INDUSTRY REPORT
“ Growing demand for green and fuelefficient aircraft mean that airlines and manufacturers are prioritising sustainability.”
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INDUSTRY REPORT
BEYOND THE HORIZON
We present selected analysis on prospects, challenges and opportunities in the global aerospace sector for manufacturers.
The aerospace market is a global industry encompassing the design, production and maintenance of aircraft, spacecraft and related systems. It includes commercial, business / general aviation and military sectors, as well as the space exploration field. Key players include aerospace manufacturers, defence contractors and space agencies.
Demand for air transport continues to increase as the industry addresses environmental concerns through efficient aircraft design, as well as sustainable aviation fuels and materials. The market is characterised by continuous innovation.
According to analyst, Business Research Insights( BRI), the global aerospace market size was valued at approximately US $ 356.11 billion in 2024 and is expected to reach US $ 664 billion by 2033, growing at a compound annual growth rate( CAGR) of about 7.18 % from 2025 to 2033. Analyst Precedence Research valued the global aerospace market size at an expected US $ 373.61 billion in 2024, anticipating it to reach around US $ 791.78 billion by 2034( expanding at a CAGR of 7.8 % over the forecast period 2024 to 2034).
However, U. S. President Trump’ s tariffs have created uncertainty in global aerospace markets, disrupting global supply chains and increasing production costs for some manufacturers. They have particularly affected manufacturers, such as Boeing and Airbus, who rely on international supply chains for aircraft components. The tariffs have also spurred some European nations to re-assess their reliance on U. S. defence and aerospace technology.
Trends and developments
“ The Russia-Ukraine war has significantly impacted aerospace market growth, inflicting disruptions in supply chains especially around the production of critical materials such as titanium,” commented analyst, BRI.“ It has also caused rising costs and delays for aircraft
34 | ismr. net | ISMR May 2025