Aerospace

Aerospace

  • The worldwide aerospace industry was worth roughly $298.0 billion in 2020, and it is predicted to increase at a 7.7 percent annual rate to $430.9 billion in 2025.
  • Allowing the use of drones for commercial purposes is becoming more widespread, opening up a new cash stream for aircraft makers.
  • The following are major trends impacting the aerospace market: Smart Materials and Virtual Reality (VR) Applications in Aerospace Manufacturing
  • In 2020, the passenger aircraft market was the most important section of the commercial aircraft market, accounting for 53.5 percent of the total.