The Coronavirus’ Effect on the Aerospace, Aircraft, Satellites & Drones Industry

The Coronavirus pandemic vastly shifted travel habits of businesses and consumers alike. For airlines, passenger numbers plummeted all over the world. This was driven by a) health concerns, b) a reluctance to spend money during uncertain times, and c) government restrictions on cross-border travel. In nations around the world, governments stepped up to provide temporary financial support to airlines.

A number of airlines declared bankruptcy in the early months of 2020. Britain’s Flybe entered administration (a practice similar to bankruptcy) in March 2020, as did Trans States Airlines and Compass Airlines in the U.S. Virgin Australia entered voluntary administration in April 2020 while Columbia’s Avianca and Chile’s Latam Airlines filed for bankruptcy in May. Aeromexico filed in July. By 2021, leisure travelers had returned to airlines in significant numbers, but business travel continued to lag far behind pre-Coronavirus levels.

A wide variety of airline-related companies suffered major financial downturns, from systems manufacturers to airport operators and providers of such services as fueling and catering. The Coronavirus, with its weak economic environment, also led to the bankruptcy of leading satellite communications firms Intelsat and OneWeb.

Meanwhile, purchases via ecommerce boomed as a result of the Coronavirus, which may be a long-term benefit for the drones industry. Demand for safer, contactless delivery will likely spur the use of drones for package and food delivery.

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The Coronavirus’ Effect on the Aerospace, Aircraft, Satellites & Drones Industry, Business and Industry Trends Analysis

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