The Business Research Company’s latest report Aerospace & Defense Global Market Report 2020 covers Aerospace & Defense market drivers, Aerospace & Defense market trends, Aerospace & Defense market segments, Aerospace & Defense market growth rate, Aerospace & Defense market major players, and Aerospace & Defense market size. The report provides in-depth analysis of the impact of COVID-19 on the Aerospace & Defense industry, along with revised market numbers due to the effects of the coronavirus.
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The global aerospace & defense market is expected to decline from $770.4 billion in 2019 to $704.3 billion in 2020 at a compound annual growth rate (CAGR) of -8.6%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 4% from 2021 and reach $790.1 billion in 2023.
The global aerospace
and defense market is segmented by type into aerospace, defense, by operation
into autonomous, manual. Subsegments covered are commercial aircraft
manufacturing, aircraft maintenance, repair and overhauling services, aerospace
support and auxiliary equipment manufacturing, air based defense equipment
manufacturing, sea based defense equipment manufacturing, land based defense
equipment manufacturing, defense equipment maintenance, repair and overhauling
services, defense support and auxiliary equipment manufacturing.
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