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United States Aerospace Market Share, Size, Trend, Forecast: By Type: Structures, Avionics and Control Systems, Electrical Systems, Environmental Control Systems, Fuel and Fuel Systems, MRO; By Operation: Autonomous Aircraft, Manual; By Body Type; By Aircraft Type; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
United States Aerospace Market Outlook
The United States aerospace market is expected to grow at a CAGR of 2.40% between 2024 and 2032. Key market drivers are increasing standard of living, affordable prices of tickets, growing frequency of flights, and improved route availability.
Key Trends in the Market
Aerospace refers to the open space above the ground that comprises of the atmosphere of the earth and the space beyond the earth’s atmosphere. It is a high-tech industry that designs, assembles, and manufactures vehicles that can move through space or air. Some of the common aerospace products include airframe structures, aircraft engines, gear, aircraft doors, landing gears, aircraft gear box, and flight control systems.
- Demand for aircrafts flights is increasing in the United States because of the rise in number of passengers. Rising incomes are changing the travel preferences of people, increasing the demand for air travel.
- With healthy competition in the United States aerospace market, with multiple airlines and flights available, costs for tickets are low while quality is high as companies seek ways to attract passengers.
- Increase in flights and passengers has surged the demand for maintenance, repair and operations of airplanes, to consistently upgrade older facilities.
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Market Analysis
Based on type, the market can be divided into structures, avionics and control systems, electrical systems, environmental control systems, fuel and fuel systems, and MRO. The structures segment is subdivided into airframe, engine and engine systems, cabin interiors, and landing gear, while avionics and control systems are subdivided into communication systems, navigation systems, flight control systems, and health monitoring systems.
On the basis of operation, the market is bifurcated into autonomous aircraft and manual. Based on body type, the market is categorised into wide body and narrow body. By aircraft type, the market is segmented into commercial aviation, general aviation, and military aviation, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States aerospace market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Lockheed Martin Corporation
- Raytheon Technologies Corporation
- Boeing Company
- General Dynamics Corporation
- Northrop Grumman Corporation
- GE Aviation
- L3Harris Technologies
- Leidos, Inc.
- Others
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Market Share by Operation
The manual operations segment has accounted for the largest share in the market, with a vast base of pilots that are experienced in flying aircrafts, and expert flying schools certifying new pilots. In manual operations, pilots carry out functions manually. Due to the relatively limited capabilities of autonomous aircrafts in the past, manual operations has been the standard in the United States aerospace market.
However, with advancements in technology, the autonomous aircraft segment is expected to pick up pace in the coming years. Autonomous aircrafts usually require a single pilot or no pilot at all but are generally used for short range travel or freights. They follow instructions issued either from the pilot or the flight director computer.
Market Share by Body Type
Wide body segment in the United States aerospace market has the largest share as they are the preferred choice for airlines and freight shippers. Wide body aircrafts offer more space, that can be used to store additional cargo, add extra passenger seats, and increase the legroom available. In comparison, narrow body aircrafts have less width, reducing the storage and seating capacity. In busy routes wide body aircrafts are preferred, however, in routes with less demand, narrow body aircrafts prove more economical due to their lower purchasing and flying costs.
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Competitive Landscape
Lockheed Martin Corporation is an arms, information security, aerospace, technology, and defence corporation that was established in 1995. It is headquartered in Maryland, United States. It is known globally for researching, designing, and manufacturing advanced technology products.
Raytheon Technologies Corporation founded in 2020 is based out of Virginia, United States. It is an American aerospace and defence company that manufactures air defence systems, drones, aircraft engines, aerostructures, guided missiles, avionics, satellites, and cyber security.
Boeing Company was founded in 1916 and has its headquarter in Virginia, United States. It is a multinational company that deals with the manufacturing and sales of rockets, airplanes, satellites, missiles, rotorcrafts, and telecommunication equipment.
