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.
The global
aerospace & defense market was valued at $1 trillion in 2017. This is due
to high demand for commercial aircrafts from air travels across the world
especially developing countries. Additionally, demand for automated and smart
weapons to have combat edge due to rising geopolitical tensions is further
supporting the market.
The market can
be split as aircrafts, aircraft components manufacturing and repair services,
radars and weapons and guided missile, space vehicle and military ground
vehicles.
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North America
was the largest region in the aerospace & defense market in 2017,
accounting for more than 30% share in the market.
The USA was the
largest country in the market with more than 30% market share, followed by
China and Russia.
The major
competitors in the market are The Boeing Company, Airbus Group, Lockheed Martin
Corporation, United Technologies Corp. and General Electric Company. The Boeing
Company was the largest competitor. It was founded in 1916 and is headquartered
in Chicago, USA. The company is involved in designing, developing,
manufacturing, selling, and servicing of commercial jetliners, military
aircraft, satellites, missile defense, human space flight, and launch systems
and services.
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