The aerospace industry has experienced strong growth in recent years, and this is expected to continue. Opportunities in the sector have been led by growing commercial aircraft production and strong defence spending.
Other factors are leading to an increase in spending within the wider defence market, including heightened global tensions and NATO’s recommendation that member states spend a minimum of 2% of GDP on defence.
Beyond the UK and USA, regional powers such as China, India and Japan are also predicted to drive global defence sector growth in the coming years. This strong investment in defence on a global scale suggests that there will be many opportunities for defence suppliers to win aerospace tenders over the next decade.
According to Deloitte’s 2019 global aerospace and defense industry outlook, “the commercial aircraft order backlog is at its peak of more than 14,000, with about 38,000 aircraft expected to be produced globally over the next 20 years.”
Over this period, it has been predicted that China alone will require 7,690 new commercial aircraft, at a combined value of US$1.2 trillion.
Globally, the aerospace and defence (A&D) industry continues to thrive, primarily led by the United States, China, France, India, Japan, the Middle East and the UK.
DCI publishes thousands of aerospace contracts from all over the world. With over 35 years’ experience behind us, our expertise in aerospace procurement has been used to help some of the world’s biggest brands discover their true potential in supplying to this industry.
The next decade will continue to see the defence industry drive growth across the aerospace sector.
This area of defence is vast, and the diversity of components needed to produce an aircraft means that there are opportunities throughout the supply chain to win aerospace tenders for businesses of all sizes.
Opportunities to win aerospace tenders exist across the following areas:
As well as engineering, manufacturing, repair and maintenance services, there is a huge requirement for parts within the aerospace sector. These include manufacturing parts, major assembly parts and smaller component parts – parts alone account for 79% of all UK aerospace exports.
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The UK aerospace industry is the second largest in the world, behind only that of the US.
In recent years UK civil aerospace turnover totalled over US$44.6 billion, with the sector claiming approximately 17% of the global market share.
The aerospace industry here is well supported by the UK Government and the Aerospace Growth Partnership (AGP), a joint initiative between government and industry which will spend £4 billion between 2016 and 2026 on a number of projects, including a £400 million R&D fund for the aerospace sector.
The AGP is a partnership between government and industry which was established in 2010 to secure the future of the UK aerospace industry until 2030 and beyond.
Ambitious spending plans like this will ensure that the UK remains a global leader in the aerospace sector and that the industry will continue to be attractive for suppliers of all sizes to get involved in.
The aerospace sector requires a diverse range of suppliers for its partnerships to work.
If your business wants to win more work within this marketplace, it is open for business to innovative suppliers.
To win aerospace contracts, it is vital that you engage early with the defence buying community. This will prepare your business to meet future industry demands, while buyers who engage early with suppliers can understand their requirements better by speaking directly with industry experts and market leaders.
Let us showcase the aerospace tender opportunities with DCI through a free demo.
Aside from aerospace tender alerts, our defence intelligence platform supports early engagement, which means that your business can learn more about who your competitors are and who they’re winning business with.
If you’ve any questions, don’t hesitate to get in touch, as we’re here to ensure that you get an understanding of the bigger picture. Start winning more work within this lucrative marketplace – speak to one of our procurement team during a free tailored demo