Impact of COVID-19 on the Global Aerospace and Defence Market and Outlook 2020-2021

Impact of COVID-19 on the Global Aerospace and Defence Market Outlook

Companies in commercial aviation face production delays and reduced demand in the wake of the Coronavirus outbreak. Due to a significant fall in demand, buyers have postponed aircraft purchases. The demand for replacement parts has also declined.

The aircraft industry is capital intensive, and the current situation has raised concerns about the short-term capital adequacy in the sector. On the security side, contractors are better placed because, in short to medium term, they will not feel the effect of COVID-19. Although production may be slow for the same reasons as in aircraft production, it is unlikely that the demand will be affected over the coming two years, as budgets are allocated for such projects before the pandemic and projects are of utter importance for national defence.

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The COVID-19 outbreak may have rendered ineffective most contingency plans of businesses across the world. Typical contingency plans allow operational efficiency following events such as natural disasters, cyber incidents, and power outages. They usually do not take the common quarantines, extended school closures, and additional travel restrictions in the case of a health emergency into account. The outbreak of the coronavirus (COVID-19) has caused widespread economic distress and difficulties for customers, companies, and societies around the world. The situation is shifting rapidly with major impacts.

This exclusive report by EMR explores the outbreak of COVID-19, its impact on the global and regional economies, and its implications on the aerospace and defence sector. The report studies the impact of the crisis on the global economy by assessing parameters like consumption, GDP, business investment, residential investment, inventory, and governmental policies and decisions. The regional economies analysed for Q1 2020 till Q4 2021 are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Keeping in mind the prevailing conditions, EMR’s new report titled, the ‘Impact of COVID-19 on the Global Aerospace and Defence Market’, gives a holistic understanding of the exposure of the aerospace and defence sector to COVID-19, covering markets such as:

• Commercial Aircraft
• General Aviation
• Military Aircraft and Systems 
• Unmanned Aerial Systems 
• Space Systems and Equipment

For each of the above segment, the EMR report also gives an in-depth understanding of both the supply and the demand sides of the market by analysing:

• Key Parameters
• Price Variations of Key Raw Materials
• Production Shutdown
• Cash Flow Constraints
• Supply Chain Disruption
• Labour
• Lockdown Impact
• Consumer Sentiments

With a focus on helping business leaders navigate through the shifting landscape, EMR also proposes some key short and medium to long term policies that look towards future growth while minimizing the economic damage.

Our experts at EMR leverage proprietary data, models, and expert opinion to provide timely insight into what the emerging pandemic means for the current needs of the market and future strategies of the industry players. We concentrate on helping our customers better understand the economic challenges, conditions, and uncertainty faced across all markets around the world. COVID-19’s impact on the aerospace and defence may take an extended period to correct, but global players can refer to our detailed report showcasing the impact on various sectors and mitigate risk in advance.

We have also updated all our reports considering the impact of COVID-19 coronavirus on the various industries. Check out the reports in other categories to get a deeper understanding of how the COVID-19 has been impacting your industry in particular.

Key Highlights of the Report