Aerospace and Defense Market Research Reports, Analysis & Trends
2020 was a rough year for the global aerospace and defense industry, with the coronavirus outbreak wreaking havoc on local and international travel activities. The industry reported a revenue decrease of 8% in 2020 from 2019, with a reduction in profit by more than 60%. The number of passengers carried worldwide was only witnessing a hike from 2008 to 2019. According to the World Bank, 4.397 billion passengers were carried by air transport in 2019. But the shutdown of air travel in the wake of COVID-19 pandemic caused significant disruptions in the travel business as a result of declining production of aircraft OEMs and overnight shutdown of airlines across the world. As per the General Avia Read More...