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    Aerospace Products & Parts Manufacturing Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 4/26/2021
    SIC Codes: 3721, 3724, 3728, 3761, 3764, 3769
    NAICS Codes: 3364
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Aerospace Products & Parts Manufacturing Industry Profile

    Companies in this industry develop and manufacture aircraft, aircraft components, and missiles and space vehicles. Major companies include US-based Boeing, General Dynamics, Lockheed Martin, Northrop Grumman, Raytheon Technologies, and SpaceX, as well as Airbus (the Netherlands), BAE Systems (the UK), Bombardier (Canada), and Leonardo (Italy). Many companies work primarily as subcontractors to the largest manufacturers.

    Top countries for aerospace products and parts manufacturing include the US, France, Germany, the UK, and Canada, according to International Trade Centre. North America is the largest market for aerospace products, followed by Asia/Pacific and Western Europe, but emerging economies in the Asia/Pacific region are expected to provide the greatest growth opportunities. Global aerospace and defense revenue is forecast to rise 3.5% yearly from 2019 to 2025 and is expected to reach $1.6 trillion at the end of the forecast period, as per PR Newswire. Aerospace and defense revenue is expected to be driven by increasing commercial aircraft production and geopolitical tension, which leads to higher defense spending.

    The US aerospace products and parts manufacturing industry includes about 1,800 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $250 billion.

    COMPETITIVE LANDSCAPE

    Demand is driven by military budgets and the overall economic climate, which affects airline traffic and demand for new commercial aircraft. The profitability of individual companies depends on technical expertise and the ability to accurately price long-term contracts. Large companies enjoy ...

     
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