Introduction to the Aerospace, Aircraft, Satellites & Drones Industry

The aerospace industry plays a vital role in such sectors as global trade and commerce, communications, transportation, and defense. More than just airlines and aircraft manufacturing, the aerospace industry includes original equipment manufacturing (OEM), avionics (electronics), electronics, rockets, space vehicles, satellites and drones. The complex requirements for achieving flight also make the aerospace industry a key contributor to technological advancements in computing, materials, and manufacturing. Historically the stuff of fantasy, the development of the commercial space and drone industry of today adds a new dimension to the impact of aerospace in everyday life. Aerospace plays a vital role in defense industries and military applications; however, our coverage is largely limited to non-defense applications.

At Plunkett Research, we estimate the global aerospace market at $1.5 trillion for 2024, on a broad basis. The Satellite Industry Association (SIA) places the global satellite sector at $285.0 billion for 2023. About one-half of satellite revenues are for services, such as satellite support of TV, radio and broadband transmission.

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Introduction to the Aerospace, Aircraft, Satellites & Drones Industry, Business and Industry Trends Analysis

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