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Report
United States Aerospace Market Report and Forecast 2024-2032
Market Report I 2023-11-22 I 135 Pages I EMR Inc.
United States Aerospace Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the United States aerospace market is projected to grow at a CAGR of 2.40% between 2024 and 2032. Aided by technological advancements, increased defence spending, and the revival of commercial air travel, the market is expected to grow significantly by 2032.
Aerospace encompasses the design, development, and production of aircraft, spacecraft, satellites, and missiles. The industry plays a pivotal role in bolstering the nation's defence capabilities, ensuring efficient commercial air travel, and driving the exploration of outer space. The U.S. aerospace sector holds a significant global position, given its vast production output, technological leadership, and strategic defence role.
One of the major drivers for the United States aerospace market growth is the country's substantial investment in defence. With evolving geopolitical dynamics and emerging threats, the U.S. Department of Defense has continuously expanded its budget allocation for aerospace technologies, ensuring state-of-the-art fighter jets, drones, and missile systems. The procurement of advanced aerospace equipment ensures that the nation remains at the forefront of global defence capabilities.
As per the United States aerospace market analysis, the resurgence of commercial air travel, following a brief downturn due to global health crises, has significantly boosted the aerospace industry. As international borders reopen and the pent-up demand for travel is actualised, airlines are updating and expanding their fleets. This revitalisation of the commercial segment, coupled with the rise of new entrants in the aviation sector, ensures consistent demand for aircraft, parts, and maintenance services.
Space exploration and satellite deployment have also emerged as robust avenues that propel the United States aerospace market demand. The U.S., with its mix of legacy space institutions and innovative private players like SpaceX and Blue Origin, is spearheading missions to the Moon, Mars, and beyond. The burgeoning commercial space industry, focusing on satellite broadband, space tourism, and extraterrestrial mining, presents a plethora of opportunities for the U.S. aerospace market.
Moreover, the constant drive for innovation in aerospace technology, from the development of more fuel-efficient engines to the integration of AI and IoT in aircraft systems, are some of the crucial United States aerospace market trends that ensure the sector's steady advancement. Research into Urban Air Mobility (UAM) and electric aircraft showcases the industry's commitment to addressing environmental concerns and urban transportation challenges.
Market Segmentation
The market can be divided based on type, operation, body type, and aircraft type.
Market Breakup by Type
- Structures
o Airframe
o Engine and Engine Systems
o Cabin Interiors
o Landing Gear
- Avionics and Control Systems
o Communication System
o Navigation System
o Flight Control System
o Health Monitoring System
- Electrical Systems
- Environmental Control Systems
- Fuel and Fuel Systems
- MRO
Market Breakup by Operation
- Autonomous Aircraft
- Manual
Market Breakup by Body Type
- Wide Body
- Narrow Body
Market Breakup by Aircraft Type
- Commercial Aviation
- General Aviation
- Military Aviation
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States aerospace market. Some of the major players explored in the report by Expert Market Research are as follows:
- Lockheed Martin Corporation
- Raytheon Technologies Corporation
- Boeing Company
- General Dynamics Corporation
- Northrop Grumman Corporation
- GE Aviation
- L3Harris Technologies
- Leidos, Inc.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 United States Aerospace Market Analysis
8.1 Key Industry Highlights
8.2 United States Aerospace Historical Market (2018-2023)
8.3 United States Aerospace Market Forecast (2024-2032)
8.4 United States Aerospace Market by Type
8.4.1 Structures
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.1.4 Breakup by Type
8.4.1.4.1 Airframe
8.4.1.4.2 Engine and Engine Systems
8.4.1.4.3 Cabin Interiors
8.4.1.4.4 Landing Gear
8.4.2 Avionics and Control Systems
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.2.4 Breakup by Type
8.4.2.4.1 Communication System
8.4.2.4.2 Navigation System
8.4.2.4.3 Flight Control System
8.4.2.4.4 Health Monitoring System
8.4.3 Electrical Systems
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Environmental Control Systems
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Fuel and Fuel Systems
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.4.6 MRO
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2023)
8.4.6.3 Forecast Trend (2024-2032)
8.5 United States Aerospace Market by Operation
8.5.1 Autonomous Aircraft
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Manual
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.6 United States Aerospace Market by Body Type
8.6.1 Wide Body
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Narrow Body
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 United States Aerospace Market by Aircraft Type
8.7.1 Commercial Aviation
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 General Aviation
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Military Aviation
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Others
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter's Five Forces Analysis
9.2.1 Supplier's Power
9.2.2 Buyer's Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 Lockheed Martin Corporation
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.1.4 Certifications
10.2.2 Raytheon Technologies Corporation
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.2.4 Certifications
10.2.3 Boeing Company
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.3.4 Certifications
10.2.4 General Dynamics Corporation
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.4.4 Certifications
10.2.5 Northrop Grumman Corporation
10.2.5.1 Company Overview
10.2.5.2 Product Portfolio
10.2.5.3 Demographic Reach and Achievements
10.2.5.4 Certifications
10.2.6 GE Aviation
10.2.6.1 Company Overview
10.2.6.2 Product Portfolio
10.2.6.3 Demographic Reach and Achievements
10.2.6.4 Certifications
10.2.7 L3Harris Technologies
10.2.7.1 Company Overview
10.2.7.2 Product Portfolio
10.2.7.3 Demographic Reach and Achievements
10.2.7.4 Certifications
10.2.8 Leidos, Inc.
10.2.8.1 Company Overview
10.2.8.2 Product Portfolio
10.2.8.3 Demographic Reach and Achievements
10.2.8.4 Certifications
10.2.9 Others
11 Key Trends and Developments in the Market
List of Key Figures and Tables
1. United States Aerospace Market: Key Industry Highlights, 2018 and 2032
2. United States Aerospace Historical Market: Breakup by Type (USD Million), 2018-2023
3. United States Aerospace Market Forecast: Breakup by Type (USD Million), 2024-2032
4. United States Aerospace Historical Market: Breakup by Operation (USD Million), 2018-2023
5. United States Aerospace Market Forecast: Breakup by Operation (USD Million), 2024-2032
6. United States Aerospace Historical Market: Breakup by Body Type (USD Million), 2018-2023
7. United States Aerospace Market Forecast: Breakup by Body Type (USD Million), 2024-2032
8. United States Aerospace Historical Market: Breakup by Aircraft Type (USD Million), 2018-2023
9. United States Aerospace Market Forecast: Breakup by Aircraft Type (USD Million), 2024-2032
10. United States Aerospace Market Structure
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