Aerospace Engineering Market was valued at USD 71 Billion in 2022 and is projected to reach USD 98 Billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
The aerospace engineering market was valued at approximately USD 315 billion in 2022, with a compound annual growth rate (CAGR) of around 5.3% projected through 2027. This growth is driven by increasing investments in aircraft modernization, the development of advanced technologies such as electric and hybrid propulsion systems, and the expanding commercial space industry. The market's expansion is further supported by rising air travel demand, both from passengers and cargo, which is necessitating enhancements in aircraft performance, safety, and efficiency. Moreover, advancements in materials science and automation are contributing to the development of next-generation aerospace systems.
Opportunities within the aerospace engineering sector are significant, particularly in the context of emerging markets. Countries with burgeoning aerospace industries are investing heavily in infrastructure and technology to support both military and civilian aerospace applications. The integration of artificial intelligence, machine learning, and autonomous systems is opening new avenues for innovation and efficiency. Additionally, the growing focus on sustainable aviation and space exploration presents new growth prospects. With the advent of commercial space tourism and satellite megaconstellations, the sector is poised to experience dynamic growth and diversification, attracting substantial investment and fostering technological advancements.
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WS Atkins Plc
Bombardier
Inc Cyient Ltd
Elbit Systems Ltd
Leonardo DRS
Saab Group
Safran System Aerostructures
Sonaca Group
Strata Manufacturing PJSC
UTC Aerospace Systems
General Dynamics Corporation
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Aerospace Engineering Market
Aircrafts
Spacecrafts
Based on Types the Market is categorized into Below types that held the largest Aerospace Engineering market share In 2023.
Aerostructures
Engineering Services
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Aerospace Engineering Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Aerospace Engineering Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Aerospace Engineering Market, By Type
6. Global Aerospace Engineering Market, By Application
7. Global Aerospace Engineering Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Aerospace Engineering Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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