The global aerospace and defence market is estimated to be valued at US$ 1600 billion in the year 2025, growing at a CAGR of 3.5% in the period 2019 to 2025.

Growth of the market is driven by factors such as the boom in commercial aircrafts segment, the surge in global airline traffic, and the rise in military expenditure.

Despite Boeing’s really bad 2019, there are reasons to believe aerospace in general will improve this year. Easing trade tensions between the U.S. and China, progress toward resolving Boeing’s 737 MAX crisis, increased defense spending, a budding commercial space sector, and Airbus’ robust sales and production portend well for 2020.

Today, aviation as an industry contributes a relatively small percentage of global carbon emissions, thanks in large part to 50 years of efforts by aerospace and aviation to increase aircraft energy efficiency. Since the 1960s, aerospace manufacturers have pushed the envelope to reduce aircrafts’ fuel consumption, and those efforts continue today with unprecedented turnover to modernize airline fleets, as well as add tools and tactics to optimize flying procedures and routes to minimize fuel burn. 

Amid continuing environmental pressures, the industry has also been investigating biofuels and other non-fossil fuel alternatives.