The “Aircraft Manufacturing Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Aircraft Manufacturing Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global aircraft manufacturing market size was US$ 291.1 million in 2021. The global aircraft manufacturing market is forecast to grow to US$ 481.6 million by 2030 by growing at a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
The global aircraft manufacturing market is forecast to witness inevitable growth throughout the forecast period due to the growing urban population and rising employment rate. In addition, favorable support from government bodies to improve the aerospace and defense sector will surge the growth of the market.
The term aerospace encompasses gliders, helicopters, passenger aircraft, uncrewed aerial vehicles & drones, ultra-light aircraft, and airships. The wide applications of aerospace in military & defense, civil & tourism, commercial, and other sectors will propel the global aircraft manufacturing market forward.
Increasing defense expenditure will contribute to market growth. In addition, initiatives by industry players to introduce sustainable solutions will bring significant evolution in the industry. For instance, Airbus and CFM recently unveiled their plans to jointly test hydrogen plane propulsion. Moreover, Brazil’s Embraer also inked an R&D partnership with Widerøe and Rolls-Royce for the development of sustainable aircraft.
Growing advancements, such as the use of ML (Machine Learning) techniques such as AI (Artificial Intelligence) in airplane manufacturing to improve safety, quality, and efficiency, will benefit the global aircraft manufacturing market. The ML algorithms are used to collect the data and analyze it. In addition, technological innovations aiming to reduce manufacturing costs and improve the performance of airplanes will benefit the global aircraft manufacturing market.
COVID-19 Impact Analysis
The wake of the pandemic drastically hampered the entire aerospace industry. Government authorities also started focusing more on healthcare instead of infrastructure, aerospace, and other industries. Thus, it restricted aircraft manufacturing activities.
In addition, imposed lockdown and other restrictions halted international trade, which hampered the R&D activities. Thus, all of these factors negatively impacted the global aircraft manufacturing market.
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Regional Analysis
North America is forecast to hold the highest share in the global aircraft manufacturing market, owing to the increasing focus on improved productivity and cost reduction to facilitate fleets and sub-fleets. In addition, growing spending in the defense sector will contribute to the growth of the market.
Europe and Asia-Pacific are also forecast to register significant growth due to increasing defense spending in emerging economies like China, India, South Korea. In addition, favorable policies developed by the governments of these countries will further contribute to the growth of the global aircraft manufacturing market.
Competitors in the Market
- The Boeing Company
- Airbus Group
- Lockheed Martin Corp.
- BAE Systems PLC
- Bombardier Inc.
- Other Prominent Players
Market Segmentation
The global aircraft manufacturing market segmentation focuses on Product, Applications, and Region.
By Product
- Gliders
- Helicopters
- Ultra-Light Aircraft
- Passenger aircraft
- Unmanned aerial vehicles & drones
- Blimps (Airship)
By Applications
- Military & defense
- Civil
- Commercial (Freight)
- Others (Agriculture, Experiments & prototypes)
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By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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