The aerospace and defense (A&D) industry comprises both civil and military aerospace and defense procurements. Aerospace and defense industry is engaged in manufacturing & development of commercial aircrafts, spacecrafts and various types of military aircrafts and rockets for government and private companies.
Global aerospace and defense industry is anticipated to return to growth in 2016 after witnessing declining revenue for three consecutive years, majorly due to weakness in defense subsector revenue resulting from reduction in global military expenditure. In 2018 growth in A&D sector would be driven by increasing defense budget across the globe and growing security threats from terrorism. In addition, commercial aerospace is also poised to grow on the back of rising passenger demand and accelerated equipment replacement cycle.
Aerospace & Defense market is highly matured in Europe and the US where the companies are majorly focusing on cost reduction. Top companies operating in this industry are The Boeing Company, Airbus Group, Lockheed Martin, United Technologies Corporation (UTC), General Dynamics Corporation, BAE Systems, Northrop Grumman, Raytheon Company, Safran Group, and Rolls-Royce Holdings. These companies are revamping their supply chain in order to reduce their working capital requirement and to drive future growth. These players are even entering new markets through joint ventures and acquisitions to tap unexplored geographies.
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