Post by andypspotter on Jul 18, 2018 21:55:38 GMT
The global aerospace industry in 2017 was worth $838 billion, with US industry accounting for 49% of the total, according to a new report from the Teal Group and Aerodynamic Advisory.
The proportion of the aerospace industry accounted for by US is growing due to rising orders for the Lockheed Martin F-35 Lightning II and Boeing 787 Dreamliner, the report says. French industry took an 8% share of the global industry, with Airbus and Dassault Aviation putting the nation close to the top of the table.
Chinese companies are steadily gaining ground, and were in third place with 6% of the total. The nation also had the largest aerospace trade deficit in the world.
“Efforts to replicate Western vertical supplier bases for indigenous development programs [in China] represent a very expensive and risky approach to industry development,” the report says, noting that overall, Chinese companies had very high levels of expenditure and employment, while generating very low levels of productivity, output and profit.
Boeing, Airbus and Lockheed Martin may grab the headlines, but the report shows that original equipment manufacturers and sub-tier manufacturers accounted for 54% of all global economic activity. The maintenance, repair, overhaul, and upgrade sector represented 27% of economic activity.
The aerospace industries of the top ten countries were worth $731 billion – 87% of the global industry. The 49% of the world aerospace total accounted for by the US was more than the next 25 countries combined.
The top 10 aerospace manufacturing countries in 2017 were: 1. US at $408 billion; 2. France at $69 billion; 3. China at $61.2 billion; 4. United Kingdom at $48.8 billion; 5. Germany at $46.2 billion; 6. Russia at $27.1 billion; 7. Canada at $24 billion; 8. Japan at $21 billion; 9. Spain at $14.4 billion, and 10. India at $11 billion.
The proportion of the aerospace industry accounted for by US is growing due to rising orders for the Lockheed Martin F-35 Lightning II and Boeing 787 Dreamliner, the report says. French industry took an 8% share of the global industry, with Airbus and Dassault Aviation putting the nation close to the top of the table.
Chinese companies are steadily gaining ground, and were in third place with 6% of the total. The nation also had the largest aerospace trade deficit in the world.
“Efforts to replicate Western vertical supplier bases for indigenous development programs [in China] represent a very expensive and risky approach to industry development,” the report says, noting that overall, Chinese companies had very high levels of expenditure and employment, while generating very low levels of productivity, output and profit.
Boeing, Airbus and Lockheed Martin may grab the headlines, but the report shows that original equipment manufacturers and sub-tier manufacturers accounted for 54% of all global economic activity. The maintenance, repair, overhaul, and upgrade sector represented 27% of economic activity.
The aerospace industries of the top ten countries were worth $731 billion – 87% of the global industry. The 49% of the world aerospace total accounted for by the US was more than the next 25 countries combined.
The top 10 aerospace manufacturing countries in 2017 were: 1. US at $408 billion; 2. France at $69 billion; 3. China at $61.2 billion; 4. United Kingdom at $48.8 billion; 5. Germany at $46.2 billion; 6. Russia at $27.1 billion; 7. Canada at $24 billion; 8. Japan at $21 billion; 9. Spain at $14.4 billion, and 10. India at $11 billion.