The global aircraft manufacturing market size is anticipated to witness steady growth over the forecast period. The aircraft manufacturing industry analysis shows that the market was valued at USD 43.94 billion in 2017 and is projected to showcase healthy growth over the forecast period. Favorable economic growth across the world coupled with government support for the development of the aviation industry are some of the key factors supporting the growth of the global aircraft manufacturing market size.

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Aircraft manufacturing includes the manufacturing and assembly of an aircraft body as well as all the components and software required for its functioning. The modern aerospace industry has been around for just over a century with the discovery of airplanes by the Wright Brothers in 1903. Since then, the aerospace industry has grown tremendously in numerous ways including design, use, and technology. Today, the aerospace is broadly divided on the basis of product into gliders, helicopters, ultra-light aircraft, passenger aircraft, unmanned aerial vehicle & drones and blimps (airship). These aircraft are used for numerous applications including military & defense, civil & tourism, commercial (freight/air cargo) and others including agriculture and experiments & prototypes.

An increasing number of passengers is the key factor for increasing demand for civil aircraft. Continued strong consumer spending has bolstered air travel, and industrial production has recovered, lifting air cargo and some segments of business travel. The growth of the middle-class group coupled with rising travel & tourism is a major factor to propel the global aircraft manufacturing market size growth.

The aircraft manufacturing industry analysis highlights a new trend that is being witnessed in the air cargo industry - the rising importance of the e-commerce industry. In 2017, air cargo traffic grew 10.1%, more than two times the long-term average growth rate of 4.2%. Three key elements support the recent strong uptick in the aircraft manufacturing market size - synchronized global economic expansion, increasing industrial production, and world trade growth.

However, the current political instability is likely to hamper the growth of the aircraft manufacturing sector. The aviation industry is highly susceptible to the federal that are related to international trade scenario, taxation & law.

It is also impacted by issues like war, terrorism, and the outbreak of epidemic diseases such as Ebola. Political instability is expected to hamper the sales of aircraft, which in turn may dent the purchase order and profits of manufacturers, thus, posing a threat to the growth of the global aircraft manufacturing industry.

In terms of the global aircraft manufacturing market share, North America continues to hold the leading position. The region has evolved after a period of bankruptcy, consolidation, and economic recession. Stronger operators have emerged with an increased focus on improved productivity and cost reduction, and some have prioritized optimization programs to simplify fleets and sub-fleets. Aircraft utilization has improved and load factors remain at or near record highs owing to which the aircraft manufacturing market size remains at a record high. North America alone accounted for more than 35% market share in 2017.

Europe and Asia Pacific region are also witnessing significant developments in the global aircraft manufacturing market. Asia Pacific is projected to maintain its continued growth largely due to increasing defense spending by countries such as China, India, South Korea, and even ASEAN region. The strong economic growth in Asia Pacific has created a new category of the middle-class that has boosted the number of air travelers in the region. Favorable policies created by the governments of these countries have further encouraged investments in the airline sector. Overall, the global aircraft manufacturing industry analysis shows positive growth trends across a major part of the world.

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In terms of market competitiveness, the major chunk of the global aircraft manufacturing market share is held by global companies such as Boeing and Airbus. Growth in demand for passenger aircraft, especially from Asia Pacific region is leading to increased sales and aircraft orders for these companies. Rising military expenditure is also driving the sales of fighter aircraft, and hence, the global aircraft manufacturing market size.

What does the report include?

The study on the global aircraft manufacturing market includes qualitative factors such as drivers, restraints, and opportunities
Additionally, the market has been evaluated using the value chain, Porter's Five Forces' analysis, PESTEL analysis and manufacturing cost breakdown
The study covers qualitative and quantitative analysis of the market segment on the basis of product type, application, and region (and country).
Actual market sizes and forecasts have been provided for all the above-mentioned segments
The study includes the profiles of key players (aircraft manufacturers and parts & component manufacturers) in the market with a significant global and/or regional presence
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