The Global Aerospace & Defense Market Was Valued At $1 Trillion In 2017 According To TBRC’s Latest Report

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.

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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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