NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2007/12/14 - The global aerospace industry is flying high. As per the RNCOS report, the industry will witness concrete growth in future led by increased demand from the prospering Asia-Pacific economies (India and China).
RNCOS, the leading research firm, has recently released its market research report “Global Aerospace Market Analysis” to discuss the growing global aerospace industry. The focus of this report is on the emerging Asia-Pacific market and the global aerospace industry, which is defined as the shipment of aircraft, engines, parts etc.
According to the report, the US continued to be the biggest market for aerospace manufacturing during 2006, experiencing an impressive growth rate of 8%. The growth momentum is likely to continue in 2007 with an anticipated growth of around 6%.The upward movement is mainly led by augmented delivery of commercial aircraft, engines and parts.
On the other hand, as the report predicts, a big proportion of the demand will stem from the Asia- Pacific region. Don Birch, President and CEO of Abacus International, said that shifting airline models including the advent of low cost carriers, the thriving markets of China and India assisted by a stronger Vietnam have led to record investment levels in the airports, aircrafts, in a statement published by Express Travel World on October 14, 2007.
A Senior Research Analyst at RNCOS agrees that growth will be particularly led by the burgeoning low cost economies of China and India that will propel the worldwide aerospace industry. The economic influence of these rising countries will lead to rapid increase in the demand for air traffic and low-priced products, with the players of the aerospace industry moving towards customized products.
The RNCOS research further marks the areas that will result in substantive growth of the aerospace industry; these include international trade, cost reduction, technological advancement and cost-effective aerospace products. However, the presence of impediments like escalating fuel prices, increased complexity, safety issues and increasing production cost along with ecological apprehensions regarding sustainability pose a major threat for the industry.
“Global Aerospace Market Analysis” also gives an updated overview on the global aerospace market, including countries such as US, UK, China, India, South Korea, Singapore, Germany, and Brazil. The research provides extensive research and rational analysis on the current market trends, emerging technologies and the future outlook of the global aerospace industry. It also discusses the competitive market landscape, major opportunities and challenges, and driving forces of the global aerospace industry.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.