The Aircraft Manufacturing Market Gained the Most Opportunities From the Civil and Military Airplanes Manufacturing Market Together Worth $259 Billion: The Business Research Company
LONDON, July 17, 2019 /PRNewswire/ -- The aircraft manufacturing market is split by segments into civil airplanes, military airplanes manufacturing, civil and military helicopters manufacturing, civil and military drones manufacturing, and civil and military gliders manufacturing. The civil airplanes manufacturing market was the largest segment in the global aircraft manufacturing market, worth more than $163 billion in 2018. The civil airplanes market consists of sales of airplanes for civilian purposes by companies that manufacture aircrafts for civilian purposes. This industry consists of companies involved in the development and manufacturing of aircraft for commercial passenger and cargo transportation, governments, surveillance and observation, and aerial refueling purposes. This segment also includes private companies' sales of equipment for space missions.
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Military airplanes manufacturing was the second largest segment in the global aircraft manufacturing market, worth more than $95 billion in 2018. Increased funding for the defense sector in response to geopolitical tensions will drive the military airplanes manufacturing segment to grow at an annual rate of nearly 7% to 2021, the third highest after the civil and military drones manufacturing and civil airplanes manufacturing segments.
Types Of Aircraft Manufactured- Helicopters, Drones, Fighter Jets
The aircraft manufacturing market is a sub-segment of the aircraft and aircraft parts manufacturing and repair & maintenance market. The aircraft and aircraft parts manufacturing and repair & maintenance industry consists of companies involved in developing prototypes and manufacturing or assembling of complete aircraft and aircraft parts. This industry also includes companies that provide modifications or conversions, repair, parts replacing, and complete overhauling and rebuilding of aircraft. The types of aircraft manufactured by companies in this industry include gliders, helicopters, drones, ultra-light aircraft, passenger aircraft, private jets, military aircrafts, fighter jets, bombers and unmanned and robotic aircraft. The combined global aircraft parts manufacturing and repair & maintenance market and global aircraft manufacturing market reached a value of nearly $523 billion in 2018, having grown at more than 3.5% since 2013. It will grow at an annual growth rate of 9% to nearly $679.2 billion by 2021.
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The Boeing Company Is The Largest Aircraft Manufacturer
The aircraft manufacturing industry is highly concentrated with two large players (The Boeing Company and Airbus Group) each holding a significant market share. The Boeing Company was the largest company in the aircraft, aircraft parts manufacturing and repair & maintenance market, with about 16% share of the market in 2018. It was founded in 1916 and is headquartered in Chicago, USA. The company is involved in designing, developing, manufacturing, selling, and servicing commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services. Boeing operates in over 65 countries worldwide, and also offers performance-based logistics and training services. Other major players in the aircraft manufacturing industry are Lockheed Martin Corp., United Technologies Corp., and General Electric Company.
The USA Presents Top Opportunities In Aircraft Manufacturing
The top opportunities in the global aircraft manufacturing market and the aircraft parts manufacturing and repairs & maintenance market will arise in the civil airplanes manufacturing segment which will gain about $76 billion of global annual sales by 2021, and in the USA, where an almost identical amount will be added to the overall market. 14 market-trend-based and five player-adopted strategies for aircraft manufacturing industry businesses include those in low-cost countries competing for business in the major aircraft manufacturing countries, offering retro-fitting of inflight entertainment systems, developing turboprop models, investment in engine overhaul facilities, strengthening market presence in their regional aviation market and for businesses in all segments, major investment in research and development.
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