Aerospace & Defense
Rising demand for passenger travel to bolster market growth of this industry
The global industry of aerospace and defense (A&D) recovered and experienced a sound year as the demand for passenger travel bolstered and worldwide military expenditure continue to increase. The aerospace and defense industry is forecasted to continue with its growth trajectory in the years to come, led by increasing production of commercial aircraft and spending on strong defense.
The global market for aerospace and defense is driven by some factors such as, increasing demand for aircraft production, driven by ever-increasing demand for passenger travel, rising military spend due to continued geopolitical risks, constant trade tensions, comprising increased costs and its impact, and supply chain disruption, suppliers’ push to consolidate for cost effectiveness and scale.
Furthermore, emphasis on digital transformation and innovation, and various geopolitical situations is further triggering the disru
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