The sky is no longer the limit.
The Aerospace sector is a heavy-duty industry that provides employment to millions of people globally in different capacities. It is a sector that was not taken very seriously initially since the risks of flying were high, but today, the aerospace sector is the backbone of the travel, transportation and logistics industry.
- The aerospace sector is roughly divided into two sub-sections - the civil aviation sector and the military aviation sector.
- Recently, space technology (thanks to SpaceX) has also come under the purview of aerospace.
- The global aerospace industry was valued at $342.4 billion in 2019.
- This sector has been hard-hit due to the pandemic and the risk of catching COVID-19 while flying.
- Europe’s Airbus and the USA’s Boeing are the biggest aircraft manufacturers in the world.