According to a new market report published by Credence Research Inc “Aerospace Engineering Market– Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2025,” The aerospace engineering market worldwide was valued at US$ 70.0 Bn in 2016, and is expected to expand at a CAGR of 4.1% from 2017 to 2025.
The purpose of the report is to illustrate the state of the market of Aerospace Engineering, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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As of 2016, the overall aerospace engineering market is led by the aerospace structures segment. The segment contributed to over 60% of the total market revenue in 2016. The aerospace structures encompass numerous components such as fuselage, wings, empennage, vertical stabilizer, control surfaces and rudder, lift control devices, powerplant, flap, propeller, propulsion devices, landing gear, nose gear, cockpit, controls, systems and hydraulics, among others. The aerospace engineering services segment is expected to witness the fastest growth during the forecast period from 2017 to 2025.
North America was the largest regional aerospace engineering market followed by Europe and Asia Pacific. The revenue share of North America in the global Aerospace Engineering market stood at 37.2% in 2016. The U.S. represents the largest aerospace engineering market in North America. Aircraft engineering is considered backbone of the U.S. manufacturing industry. The U.S. government also offers significant attention on aerospace manufacturing industry as it comprises around 3% of the country’s manufacturing workforce. In addition, U.S. is the largest exporter of aerospace vehicles and equipment and exports to its international customers in Japan, Germany, France, UK and others. From several years, the U.S. is the dominant in the global large commercial jet manufacturing industry. Though, the U.S. has observed decline in production of general aviation aircrafts, the production is expected to increase in the future with increasing number of air travelers and rising demand for aircrafts from Japan, France, Brazil, Canada, Germany, China and other countries across the world. This represents a positive outlook for aerospace engineering industry. According to General Aviation Manufacturers Association, the U.S. has shipped 1,525 units of airplane in 2016, the number is increased by 60 units from 1,465 units in 2011. The unit shipment of airplanes is expected to increase in the country with increasing number of domestic as well as international travelers. The U.S. exported about US$ 131.1 Bn of aerospace products in 2015. The aircraft and spacecraft industries remain the fastest growing industry in the US, and constitute the third highest export sector at 8.7% of the overall exports of the United States.
UTC Aerospace Systems is among the market leaders in the global aerospace engineering market. UTC Aerospace Systems focuses on the development of new system and services for new age aircraft for both military and commercial aircraft. The company perpetually introduce a new and improved solution for the aircraft such as new non-chromate landing gear corrosion protection primer incorporating its patented EcoSk pigment recently. The company has also adopted the strategy of alliances with other companies to maintain its market value and position.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Aerospace Engineering buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Aerospace Engineering contains:
Analysis and forecast of Aerospace Engineering market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Aerospace Engineering market;
Assessment and forecast of Aerospace Engineering market development;
Financial and business profiles of the leading companies in the Aerospace Engineering industry.
– Up to date working Aerospace Engineering data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Aerospace Engineering for the period 2018 to 2026
– Planned Aerospace Engineering additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Aerospace Engineering projects by region, key countries, and companies
– Details of major planned Aerospace Engineering projects in the world up to 2026
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