In the five years to 2015, the Global Military Aircraft and Aerospace Manufacturing industry suffered a setback as Western defense budgets began to shrink. Skyrocketing debt caused by the global recession forced countries such as the United States and United Kingdom to spend less on procurement of military aircraft, missiles and satellites. Moreover, with the war in Iraq completed and combat operations winding down in Afghanistan, the United States and allied nations could further cut spending on defense, with US federal funding for defense falling for most of the five-year period.
Companies in this industry manufacture complete military aircraft, missiles or space vehicles, along with associated parts and services. Industry operators also develop prototypes of aerospace products, convert aircraft (i.e. conduct major modifications to systems) and complete aircraft or propulsion system overhaul and rebuilding (i.e. periodically restores aircraft to original design specifications).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.