This article will bring you to the list of the countries with the largest aerospace industries in the world. Insider Monkey has recently published an interesting article about it. In the last couple of years, the aerospace industry has had a lot of good things going for it. The demand for air travel has been growing as lower jet fuel prices helped lower airfare costs, as well as global demographics and higher income in emerging markets helped drive this trend. Over the last decade, the number of passengers that boarded a plane per year jumped to 3.50 billion from 2.0 billion. Deloitte estimates that over the next 20 years, passenger and freight traffic will increase at an average annual growth rate of 4.8% and 4.2%, respectively.
Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked three of countries with the largest aerospace industries in the world from their list.
The first one is Italy. In Italy, the aerospace industry is one of the largest, having a turnover of around $20 billion and employing 50,000 people. The largest company in the country is the Leonardo S.p.A, which owns Agusta Westland, the second-largest manufacturer of civil helicopters. It also owns other subsidiaries that produce commercial and military aircraft, including Eurofighter jets, which are built in joint ventures with BAE Systems and Airbus Group. The next country is Spain. Spanish aerospace industry is one of the largest in Europe and includes production of aircraft & systems, engines, and equipment, as well as satellite systems & operations. The industry has grown to a turnover of over $11 billion per year, due to significant investment in research and development that reaches over 10% of the turnover. Spain also has production facilities for several large aerospace companies, such as Airbus and is home to ITP, one of the largest manufacturers of aircraft engine and components. At last, but not least we are mentioning Japan. After the end of the second World War, Japan was banned from any activities related to the production of aircraft, but over the years it has invested heavily in order to be closer to the industries of the US and Europe. The country’s aircraft sector has a turnover of around $14.73 billion and the space sector is around $3.16 billion. Japan is involved in a number of joint international programs, such as the F-2 and he F-35A fighter jets.
For any further useful information, read Insider Monkey’s article about 10 countries with the largest aerospace industries in the world.