The aerospace industry has been rebounding from the pandemic-induced disruptions, with companies rearranging their operations and looking for innovative ways to capture maximum aftermarket value. The global aerospace & defense industry is expected to grow from $700.30 billion in 2021 to $755.24 billion in 2022 and is likely to reach $1.05 trillion in 2026, at a CAGR of 8.5%.
Moreover, increased focus on advanced manufacturing technologies, deployment of innovative digital thread and smart factories to drive efficiencies and customer experiences, and evolving business models are expected to be significant growth drivers for the industry.
