(Companies Covered: The Boeing Company, Airbus, Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation)
The global aerospace market is expected to decline from $342.4 billion in 2019 to $332.3 billion in 2020 at a compound annual growth rate of -3%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a rate of 5% from 2021 and reach $378.5 billion in 2023.
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The aerospace market consists of sales of aerospace equipment by entities (organizations, sole traders and partnerships) that produce commercial aircraft, undertake aircraft maintenance, repair and overhauling services, produce support and auxiliary equipment, such as radar, air traffic control towers and satellites, or produce sea-based defense equipment.
Global Aerospace Market Segmentation –
1) By Type: Commercial Aircraft Manufacturing, Aircraft Maintenance, Repair And Overhauling Services, Aerospace Support And Auxiliary Equipment Manufacturing.
2) By Size: Wide-Body, Narrow-Body, Regional, Others.
3) By End-User: Government, Private Sector, By Operation Into Autonomous Aircraft, Manual.
Global Aerospace Market Driver –
Aircraft manufacturers are using machine-learning techniques such as artificial intelligence (AI) to improve safety, productivity and quality of aircrafts. 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 costs.
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Few Points From The Global Aerospace Market TOC
1. Executive Summary
2. Report Structure
3. Aerospace Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Aerospace Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Aerospace Market Supply Chain
5.1. Supply Chain
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