Aerospace is a term that refers to the atmosphere and outer space. As a human race, we’ve come a long way since the first powered aircraft was invented by Wilbur and Orville Wright back in 1903.
The aerospace industry is very diverse in its nature, covering a multitude of commercial, military and industrial activities. Airplanes have certainly changed our way of travel with most of the world having the ability to fly anywhere they want.
In this article, you’ll learn all about the aerospace industry and what you can expect from aerospace in 2021.
1. The global aerospace industry is marketed at nearly $298.0 billion in 2020.
It has to be said, that the aerospace industry across the globe is a big one – and it’s one that keeps growing. The market itself is expected to grow from $298.0 billion to $430.9 billion in 2025 and $573.6 billion in 2030.
Due to air travel technologies that have advanced over the years and changes in social behavior, it’s an industry that could take humans to and beyond the stars. Many big commercial companies like Virgin, have even created their own form of space travel known as, Virgin Galatic.
The founder of Virgin, Richard Branson himself recently travelled to space and hopes that many others will be able to enjoy the same privileges in the near future. There have been factors in the past that have negatively impacted the aerospace industry, the pandemic being a recent event but it’s one that shows growing demand in its capabilities.
From commercial use of drones, new economies and advances in technology, the value of this industry will likely continue to rise. Drones in particular are seen as one of the key drivers to the growth in the industry. With recent regulations being relaxed, it’s opened up a lot more opportunities in the market. This isn’t just something limited to the US but worldwide.
2. Boeing is seen as the world’s largest company within aerospace.
Closely followed by Airbus, The Boeing Company is a leading manufacturer of military and commercial aircraft. They assist in defence, space and security products and systems across the globe. With approximately 5,900 commercial aircraft, the company has a major influence over the field of aerospace and continues to have a strong growth in its portfolio year after year.
The company supports airlines in the U.S, along with allied government customers in over 150 countries worldwide. The products that Boeing produce have been used in many weapons, commercial and military aircraft, satellites, electronic and defence systems to name but a few.
It’s worth mentioning Airbus as the second-largest manufacturing company as they too have made a significant impact on the industry. The Airbus A320 in particular was the fastest-selling airliner for many years. It became famous for its flight control system and it was the first airliner to bring to the market a fly-by-wire flight control system.
As the industry grows, so too do the companies involved with aerospace. It’s likely both these companies will have to compete with others that are quickly jumping up the list of top organizations for aerospace.
3. Aerospace engineers are in high demand
With so much growth in the industry, it comes as no surprise that aerospace engineers are in high demand currently. If you’re looking for a new career path, then engineering in the aerospace industry can be a financially beneficial one. With the average salary being $107,830, commercial air travel is expected to grow and this increased demand means more engineers are needed.
There’s a lot happening within the engineering field too that’s paving the way to more advanced aircraft in the air and in space. A few worth highlighting are as follows:
Zero-emission aircraft
Due to the heightened worries of climate change, more businesses across many industries are working hard to make everything greener. Whilst the global aviation industry contributes around 2% of all human-induced carbon dioxide emissions, zero-emission hydrogen aircraft could be within reach soon.
Airbus is the company to release the concept of these aircraft which could be in service by as early as 2035.
Automation
Automation is an innovative technology that is changing the way many work processes happen. With automation, most things can be done without the physical influence of a human. It can help improve safety as well as speed up the process of manufacturing for those in engineering.
A major benefit is helping to avoid human error, which often happens within this industry and many others.
Additive Manufacturing (3D Printing)
One of the aerospace engineering tools being used actively is additive manufacturing, known more commonly as 3D printing. This method of manufacturing proves very beneficial due to creating parts quickly and using fewer materials in the process. As such it ends up saving a lot of time and money for those within the business of aerospace.
4. NASA is one of the biggest consumers when it comes to aerospace products
If you’re already familiar with aerospace and you haven’t been living under a rock for the majority of your life, then you’ll know who NASA are. For anyone that doesn’t, NASA stands for National Aeronautics and Space Administration. It’s a U.S government agency that is responsible for technology and science that’s related to air and space.
The Space Age part of NASA began in 1957 when they launched the Soviet satellite known as Sputnik. With a rich history, NASA is only rightfully so, one of the biggest consumers of aerospace products. With an annual budget of over $22 million, they produce many of their products in-house.
However, they also outsource many of the production tasks out to manufacturing companies. It’s also likely one of the contributing factors to The Boeing Company being number one as they work side by side with NASA for its aerospace products.
5. There are nearly 6,542 satellites orbiting the earth as of January 1st 2021.
When we think of space, most of us might believe we have a handful of satellites in orbit. However, that number is a little bit higher. There are nearly 6,542 satellites orbiting the earth as of January 1st 2021. Out of this number, 3,372 are active and the rest are inactive.
Satellites move at around 18,000 miles an hour which means they’ll orbit the earth fourteen times per day! They have better fuel efficiency than those most efficient cars here on earth and they’re programmed to avoid meteorites. Pretty smart, right?
These satellites are responsible for observing distant planets and galaxies. They carry living organisms for scientific experiments and they can help destroy warheads and conduct military intelligence. There are many different types of satellites within our orbit.
The benefits of the aerospace industry
The aerospace industry is one that’s so important and that provides many benefits. It’s an industry that’s relied on by so many whether that’s airlines, wireless technology to space travel. It’s a critical part of modern technology and the future of life as we know it here on earth. Here are just a few other benefits to this wonderful industry.
Provides more job opportunities
Due to the pandemic, there have been a lot of individuals and households across the world, that have been hit hard. This is particularly so for those who’ve lost their jobs. With bills to pay and food to put on the table, it’s industries like aerospace that are helping those without jobs, back into a career.
By having more growth and advancements with aerospace engineering, there’s more job opportunity available to those who may be interested in it. It’s a career field that can be very fulfilling and influential to future generations.
Contributes to technology advancements
There are many parts of this industry that are utilizing new and innovative technologies. This is something that will help continue to test the aerospace industry and as such may result in more advancements in technology further down the line.
Provides an opportunity for future space travel
As it’s already been mentioned, the aerospace industry includes space travel and there’s been a lot of progress within this area over the last few years. As more attention and interest is spent on space travel, there may be wider opportunities for travel beyond this planet.
There could be an opportunity further down the line where other planets are reached through space travel.
It may be something that sounds impossible now but go back fifty to a hundred years and many of the generations back then would find our world mind-boggling.
Aerospace has an exciting future ahead
With so many developments happening within the aerospace industry, it’s sure to have a bright future ahead. Who knows what will come about in the next five years, let alone a decade or two down the line.
From greener aircraft to space travel, the possibilities seem endless. It’s certainly an exciting industry to watch and be a part of.
Author Bio:
Natalie Redman is a freelance writer for many clients across multiple industries. Natalie has two years of copywriting experience. Natalie has a wide range of experience copywriting for web pages for businesses across many industries. She’s also an owner of two blog websites and a Youtube content creator.
