The aerospace industrys immediate prospects are favourable, with lower jet-fuel prices cutting costs and boosting airline profitability as international and domestic air travel continue to expand producing record passenger numbers in 2014 and air freight revives. New civilian aircraft have been ordered, both to expand capacity and to renew fleets with the latest fuel-efficient aircraft, and the worlds two major civilian jet suppliers Airbus and Boeing have vowed to step up deliveries further. There are even tentative signs that defence procurement reductions are diminishing sharply as geopolitical tensions increase, although significant new defence spending increases still look many years off.
