20 July 2018

Details of Aerospace Industry in U.S

Details of Aerospace Industry in U.S

The aerospace industry in most of the countries is a cooperation of public and private industries. For instance, NASA in the United States, ESA in Europe, the Canadian Space Agency in Canada, Indian Space Research Organisation i.e. ISRO in India, JAXA in Japan, RKA in Russia, China National Space Administration in China, SUPARCO in Pakistan, Iranian Space Agency in Iran, and Korea Aerospace Research Institute i.e. KARI in South Korea. Some known companies involved in space programs include Boeing, EADS, Lockheed Martin, MacDonald Dettwiler and Northrop Grumman. These companies are also involved in other areas of aerospace such as the construction of aircraft.

As per the reports given by Onlinedemand.com , the aerospace industry is categorized into three broad segments which include defence, commercial, and general aviation. The report also says that the U.S. defence budget for 2012 is more than $700 billion, which is around seven times what China spends on defence and 10 times the Russian defence budget, due to which the Department of Defence i.e. DOD budget will be impacted significantly in the coming years. Because of which, funding for the development of new weapon systems will be strictly limited and there will be a strong focus on supporting and upgrading the aging weapon systems.

As per the reports, the DOD of U.S wants to find an easy way to connect directly to the small- and mid-size manufacturing companies who already make the parts and components that the DOD needs. To achieve this change, the DOD has founded a project called Connecting American manufacturing i.e. CAM, in order to create a digital infrastructure and also connect U.S. industrial base with the DOD.

According to the Boeing officials, they have forecast that there will be demand for 34,000 new commercial aircraft during the next 20 years valued at $4.5 trillion, with only about 20% of that demand coming from North America and the bulk of the demand will be from the Asia Pacific region, China and India in particular.

According to the reports, China and India will be very large general aviation markets in the future, but currently their infrastructure is missing in terms of general aviation airports, air traffic control systems, and flight training. In the report, there is a prediction made that the Asia Pacific region will become a big consumer of general aviation aircraft during the next 20 years.

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