Global Aerospace Engineering Market Overview:
Aerospace engineering deals with the development and maintenance of aircraft and spacecraft. Various engineering disciplines such as aerodynamics, propulsion, structural analysis, and manufacturing together make up to aerospace engineering. Growing technical advancement fueled by innovations is driving the very market. Developed nations have seen phenomenal growth in the industry as the United States and France together account for over 50 % of share in the market. The recent push in defense activities in emerging countries owing to rise in military budgets offers a lucrative opportunity for service providers to flourish in the market. According to AMA, the Global Aerospace Engineering market is expected to see growth rate of 4.2% and may see market size of USD103.4 Billion by 2026.
- Increasing Air Traffic Owing to Influx in Air Passenger
- Increasing Demand for Quality Improvement in Aerospace Vehicles
- Introduction of Lightweight Aircraft Components
- Use of Advance Materials
- Incorporation of 3D Printing Technology
- Volatile Geopolitical and Economic Environment
- High Cost of Raw Materials
- Product Up-gradation and Technological Innovation
- GDP growth in Emerging Economies
- Adopting Smart Automation and Block-chain Technologies
- Cylindrical Nature of Sale in the Industry
- Proper Management of Supply Chain
- Cyber Threat Owing to Increased Digitization
The leading aircraft original equipment manufacturers and suppliers are altering the aerospace business. Recently, Boeing in collaboration with Embraer expanded its position in narrow body aircraft category. Additionally, Airbus tie up with Bombardier on c series was significant as it got control of C-series aircraft without making cash investment.
Some of the key players profiled in the report are Saab Group [Sweden], WS Atkins Plc [United Kingdom], Bombardier, Inc [Canada], Lockheed Martin [United States], Elbit Systems Ltd [Israel], Leonardo DRS [United States], Safran System Aerostructures [France], Sonaca Group [Belgium], Strata Manufacturing PJSC [United Arab Emirates], UTC Aerospace Systems [United States] and General Dynamics Corporation [United States]. The Manufacturers having a strong hold in the market are Saab Group, WS Atkins Plc, Bombardier, Inc., Elbit Systems Ltd., Leonardo DRS, and Lockheed Martin. Additionally, following companies can also be profiled that are part of our coverage like Embraer Executive Jets [United States], Gulfstream Aerospace [United States], Dassault Falcon Jet [United States], Cyient Ltd [India], Northrop Grumman [United States], Spirit AeroSystems [United States] and Griffon Aerospace [United States]. Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Aerospace Engineering market by 2026.
Latest Market Insights:
Key players and research institutes are focusing on developing hybrid-electric aircraft. Of late, in November 2018, University of Illinois aerospace engineers are testing a more sustainable alternative to fossil fuels to power airplanes.
Aerospace industry is subjected to stringent regulatory guidelines as air-safety is paramount. Global regulatory bodies such as European Aviation Safety Agency (EASA) makes the regulatory framework in this regard. EASA emphasizes on certification of all stake holders. Recently, EASA suspends certification of GMR Aero Technic, which provides maintenance overhaul services for aircraft. The regulatory body did not specify the proper reason for suspension, but said that re-approval would depend on progress made
What Can be Explored with the Aerospace Engineering Market Study Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Aerospace Engineering Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Aerospace Engineering
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:The top-down and bottom-up approaches are used to estimate and validate the size of the Global Aerospace Engineering market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Aerospace Engineering market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Original Equipment Manufacturer, Suppliers/Distributors, System Integrators, Government Agencies, Research Institute, potential Investors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.