Aerospace Industry Report 2024: Insights & Market Data

The aerospace industry is at a turning point in terms of innovation. After years of industry innovation dominated by large companies, the need for a sustainable future or air travel and operations have given rise to numerous startups. This report explores market data as well as the key areas of innovation and their implications for aerospace & aviation companies.

The aerospace industry report (2024) offers a comprehensive overview of an industry at the forefront of innovation and growth. This year has seen remarkable advancements in aerospace technology, driven by the increasing demand for efficient, sustainable aviation and the exploration of new frontiers in space travel. With a focus on next-generation aircraft, space tourism, and the rapidly growing satellite industry, the report analyzes key developments, market dynamics, and the strategic moves of leading players that are propelling the industry forward.

This aerospace industry report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights Aerospace Industry Report 2024

Executive Summary: Aerospace Industry Report 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 3.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 2650+ aerospace startups developing innovative solutions to present five examples from emerging aviation and aerospace industry trends.

  • Industry Growth Overview: The Aerospace Industry Report offers a comprehensive snapshot of the sector’s current status, and records a slight slowing of 2.33% in industry growth over the last year.
  • Manpower & Employment Growth: However, the industry accomodates significant scale, with a surge of more than 426 000 employees added in the past year, reflecting the continuing demand for aerospace expertise across more than 80 000 companies.
  • Patents & Grants: A strong emphasis on research and development is highlighted with over 56 900 patents and 2550 grants supporting innovation in the sector.
  • Global Footprint: The aerospace sector also employs 9 million people globally, with top country hubs being the USA, UK, India, Germany, and Canada, and leading city hubs in London, New York City, Bangalore, Dubai, and Houston.
  • Investment Landscape: With an average investment value of USD 49 million and over 6500 investors, the aerospace industry showcases investor confidence and commitment to cutting-edge technology.
  • Top Investors: Key investors include Alibaba Group, Stellantis, Oaktree Capital Management, European Investment Bank, Warburg Pincus, Industrial and Commercial Bank of China, and more.
  • Startup Ecosystem: the report highlights standout aerospace startups, including Solideon (Aviation Analytics), Spark e-Fuels (Sustainable Aviation Fuel), EDGE (Air Defense Systems), Hadrian (Precision Machining), and Shift5 (Aviation Maintenance).
  • Recommendations for Stakeholders: Stakeholders are encouraged to embrace the industry’s growth rate and focus on innovation and investments. And to actively support the development of sustainable aerospace technology.

Explore the Data-driven Aerospace Market Report for 2024

The Aerospace Industry Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. Despite a slight decline of 2.33% in industry growth over the last year, the report indicates a vibrant ecosystem with over 89 000 companies listed in the database. The sector has also experienced a surge in manpower, with more than 426 000 employees added to the industry. This reflects its significant scale and the continuing demand for aerospace expertise.

Aerospace Industry Report 2024 | StartUs Insights

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Globally, the aerospace sector employs over 9 million people, with the top five country hubs located in the USA, UK, India, Germany, and Canada. The leading city hubs include London, New York City, Bangalore, Dubai, and Houston. These hubs represent the central nodes of aerospace activity, where cutting-edge research, development, and manufacturing converge, propelling the industry despite its recent growth challenges.

The report also underlines the industry’s intellectual property achievements with over 56 900 patents, showcasing a strong emphasis on research and development. Additionally, the sector has been supported by more than 2550 grants, further fueling its innovation.

What data is used to create this aerospace industry report?

Based on the data provided by our Discovery Platform, we observe that the aerospace industry ranks among the top 5% in the following categories relative to all 20K+ topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

  • News Coverage & Publications: The industry has seen over 1500 publications. This highlights extensive media and academic interest in its developments.
  • Funding Rounds: Our database reveals more than 17 000 funding rounds, showcasing the sector’s dynamic and well-supported financial landscape.
  • Manpower: With more than 9 million workers, and an addition of over 426 000 new employees in the last year, the industry exhibits significant employment growth.
  • Patents: The possession of over 56 000 patents underscores the industry’s forefront position in innovation and technological advancement.
  • Grants: Benefiting from over 2500 grants, the sector demonstrates strong support for research and development, crucial for its continued evolution.
  • and more. Book a demo to explore all data points used in this report.

A Snapshot of the Global Aerospace Industry

The aerospace industry, a cornerstone of modern technological advancement, employs a massive workforce of 9 million individuals globally. This sector, vital for both civil and military applications, has experienced a significant increase in employee numbers, with over 426 000 new professionals joining in the last year. This growth underscores the industry’s expanding scope and the escalating demand for aerospace expertise in various domains, including aircraft manufacturing, space exploration, and defense systems.

The surge in manpower is not just a testament to the industry’s robustness but also reflects the increasing complexity and sophistication of aerospace technology. As innovations like reusable rockets, unmanned aerial vehicles, and advanced satellite systems evolve, the need for skilled professionals in engineering, design, research, and manufacturing has soared. This trend is a clear indicator of the sector’s commitment to pushing the boundaries of what’s possible in air and space travel.

Moreover, this employment growth contributes significantly to the global economy. The aerospace sector, known for its high-paying jobs and extensive supply chains, plays a crucial role in economic development. The addition of over 426 000 employees in a year also highlights the industry’s resilience and adaptability in the face of challenges, including the recent global economic shifts and the increasing emphasis on sustainable practices.

Explore the Funding Landscape of the Aerospace Industry

The aerospace industry, a beacon of innovation and technological prowess, has seen substantial financial backing, with an average investment value of USD 49 million. This figure highlights the significant capital required to foster advancements in a sector that encompasses everything from aircraft manufacturing to space exploration. The involvement of over 6500 investors indicates a widespread belief in the industry’s potential and a robust appetite for investment in cutting-edge aerospace technology.

