Global aircrafts market growth outlook is positive with significant growth potential for passenger aircrafts drones. There is mounting pressure on aircraft manufacturing to reduce costs, enhance aircraft capabilities and safety features. At the same time, emerging market growth, low interest rate environment, urbanization, rising population, rising disposable income and increasing military tensions globally is driving the demand for aircrafts market.
The market for aircraft is somewhat concentrated with a few large players dominating the market. Major players in the market include Airbus SE, The Boeing Company, Lockheed Martin Corp., BAE Systems, Inc. and Textron, Inc.
The highest growth is also projected to come from helicopters. Major factors included economic growth, increase in defense expenditures in developing countries and increasing incidences of terrorism and violence in the Middle East and Africa.
North America is the largest market for the aircraft manufacturing market. It was followed by Asia-Pacific and Western Europe. Going forward, Eastern Europe is expected to witness the fastest growth in the aircraft manufacturing market, followed by Asia-Pacific. The USA is the largest market in terms of value and in the aircraft manufacturing market. China and Russia are forecasted to have the fastest growth.
Video: Building a Boeing 747
The market is challenged by restraints such as decline in high investment costs, investments in cyber wars and cyber regulations.
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