest market share in the global aerospace market, followed by aircraft maintenance, repair, and overhaul services and aerospace support, and auxiliary equipment manufacturing. In the global defense market, air-based defense equipment manufacturing gained prominence, followed by sea and land-based defence equipment manufacturing, defence equipment maintenance, repair and overhauling services and defence support, and auxiliary equipment manufacturing.
Geopolitical uncertainties and growing anti-terrorism undertakings have led to an increase in the defense budget of major economies such as the United States, China, and India. The United States is expected to retain the top spot for global aerospace and defense spending during the forecast period, 2018-2025.
North America was the biggest region in the global aerospace and defense market, followed by the Asia Pacific. Meanwhile, Africa was the smallest region in terms of the global aerospace and defence market. Also, the expanding economies of China and India will give a significant push to passenger air travel, which is likely to report growth that's in double-digits.
Aerospace & Defense Manufacturers
Aerospace & Defense Distributors/Traders/Wholesalers
Aerospace & Defense Subcomponent Manufacturers
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The key players, like Boeing, Airbus Lockheed Martin United Technologies General Electric, will continue to dominate the global aerospace and defense market during the forecast period of 2018-2025. Major players in this space are moving towards forming strategic partnerships and mergers to increase their market share and profitability. OEMs are striking alliances with MRO providers and vice versa to cater to the spike in the aftermarket needs and capture the MRO data value chain.
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Source: EIN Presswire