Other market players include General Dynamics Corporation, Northrop Grumman Corporation, GE Aviation, L3Harris Technologies, and Leidos, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Operation |
|
| Breakup by Body Type |
|
| Breakup by Aircraft Type |
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| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 United States Aerospace Market Analysis
8.1 Key Industry Highlights
8.2 United States Aerospace Historical Market (2018-2023)
8.3 United States Aerospace Market Forecast (2024-2032)
8.4 United States Aerospace Market by Type
8.4.1 Structures
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.1.4 Breakup by Type
8.4.1.4.1 Airframe
8.4.1.4.2 Engine and Engine Systems
8.4.1.4.3 Cabin Interiors
8.4.1.4.4 Landing Gear
8.4.2 Avionics and Control Systems
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.2.4 Breakup by Type
8.4.2.4.1 Communication System
8.4.2.4.2 Navigation System
8.4.2.4.3 Flight Control System
8.4.2.4.4 Health Monitoring System
8.4.3 Electrical Systems
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Environmental Control Systems
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Fuel and Fuel Systems
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.4.6 MRO
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2023)
8.4.6.3 Forecast Trend (2024-2032)
8.5 United States Aerospace Market by Operation
8.5.1 Autonomous Aircraft
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Manual
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.6 United States Aerospace Market by Body Type
8.6.1 Wide Body
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Narrow Body
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 United States Aerospace Market by Aircraft Type
8.7.1 Commercial Aviation
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 General Aviation
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Military Aviation
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Others
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 Lockheed Martin Corporation
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.1.4 Certifications
10.2.2 Raytheon Technologies Corporation
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.2.4 Certifications
10.2.3 Boeing Company
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.3.4 Certifications
10.2.4 General Dynamics Corporation
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.4.4 Certifications
10.2.5 Northrop Grumman Corporation
10.2.5.1 Company Overview
10.2.5.2 Product Portfolio
10.2.5.3 Demographic Reach and Achievements
10.2.5.4 Certifications
10.2.6 GE Aviation
10.2.6.1 Company Overview
10.2.6.2 Product Portfolio
10.2.6.3 Demographic Reach and Achievements
10.2.6.4 Certifications
10.2.7 L3Harris Technologies
10.2.7.1 Company Overview
10.2.7.2 Product Portfolio
10.2.7.3 Demographic Reach and Achievements
10.2.7.4 Certifications
10.2.8 Leidos, Inc.
10.2.8.1 Company Overview
10.2.8.2 Product Portfolio
10.2.8.3 Demographic Reach and Achievements
10.2.8.4 Certifications
10.2.9 Others
11 Key Trends and Developments in the Market
List of Key Figures and Tables
1. United States Aerospace Market: Key Industry Highlights, 2018 and 2032
2. United States Aerospace Historical Market: Breakup by Type (USD Million), 2018-2023
3. United States Aerospace Market Forecast: Breakup by Type (USD Million), 2024-2032
4. United States Aerospace Historical Market: Breakup by Operation (USD Million), 2018-2023
5. United States Aerospace Market Forecast: Breakup by Operation (USD Million), 2024-2032
6. United States Aerospace Historical Market: Breakup by Body Type (USD Million), 2018-2023
7. United States Aerospace Market Forecast: Breakup by Body Type (USD Million), 2024-2032
8. United States Aerospace Historical Market: Breakup by Aircraft Type (USD Million), 2018-2023
9. United States Aerospace Market Forecast: Breakup by Aircraft Type (USD Million), 2024-2032
10. United States Aerospace Market Structure
Key Questions Answered in the Report
The aerospace market in the United States is expected to grow at a CAGR of 2.40% between 2024 and 2032.
The major market drivers for the aerospace market in the United States are improving standards of living, affordable prices of tickets, and increased frequency of flights and route availability.
The key trends of the market are rise in number of passengers, demand for repair and maintenance, and new developments and advancements in technology.
Key market players include Lockheed Martin Corporation, Raytheon Technologies Corporation, Boeing Company, General Dynamics Corporation, Northrop Grumman Corporation, GE Aviation, L3Harris Technologies, and Leidos, Inc., among others.
Aerospace is the open space above the ground, comprising of the atmosphere of the earth and the space beyond the earth’s atmosphere.
It is a high-tech industry that designs, assembles, and manufactures vehicles that can move through space or air.
The United States aerospace market is segmented based on type, operation, aircraft type and body type.
The various aircraft types in the market are commercial aviation, general aviation, and military aviation, among others.
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