GITNUX MARKETDATA REPORT 2024

The Most Surprising Aerospace And Defense Industry Statistics in 2024

With sources from: grandviewresearch.com, aia-aerospace.org, statista.com, .deloitte.com and many more

In this post, we explore key statistics shaping the aerospace and defense industry, providing a comprehensive overview of its immense global impact. From the rapid advancements in electric propulsion systems to the formidable budgets and market shares of major players, the industry’s landscape is dynamic and multifaceted. Join us as we delve into the data driving innovation, employment, and economic contributions in this vital sector.

Statistic 1

"By 2025, electric propulsion systems are expected to make significant inroads in smaller commercial aircraft."

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Statistic 2

"The U.S. defense budget was $732 billion in 2019, making it the largest in the world."

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Statistic 3

"In 2020, the aerospace and defense industry in the U.S. supported around 2.18 million jobs."

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Statistic 4

"Airbus had a market share of approximately 62% of the global commercial aircraft market in 2020."

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Statistic 5

"The Asia-Pacific region is expected to be the fastest-growing market for aerospace and defense over the next decade."

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Statistic 6

"The defense sector accounted for nearly 57% of the U.S. aerospace industry revenue in 2019."

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Statistic 7

"The European defense industry employs over 500,000 people and supports an additional 1.2 million indirect jobs."

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Statistic 8

"In 2019, the U.S. exported approximately $143 billion worth of aerospace products."

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Statistic 9

"The UK aerospace sector generated £35 billion in 2019."

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Statistic 10

"Commercial aerospace sales are expected to recover and grow at a CAGR of 7.7% from 2021 to 2027."

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Statistic 11

"The global aerospace and defense industry market was valued at approximately $685.6 billion in 2020."

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Statistic 12

"The global avionics market is expected to reach $92 billion by 2027, growing at a CAGR of 6.5%."

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Statistic 13

"Lockheed Martin topped global defense revenues with $56.6 billion in sales in 2019."

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Statistic 14

"The aerospace and defense industry witnessed a 42% decline in commercial aircraft deliveries in 2020 due to COVID-19."

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Statistic 15

"The global aerospace and defense manufacturing market size is estimated to grow at a CAGR of 4.1% from 2021 to 2028."

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Statistic 16

"Boeing and Airbus are the two largest commercial aircraft manufacturers worldwide."

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Statistic 17

"The U.S. aerospace and defense industry contributed $374 billion in economic output in 2018."

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Statistic 18

"The aerospace and defense MRO (maintenance, repair, and operations) market was valued at $71.5 billion in 2021."

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Statistic 19

"The U.S. military aircraft fleet is the largest in the world, consisting of over 13,000 aircraft."

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Statistic 20

"The space segment of the aerospace and defense industry was valued at over $350 billion globally in 2020."

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Interpretation

The aerospace and defense industry is a dynamic and multifaceted sector with significant global impact. With the rise of electric propulsion systems in commercial aircraft, the industry is poised for technological advancements and environmental sustainability. The U.S. emerges as a dominant player with the largest defense budget, substantial job creation, and high export values. While facing challenges such as the decline in commercial aircraft deliveries due to the pandemic, the industry is projected to rebound and grow steadily in the coming years, driven by expanding markets in the Asia-Pacific region and continuous innovation in avionics. Boeing, Airbus, and Lockheed Martin stand out as key players, contributing to the industry's economic output and technological advancement. The future looks promising for the aerospace and defense industry, as it navigates through market shifts and embraces new opportunities for growth and development.

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