OEMs under pressure from the restructuring of their customers and subcontractors have no choice but to make fundamental changes. Strategies are adapting, to claim the status of aircraft manufacturers’ partners and give themselves an international dimension. Industrial organizations are reviewed. But the profession itself will not escape fundamental changes either.
The aerospace market is growing fast, very fast!
The global aerospace market activity is doubling every fifteen years and this momentum is expected to continue for the coming years, with an expected 4.4% increase in global air traffic, in terms of passenger-kilometers transported, during the period 2017-2036. This can offer many opportunities for Small and Medium-Sized Enterprises (SME) around Europe. It’s actually all about doubling the world fleet. According to an HSBC article, the size of the global fleet should be doubled between 2017 and 2036 due to the growth in global air traffic. Suddenly, the two major global aircraft manufacturers, the European Airbus and the US Boeing expect a significant increase in production of aircraft. In its Global Market Forecast 2017-2036 report, Airbus expects to commercialize an additional 35,000 aircraft by 2036, while Boeing plans to produce 41,000 aircraft over the same period, according to forecasts in the Current Market Outlook 2017-2036. As well as manufacturers, sales representative in Europe for aerospace, like absoluzconsulting.com/, are experiencing a considerable growth in activity!
Europe is high up there in terms of aeronautics turnover!
According to figures from ASD Europe (Aerospace and Defense Industries Association of Europe), an association representing European companies in the sector, the turnover of the European aeronautics and space industry totaled 222 billion euros in 2015, divided between the civilian (54%) and the military (46%). R & D expenses amounted to 20 billion euros. It is the United States which reaches the top step of the podium of the global aerospace industry with revenues in 2015 of 227 billion dollars. They are followed by the European Union (180 billion dollars). Behind these two heavyweights are Russia ($ 26.7 billion in revenue in 2015), Canada ($ 22.1 billion), Japan ($ 17.4 billion) and Brazil ($ 6.9 billion).
Now is the time to benefit from the European aeronautics opportunities!
The challenges facing the aerospace industry for the next decade are considerable: investments in research, environment, competition, and air traffic regulation. The solutions to these problems are European, which is why it is essential for businesses wanting to conquer the aerospace sector to show how much it is important for them to continue to support this industry. In order to highlight European know-how is unique; this industry totals nearly 500,000 highly qualified jobs in Europe for a turnover exceeding 100 billion euros. Three-quarters of production is exported, making this sector one of the largest contributors to Europe’s balance of payments. So, we think now is the time to start thinking about benefiting from the European aeronautics business opportunities!