What You Need To Know About The Aerospace Market In 2022

What You Need To Know About The Aerospace Market In 2022

What You Need To Know About The Aerospace Market In 2022When you think about the aerospace market, you likely think about the tourism industry and commercial airlines. You may not be aware of just how vast and diverse this market is. You can include manufacturing in general within the aerospace market and more specialized services within the market.

The aerospace market is one of the largest and most powerful industries within the United States, supplying a few major markets. These markets include military aircraft, missiles, space, commercial airliners, and general aviation, to name a few. The aerospace market is sometimes also known as the Aerospace and Defense Industry for this reason.

If you’re looking to invest in the aerospace market or even open a business within the industry, you will want to read this article. This article will go over everything you would want to know about the aerospace market over the next year, including upcoming trends

 

Increase In FlightsAnd Demands

Firstly, as you are more than likely aware, there is an increase in the demand for flights. This is because of the increase in demand for tourism. Due to the pandemic, many flights and vacations were canceled, with many people not able to go abroad. This almost crippled the aerospace market across all sectors.

The industry saw tourism businesses collapse, with airlines having to cancel orders for new planes and chartered flights. 2022 is already seeing flights return to pre-pandemic levels, with some states showing signs of increased demand. This is likely due to the fact that many individuals and families wouldn’t have been able to go on vacation for a few years with people ready to leave the country.

 

Digital Innovation Will Help Grow The Industry

One of the key factors within the aerospace market is the ongoing development and interest in digital innovation. The aerospace manufacturing industry, and the aerospace industry as a whole, will see more focus on digital applications. This will help improve the production stage as well as the design stage.

Some of the digital innovation that will continue to grow within the aerospace market includes more use of artificial intelligence to help you improve processes to do with manufacturing, design, and production. Major space companies such as SpaceX and Blue Origin have made significant moves in the space market, with smart reusable rockets that save on cost and have more purposes.

 

Aerospace Engineering Software Will Be Crucial

If you are someone operating within the Aerospace and Defense industry, then you are likely familiar with the importance of aerospace engineering software. Over the years, this software has developed into being an assist for those creating engineered pieces for aerospace manufacturing.

Going forward into the 2022 market, you will find that there is more demand for aerospace engineering software. Those operating within the aerospace engineering market will be able to use software to gain a competitive advantage.

You should look into software for aerospace engineering from expert companies such as topology, who can help you to develop innovative, high-performing products. This company works with top aerospace companies and the U.S. Air Force, so you know you are getting a fully utilized piece of software that can assist you with working and improving the manufacturing process.

Aerospace engineering software can help you enable structural lightweight and multifunctional optimization. Going forward, businesses within the aerospace market will be able to unlock the potential of advanced manufacturing technologies. This will lead to high-performance design and allow you to capture and reuse engineering knowledge. The end goal should see you be able to streamline and automate certain processes.

 

Be Wary Of Supply Chain Disruptions

Going ahead into 2022, you should be aware of the potential supply chain disruptions that could occur within the aerospace market. Many major aerospace giants, such as Airbus, have already signaled their intentions to sift supply orders so that they can continue aircraft production at a steady rate.

Similarly, Boeing is expected to follow this pattern. Due to major manufacturers and producers within the market doing this, you could see some shortages of some components. This includes both major and otherwise, as well as seeing the costs increase over a short time. Eventually, you should see this level out and balance out the costs once more, but in the short term, it could be a struggle for all involved to maintain previous figures, especially pre-covid.

Even now, the aerospace market is facing several supply chain disruptions that will impact production rates. Right now, these supply chain disruptions can relate to labor unrest, trade disputes, and supplier shortages in general.

 

Demand For New Planes

A trend that will continue to grow in the aerospace market is the increased demand for new planes, particularly as airlines start to land on their feet once more. Airbus has more demand right now due to a large backlog of orders that they are still working through, following the issues in 2020.

There are a variety of planes in demand, from narrow commercial aircraft to jets for military applications. There is recent demand for more widebody aircraft. These types of aircraft are primarily for commercial use, as air travel looks to rise up pre-covid levels. Airlines are looking to use more widebody aircraft for long-haul routes.

There is more demand for long-haul flights, particularly as plenty of Americans were stuck in the country, with countries not allowing anyone to come in or out. The expected increase in demand for widebody aircraft will help to sustain the growth of the entire aerospace manufacturing industry.

It’s important to note that this growth won’t last for long, and will likely only occur until major manufacturers Boeing and Airbus catch up to their orders. Some experts have predicted that airlines will need fewer widebody aircraft coming out of the pandemic. This is because widebody aircraft are expensive for airlines to purchase and operate in general.

 

Global Politics Could Affect Growth

A factor that not many people consider when thinking about the aerospace market is global politics. A significant portion of the current aerospace manufacturing supply chain is located in China. While the planes themselves are created in the U.S.

Recent trade tensions between the U.S. and China have led to supplier disruptions, and until these tensions are relieved, you can expect these disruptions to continue. Manufacturers will be impacted largely by slower production rates and increased costs. These increased costs mean that they will have to charge more for their final product.

In fact, some manufacturers may have to look for alternate suppliers to get them through the tough times. That’s what Airbus and Boeing seem to be doing for this year and perhaps going forward into the next few years until the global powerhouses settle on their trade.

 

U.S. Air Force Seeking F-22 Replacement

As mentioned earlier, one of the major players in the Aerospace and Defense Industry is the U.S. Air Force. They have quite a large selection of jets within their fleet, as well as satellites and spacecraft that they care for.

The F-22 was one of the major fighters within the U.S. Air Force, meaning a new fighter would need to be designed and produced. The latest fighter will be reliant on advanced aerospace manufacturing technology. This will need plenty of new parts to be manufactured and produced, as well as the time needed to produce all of the new jets.

The USAF will want to remain at the top of air combat for the next generation. A part of this means that manufacturers will see an increased demand for certain products and services related to the U.S. Air Force.

 

Increase Demand For Twinjet Engines

It is largely agreed within the aerospace market that 2022 will be the year of the large twinjet freighter. This specialized type of aircraft will be growing in popularity with aircraft manufacturers, as it is seen as the future of the industry.

This will lead to an increase in orders being made and an increase in demand for production in general, which should increase the production rates. Twinjet freighters will be produced by manufacturers such as Airbus and Boeing.

 

What The Future Looks Like For The Aerospace Market

The future for the aerospace market is looking bright, with the increase in demand across all sectors, including manufacturing. Narrow-body aircraft will likely be more in demand than widebody aircraft may stay at the same levels.

The key factor moving through 2022 is that software and digital innovation will remain at the forefront of the design and manufacturing process. Digital innovation will be at the forefront of growth within this sector. It will see manufacturing increase across all sectors, with the space market having one of the largest projected growths.

If you are planning on investing in this market, or getting involved in some way in general, then you should be aware of all the things we’ve gone over in this article. You should now have as much information as you need to get started. Remember, doing your own research will be key.