With more than 17 000 funding rounds closed, the industry demonstrates a vibrant and dynamic investment landscape. Each funding round represents a step forward in the development of new technologies, from more efficient aircraft to revolutionary space vehicles. This high number of investment activities showcases not only the industry’s financial health but also the sheer scale of innovation occurring within it.

Looking ahead, the aerospace industry’s trajectory seems geared towards further expansion. With the ongoing race for space exploration and the rise of commercial space travel, coupled with the continuous evolution of aviation technology, the demand for skilled aerospace professionals is expected to grow even further. This growth will not only fuel innovations in aerospace but also create numerous opportunities for job creation and economic development worldwide.

 

 

Who is Investing in Aerospace Companies?

In the aerospace industry, the top investors have collectively allocated almost USD 4.7 billion across more than 35 companies. This investment reflects the strategic importance of aerospace and the confidence investors have in its potential. Here’s a look at the key players:

  • Alibaba Group: Invested USD 700 million in 4 companies, highlighting its significant stake in the industry’s growth.
  • Stellantis: Contributed USD 650 million to a single company, showcasing a targeted investment strategy.
  • Oaktree Capital Management: Investments of USD 650 million spread across 4 companies, indicating a diversified investment approach.
  • European Investment Bank: Infused USD 595 million into 6 companies, underlining its role in funding multiple aerospace initiatives.
  • Warburg Pincus: Committed USD 575 million across 9 companies, showing a broad and substantial investment footprint.
  • Industrial and Commercial Bank of China: Focused its investment of USD 575 million in a single company, suggesting a high-value, strategic investment.
  • Insight Partners: Invested USD 490 million in 6 companies, balancing its portfolio across multiple aerospace ventures.
  • Fidelity Management and Research Company: Allocated USD 470 million to 4 companies, reinforcing its role in supporting the sector’s development.

These investments are driving the progress in aerospace, including the development of sustainable aviation fuels, advancements in satellite technology, and the nascent field of commercial space travel. The economic impact of these investments extends beyond the aerospace sector, contributing to job creation and technological advancements in related industries.

The aerospace industry is on an upward trajectory, embracing new technologies as indicated by data in the Discovery Platform. Aviation Analytics is emerging as a hot topic trend with 20 companies, showcasing the sector’s pivot towards data-driven insights. A significant focus has been placed on Sustainable Aviation Fuel, with 484 companies, signaling a concerted move toward environmental sustainability. Meanwhile, Air Defense Systems see active development by 171 companies, underscoring the increasing importance of security. Book a demo to check the full list of trends in the aerospace industry.

Aerospace Industry Report 2024 | StartUs Insights

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5 Top Examples from 2650+ Innovative Aerospace Startups impacting the Industry

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

Solideon Berkeley advances Aerospace Analytics

Solideon, based in the US, develops a manufacturing system using additive technologies to reduce aerospace production cycle times. The startup employs AI and machine learning for design optimization and enhancing additive manufacturing processes. Its Aperture technology integrates a collaborative robotic system for efficient production of vehicles and modules. This technology combines advanced analytics, materials processing, 3D welding, and robotics to improve production efficiency. It also reduces waste and speeds up the design-to-launch process in sustainable space launches.

Spark e-Fuels produces Sustainable Avaiation Fuel

German startup Spark e-Fuels is developing sustainable aviation fuel (SAF) production technology using renewable energy sources like solar and wind. Its technology connects renewable energy directly to fuel production, optimizing the use of inexpensive renewable electricity. This method enables on-site SAF production, reducing competition for renewable resources in other industries. Spark e-Fuels’ approach holds the potential to contribute to achieving net-zero aviation by replacing most aviation carbon emissions with renewable fuels.

EDGE builds Air Defense Systems

UAE-based startup EDGE offers the SkyKnight air defense system, designed for rapid deployment against various aerial threats. Compact and capable, SkyKnight is equipped to defend against rockets, artillery, mortars, and other airborne weapons. It is also suitable for mobile and inner-layer defense and is quickly deployable to new locations. EDGE addresses critical security needs for areas at risk of aerial attacks.

Hadrian facilitates Rapid Precision Machining

US-based startup Hadrian Automation manufactures critical precision components for aerospace and defense. Its automated factories produce precision components swiftly and economically, supporting advanced manufacturing in space and defense sectors. Hadrian’s automated facilities significantly expedite production in the industry. This allows its customers to ensure timely delivery and real-time visibility of components throughout their production and inspection processes.

Shift5 enables Predictive Maintenance for Aerospace Companies

US-based startup Shift5 offers a Predictive Maintenance Module for aerospace companies. This module provides comprehensive insights from vehicle data, enhancing maintenance programs in commercial rail, airlines, and defense. Shift5’s system enables proactive decision-making, optimizing resources, and addressing potential issues for safety, performance, and reliability. It is also capable of capturing complete data from aircraft components and data buses.

Looking for Comprehensive Insights into Aerospace Trends, Startups, or Technologies?

The aerospace industry report concludes that the sector is on a trajectory of robust expansion and technological breakthroughs. Despite challenges, aerospace continues to grow with advancements in propulsion technology, materials science, and digitalization. All of this paves the way for smarter, cleaner, and more efficient air and space travel. The industry’s commitment to innovation and collaboration also signals a future where aerospace plays an important role in connecting and advancing human society. Book a platform demo to explore all 2650+ startups and scaleups, as well as all industry trends impacting aerospace companies.

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