Global Overview of the Aerospace Industry

June 2022

This briefing examines how the aerospace industry is performing globally and in the largest countries in terms of aircraft production. The report also provides data for production, market size, imports, exports, industry costs, industry profitability and number of companies. The industry and market overview provide benchmarks against other countries in the region.

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Examining Key Trends Shaping the Aerospace Industry

Focus on Asia Pacific

Aerospace manufacturers are expected to further increase their focus on the Asia Pacific region by strengthening production and increasing collaboration with domestic suppliers. In addition, Asia Pacific countries continue to develop their own aircraft programmes, such as COMAC in China, which will provide growth opportunities for multinational companies.

Modernisation of aerospace systems

Current aerospace technologies are approaching the end of their lifecycles. Aerospace companies are expected to increase investment in the modernisation of engine and flight control technologies in order to meet changing airline preferences and environmental regulations. Despite efforts being made, the modernisation process has proven to be quite slow, and supply disruptions will further add to the challenge.

Smart maintenance and materials

Changes in the aircraft maintenance, repair and operations (MRO) industry are forecast to accelerate, as airlines will require more efficient maintenance solutions. Aerospace companies are expected to increase their investment in new monitoring and smart maintenance technologies which help to reduce complexity, and save time and costs for airlines. Smart materials is another key focus area for aerospace technologies. New materials and manufacturing methods, such as 3D printing, will help to manufacture more complex components at a lower cost.

Introduction

Scope
Examining key trends shaping the aerospace industry
Key trends impacting the industry in 2022

Global overview

Industry continues recovery from the pandemic
Industry to continue post pandemic recovery
US and France remain the key players in the industry
Recovering demand from airlines supports profit growth
Expanding aircraft production supports exports recovery
Growing airline industry to support demand for aircraft imports in Asia
China and Europe have the fastest growing aerospace markets
Rising energy and metal prices increase supply chain risks for aerospace industry
Rising metal and energy prices forecast to peak in 2023

Leading companies

Airbus maintains its lead over Boeing
Number of companies continue to decline as smaller suppliers struggle
High entry barriers and rising costs to increase industry concentration

Global outlook

US, Europe and China to drive aerospace industry’s future growth
Industry continues to recover from the pandemic
Key future trends shaping the global industry

Country snapshots

US: Industry forecast to show stable growth
Recovering airline demand and rising military spending to drive industry growth
France: Industry forecast to fully recover in 2023
Military aircraft exports and recovering airline demand to benefit the industry
China: Industry’s growth forecast to see strong growth
Large domestic market and commercial aircraft programmes to drive industry growth
Germany: Industry forecast to see rapid growth
Recovering demand in the export markets to lift industry growth
UK: Export growth to benefit the industry
Recovering global demand for aircraft components to fuel industry growth
Russia: Industry faces prolonged decline
International sanctions and worsened economic outlook puts the industry into turmoil
Canada: Export growth to fuel industry’s expansion
Recovering demand for business jets in the export markets to drive growth
Japan: Industry forecast to show moderate growth by 2026
Demand for aircraft components and the space sector to support industry’s growth
Italy: Industry forecast to show slow yet steady growth
Military spending and space sector to drive industry growth
Spain: Industry forecast to continue post-pandemic recovery
Recovering demand in the export markets to support industry growth
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