Research and Markets has announced the addition of the "Global Commercial Aircraft Manufacturing Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global Commercial Aircraft Manufacturing market to reach US$159.98 billion by 2015. One of the key factors contributing to this market growth is the growth of the Commercial Aircraft segment. The Global Commercial Aircraft Manufacturing market has also been witnessing an increasing backlog of orders. However, complex regulatory requirements pose the biggest challenge in the Global Commercial Aircraft Manufacturing market.
The key vendors dominating this market space are European Aeronautic Defence and Space Co., General Electric Co., The Boeing Co., and United Technologies Corp.
The other vendors mentioned in the report are Honeywell International Inc., Textron Inc., and Embraer S.A.
Commenting on the report, an analyst from TechNavio's Automotive team said: ''The Global Commercial Aircraft Manufacturing market is expected to witness increasing demand for commercial aerospace products from developing countries in the coming years, leading to market consolidation and expansion. Many companies are focusing on expanding their presence in developing countries by embarking on diverse strategic initiatives, which are expected to enhance their topline growth and market reach.''
According to the report, one of the major growth drivers is the increasing focus on R&D. The strong focus of the vendors in the Global Aerospace industry on R&D activities to develop innovative solutions and enhance existing product lines is a major factor that drives the growth of this market. Currently, the focus of many vendors in this market is on enhancing existing products and services as well as launching first-to-market products to offer customers a wider range of choices, improve aircraft performance, and set new standards for customer safety, comfort, and in-flight productivity.