EXPERTISE SECTORAerospace & Defense

The aerospace and defense industry is set to bounce back

The aerospace and defense industry includes commercial aviation, as well as the design, development, and manufacturing of technologically advanced aircraft, space systems, and defense capabilities.

The US aerospace and defense industry alone is expected to grow to a value of $550 billion at a CAGR of 2.37% in the forecast period of 2021-2030. While the global aerospace and commercial aviation industry has especially been on the decline and was put into crisis with COVID-19, it is expected to recover by 2023. However, overall in the past two decades, aviation and the aerospace industries have stayed resilient. The top aerospace companies include Airbus, Boeing, and Lockheed Martin. Airbus revenues amount to $24.6 billion in the first half of 2021 in COVID-19. The defense sector has stayed strong throughout the pandemic and even shows potential for growth.

Industry outlook

Moving into the future the aerospace and defense industry must leverage emerging technologies to tackle manufacturing issues, and delayed pre-pandemic demand for aircraft. Additionally, with sustainability and emissions concerns the sector must create innovative solutions and technologies to drive decarbonization. Commercial aviation will see increases following globalization and the growing middle-class population wanting to travel.

Key trends in aerospace & defense industry

Advanced Air Mobility (AAM)
Decarbonization & Electrification of Aviation
Commercialisation to Space
Aftermarket & recycling
Smart Factories
Airborn last-mile logistics

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