Overview of the Top Aerospace Companies
The aerospace sector plays a critical role in the global economy by supporting and facilitating passenger transport, trade, security and defense, logistics, and more, worldwide. While the top 5 largest aerospace companies are spearheaded by household names like Boeing and Airbus, the others that are dominating the industry in notable ways as well. With the advancements of aerospace technology and the surge in global airline traffic, there has been a major boost in the global demand of aerospace products over the last decade. As leading aerospace manufacturing companies focus on developing new and innovative products to increase their competitiveness, the aerospace industry is only expected to grow further in the near future.
Since the aerospace industry encompasses manufacturing, maintenance, and support of commercial and military aircraft, vendors in this industry focus their attention on engines, various systems, aerostructures, sub-tier suppliers, and more. Geographically, the US serves as the largest aerospace market in the world, accounting for nearly 49% of the market share globally and is followed by France and China, with a 8.2% and 7.3% market share respectively. However, China is proving a fast-growing threat in the global market due to the boom in aviation in Asia in the last few years. However, with aircraft demands growing, the US and China are expected to equally benefit from these trends. To better understand how aerospace companies are transforming the future of the aerospace industry, we will cover the top 5 largest aerospace companies in existence today.
Boeing
Serving as a US aircraft manufacturing giant, Boeing is currently the largest aerospace products manufacturer in the world in terms of revenue. Based out of Chicago, Illinois, the company’s key products include commercial and military aircraft, rotorcraft, satellites, telecommunications equipment, and missiles. In 2019, Boeing delivered 345 airplanes worldwide, with its most famous models being the 737, 747, 767, 777, and 787. However, after 2018, the production of Boeing’s 737 Max jet was halted due to being involved in two crashes.
Airbus
Airbus is a European multinational aerospace corporation with headquarters in Blagnac, France. The company is made up of three main divisions: commercial aircraft, defense and space, and helicopters. Presently, the company serves as the largest plane manufacturer by production volume. In fact, Airbus delivered 863 planes worldwide in 2019. With more than 134,000 employees around the world, Airbus offers a wide-range of passenger airliners, such as the A380, A350, A330, A220, and many others. More than that, Airbus boasts recognition for being a major provider of military aircraft.
United Technology
United Technologies Corporation is a top American multi-industry company with major sectors in aerospace products and services, including jet engines. Headquartered in Hartford, Connecticut, United Technologies operates through four main subsidiaries, those of which include Carrier, Collins Aerospace, Otis Elevator Co., and Pratt & Whitney. Pratt & Whitney is one of the world’s largest manufacturers and suppliers of jet engines for commercial and military aircraft, as well as small commuter and business aircraft.
Lockheed Martin
Lockheed Martin Corp. is one of the world’s largest security and aerospace companies, employing around 110,000 people worldwide. Headquartered in Bethesda, Marland, Lockheed Martin is engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services. Its main areas of business include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
GE Aviation
GE Aviation is an operating unit of GE, and it is recognized for being a major supplier of jet and turboprop engines, as well as components and integrated systems for commercial, military, business, and general aviation aircraft. Some of its key products include GE9X engines which are utilized in many passenger aircraft, such as the Boeing 777 and Boeing 747. Furthermore, GE Aviation also provides the Common Core System (CCS), the Enhanced Airborne Flight Recorder (EAFR), the Electrical Load Management System (ELMS), and other components for aerospace industries around the world.
Conclusion
ASAP Aerospace Hub is a premier distributor of top-quality aircraft parts, all of which have been sourced from leading global manufacturers like Boeing, Airbus, United Technologies, and various others. Get started today with a competitive quote on any desired items and see how ASAP Aerospace Hub can serve as your strategic sourcing partner. For additional questions, call or email us at any time; we are available 24/7x365!
- charles price
- Posted on June 27, 2022 aviation
Share
