The aircraft and components manufacturing industry includes establishments manufacturing aircraft, aircraft engine and engine parts and other aircraft parts and auxiliary equipment.
The global aircraft and components manufacturing market is valued at $838 billion in 2017 due to the expected increase in economic activity and increasing demand for air travel, particularly in developing countries. Technological advancements such as additive manufacturing, machine learning and analytics, smart automation and block chain are also expected to drive the market in the forecast period.
In the report, the global aircrafts and components manufacturing market is divided into two segments: aircraft manufacturing and aircraft parts manufacturing, repair & maintenance. Aircraft manufacturing occupies the major portion, accounting for, more than 65% of the market share, whereas aircraft parts manufacturing, repair and maintenance segment occupy the remaining share of the market.
The USA was the largest country in the aircraft and components manufacturing market in 2017, accounting for more than 35% of the market share. This was due to a large customer base of airlines which procure aircrafts for business, personal and leisure travel in the country.
The aircraft and components manufacturing market is fragmented with a number of large and small organizations. The top five competitors in the market made up to 24% of the total market share in 2017. Boeing was the largest competitor of the market, followed by Airbus and United Technologies. Boeing was founded in 1916 and is headquartered in Chicago, USA. The company is involved in designing, developing, manufacturing, selling, and servicing of commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services. Boeing operates in over 65 countries worldwide, and also offers performance-based logistics and training services.
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