Aerospace industry is worth $838bn
July 17, 2018 -- The global aerospace industry in 2017 was worth $838 billion, with the U.S. industry accounting for 49% of the total, driven by rising orders for the Lockheed Martin F-35 Lightning II and Boeing 787 Dreamliner.
The joint analysis, conducted by the AeroDynamic Advisory and Teal Group Corp., includes rankings of countries by the size of their aerospace industries. The top five are the U.S., France, China, UK and Germany.
“We were surprised by the size of the Chinese aerospace sector,” said Kevin Michaels, Managing Director of AeroDynamic Advisory. “We knew China is growing rapidly but didn’t expect it to have the third-largest aerospace industry.”
The aerospace industry includes all in-country activities on the development, production, maintenance and support of aircraft and spacecraft, including maintenance, spare parts and materials.
Excluded are airline operations, satellite broadcasting services, ground and maritime vehicles, non-aero command, control, communications, computers, intelligence, surveillance and reconnaissance defence electronics, training services and ground support equipment.