Commercial aviation is an extremely diversified field covering players in the field of research, design, manufacturing and operating of aircraft. The industry finds use not only in commercial and industrial applications, but also military applications. The aviation industry has expanded at rapid speed which is driven by disruptive technological advancements, amongst other influecning factors. Despite an economic downturn at the global market level, passenger traffic has increased manifold over the course of these years. Further, with the expansion of emerging-market economies, organisations are growing more mindful about efficiency in transportation of goods. Air cargo traffic is therefore expected to grow. Notably, newer aircraft are replacing older fleet, prompting a strong comeback for aviation. The aerospace and defence sectors make for a significant combination. With respect to the defence sector, growing economies like China, India, Brazil and Turkey are allocating larger budgets for expenditures versus countries like USA that have witnessed defence budget cuts, on account of the global financial crisis and protracted war. These tectonic shifts in economies’ outlook towards defence has undoubtedly affected the defence market as well as the defence industry. Nonetheless, there is tremendous scope in sub-sectors such as cyber security, unmanned systems, communication technology, and licensing and technology transfers.

According to our experts at Global Market Studies, it is extremely important for businesses operating in the current environment to equip themselves with the changing times and to meet unexpected demands from newer markets. Whilst the defence sector opens immense opportunities for the application of latest advancement and introduction of innovative products and services, research and development play a pivotal role in the Aerospace Industry. A thorough understanding of the market capability and intelligence is key, which our reports are well-equipped to provide. For further information on our offering in the Aerospace and Defence sector, contact us.