Over the five years to 2018, the Global Military Aircraft and Aerospace Manufacturing industry has suffered setbacks. During the first half of the five-year period, high levels of debt, underperforming economies and reduced involvement in combat operations, forced most Western nations to reduce their spending on defense. These cuts included fewer purchases of industry products such as military aircraft, missiles, satellites, radars and avionics. However, non-Western countries increased spending on industry products. Faster emerging market growth enabled more nations to spend on military procurement, while geopolitical tensions in the Middle East and Asia provided further incentive to buy new aircraft and missiles. Over the five years to 2023, industry revenue is forecast to...purchase to read more.

Industry Statistics & Market Size
Revenue
$235bn
Annual Growth 13-18
-2.8%
Forecast Growth 18-23
x.x%lock
Profit
x.x%lock
Employment
971,865
Businesses
3,423
Market Share of Companies
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Industry Report - Industry Products Chapter

Aircraft and partsAircraft and associated parts manufacturing is the largest product segment in the industry, accounting for 38.6% of industry revenue. Aircraft manufacturing, which makes up the majority of this segment, includes the production of bombers, fighters, tankers, cargo aircraft, trainers, unmanned aerial vehicles (UAVs) and rotary aircraft such as helicopters. Fighter or attack aircraft are designed for aerial combat while bombers are designed to attack ground and sea targets using missiles, torpedoes or bombs. Cargo aircraft are airplanes built to carry supplies, personnel and equipment. Tankers are made to refuel aircraft in-flight, thereby extending their range. UAV...purchase to read more.

Additional Insights for the Global Military Aircraft & Aerospace Manufacturing Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Global Military Aircraft & Aerospace Manufacturing Industry are

  • Prompt delivery to market
  • Ability to expand and curtail operations rapidly in line with market demand
  • Well-developed internal processes

    • IBISWorld analysts also discuss how external factors such as GDP of the European Union and NATO defense spending in the Global Military Aircraft & Aerospace Manufacturing industry impact industry performance..

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    What's in this report

    Industry Products

    What is the Global Military Aircraft & Aerospace Manufacturing Industry?

    Companies in this industry manufacture complete military aircraft, missiles or space vehicles, along with associated parts and services. Industry operators also develop prototypes of aerospace products, convert aircraft (i.e. conduct major modifications to systems) and complete aircraft or propulsion system overhaul and rebuilding (i.e. periodically restoring aircraft to original design specifications).

    Industry Products
  • Aircraft and parts
  • Missiles
  • Space systems
  • MRO and other services
  • Avionics and electronic systems
    • Industry Activities
  • Manufacturing military aircraft, missiles and space vehicles
  • Manufacturing military aerospace engines, propulsion units, auxiliary equipment or parts
  • Developing and making military prototypes
  • Military aircraft conversion
  • Military complete aircraft or propulsion system overhaul and rebuilding
  • Manufacturing military space launch vehicles
  • Maintenance and post-sale servicing of manufactured products
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • GDP of the European Union
  • NATO defense spending
  • US Gross domestic product (GDP)
  • Regulation for the Global Military Aircraft and Aerospace Manufacturing industry
  • World price of steel

    • Current Performance
    Western demand dynamicsGlobal demand dynamicsOther trends
  • Chart: Revenue Growth

    • Industry Outlook
    Western spending growsGlobal demandGrowing participation
  • Table: Global Military Aircraft & Aerospace Manufacturing Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Global Military Aircraft & Aerospace Manufacturing Industry Lifecycle vs The Economy

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Global Cargo Airlines
  • Global Public Administration and Defence

    • Key Selling Industries
  • Global Commercial and Service Machinery Manufacturing
  • Global Computer Hardware Manufacturing
  • Global Iron and Steel Pipe and Tube Manufacturing
  • Other Global Manufacturing
  • Other Global Mining and Quarrying

    • Products & Services
  • Aircraft and parts
  • Avionics and electronic systems
  • MRO and other services
  • Missiles
  • Space systems
  • Chart: Global Military Aircraft & Aerospace Manufacturing Industry Products and Services Segmentation

    • Demand Determinants
    Major Markets
  • United States
  • Other
  • Europe
  • China
  • Russia
  • Chart: Major Market Segmentation for the Global Military Aircraft & Aerospace Manufacturing Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Global Military Aircraft & Aerospace Manufacturing

    • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Global Military Aircraft & Aerospace Manufacturing Industry

    • Industry Globalization

    Major Companies

    Lockheed Martin Corporation, Northrop Grumman Corporation, The Boeing Company, Raytheon Company, Airbus Group,
  • Table: Lockheed Martin Corporation - financial performance
  • Table: Northrop Grumman Corporation - financial performance
  • Table: The Boeing Company - financial performance
  • Table: Raytheon Company - financial performance
  • Table: Airbus Group - financial performance

    • Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Global Military Aircraft & Aerospace Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance

    Key Statistics

    Table: Industry Data for the Global Military Aircraft & Aerospace Manufacturing Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Non-NATO defense spending (2009-2023)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data

    Jargon & Glossary

    European Aviation Safety Agency (Easa)
  • The agency that regulates the aviation industries in Europe.
    • Fifth-Generation Jet Fighter
  • The newest generation of jet fighters that typically have stealth technology and highly advanced avionics and sensors.
    • Unmanned Aerial Vehicle (Uav)
  • Aircraft that are flown without an onboard pilot, either by remote control or autonomous software.
    • What Our Customers Say
    Why buy this report?

    The global economy presents its own set of opportunities and threats for businesses in a range of industries. IBISWorld’s Global Military Aircraft & Aerospace Manufacturing global market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report focuses on industry performance in key regions around the world and identifies the leading companies globally.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Global Military Aircraft & Aerospace Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Global Military Aircraft & Aerospace Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Global Military Aircraft & Aerospace Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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