Global Aerospace and Defense Industry 2018: Trends, Facts

In 2017 global aerospace and defense industry has shown progressive growth in the industry. Following that in 2018 it is expected that it will show up with strong growth of 4.1 percent. In 2017 the industry showed growth of 2.1 percent. As the Global GDP (Gross Domestic Product) is recovering itself, it have made stable commodity prices including the crude oil.

Also it has shown growth in passenger travel demand. In which three region, Asia-Pacific, the Middle East and Latin America, are going to bring growth in commercial flight. In 2017, backlog of commercial flight is remain at its all-time high of 14000 units that was current annual production of 9 and half year. This is going to be increased by 100 units in 2018.

2018 Forecast of Aerospace and Defense Industry:

• Global A&D industry revenue projected to grow 4.1 percent in 2018
• Commercial aircraft sector revenues expected to grow 4.8 percent as production levels are likely to be robust
• Defense sector revenues likely to record 3.6 percent growth as the US defense budget returns to growth after experiencing multi-year declines
• Commercial aircraft sector’s operating profits estimated to be up 18.5 percent, whereas, defense sector is expected to experience a 10.2 percent increase in operating profits

5 Trends Reshaping Aerospace and Defense Industry:

Citizen AI:
AI can possibly turn into a coworker for human in aerospace and defense industry. Not just that it can play a central role into the organization. This is the thinking of not just few but 83% of Aerospace and defense industry executives.

Extended Reality:
VR and AR, these are two best option when it comes to eliminating the distance between people, information and machine. 96% executives think that it can fill the gap between customer and employee.

Data Veracity:
With 80% of aerospace and defense firms increasingly using data to drive critical and automated decisions, it’s little surprise that 73% also believe that those same automated systems create new data risks including fake data, data manipulation and inherent bias.

Frictionless Business:
Not only do 64% of respondents say that the size of their ecosystem has at least doubled in the past two years, but 90% expect to be exchanging more data with these partners within two years than they do today.

IOT:
93 percent of aerospace and defense executives believe that the next generation of intelligent solutions are moving into physical environments.

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This release was published on openPR.