Top 5 Aerospace Companies

Do you think about a career in aerospace? This article will present the top 5 aerospace companies that you should consider when taking a course in mechanical engineering or searching for the most reputable aeronautical or similar firms that hire aerospace engineers. "Aerospace companies" are usually aerospace manufacturers, and they research, design, build, test, sell and maintain aircraft/aircraft parts, missiles, rockets, and spacecraft/spacecraft parts. This includes but is not only space vehicles as well as aircraft engines and propulsion units. The aerospace industry is comprised of industrial, military, and commercial functions. It is essential to understand that aerospace is distinct from airspace, defined as the air directly over the Earth's surface. The air's end and beginning of space are typically estimated to be around 100km from the Earth. This is determined by air pressure being low this high.

The Aerospace Industry

As you'd expect, there are many aerospace companies in the current world, from companies that have been operating for more than a century and were established relatively recently. As of 2017, the value of the world's aerospace industry was around $838 billion. It is expected to continue to increase due to the rising volume of people traveling worldwide and the fact that flying is becoming more easily accessible for more passengers. At the same time, the requirements for inspecting aircraft are also getting more stringent, leading to more aircraft retirements. The estimates suggest that the global aerospace market will be worth $16 trillion by 2038.

It is said that the United States has the largest aerospace industry of any country, comprising 49% of the global market, being based in the United States. There is also a massive gap between it and second-third France with 8.2 percent, and China next in line with 7.3 percent. China's aerospace industry has grown rapidly in recent years, and the company estimates that in the course of 20 years, it will purchase $1.3 trillion in aircraft. This is expected to generate additional business (about $1.6 trillion) in the aftermarket services for the aircraft.

1. Lockheed Martin

Lockheed Martin Corporation is an American aerospace arm, defense, technology, and information security corporation with global interests. It was created through the merger of Lockheed Corporation with Martin Marietta in March 1995. Its headquarters are within North Bethesda, Maryland, and the Washington, D.C. region. Lockheed Martin will employ approximately 115,000 employees worldwide, including about 60,000 scientists and engineers, in January 2022.

2. Boeing

The Boeing Company is an American multinational company that designs, manufactures, and sells aircraft, rockets, rotorcraft satellites, telecommunications equipment, satellites, and missiles worldwide. It also offers leasing and product support. Boeing is among the top worldwide aerospace producers, the third largest military contractor worldwide according to 2020 revenues, and the biggest exporter of the United States by dollar value. Boeing shares are part of the Dow Jones Industrial Average. Boeing is an entity that is incorporated in Delaware.

3. Airbus

Airbus S.E. is a European multinational aerospace company. Airbus produces, designs, and sells military and civil aerospace products worldwide and produces aircraft throughout Europe and other nations outside of Europe. Airbus has three segments: Commercial Aircraft (Airbus S.A.S.), Defence and Space, and Helicopters which is the largest of its kind in terms of revenues and the number of turbine helicopters delivered. In 2019, Airbus was the world's biggest airliner manufacturer.

4. General Electric (G.E.) Aviation

G.E. Aviation, an affiliate of General Electric, is located in Evendale, Ohio, outside Cincinnati. G.E. Aviation is among the leading aviation engine providers and has engine options for most commercial aircraft. G.E. Aviation is part of the General Electric conglomerate and is among the world's giant corporations. The division was operated under General Electric Aircraft Engines ( GEAE) until September 2005. The major competitors for G.E. Aviation in the engine market include Pratt & Whitney and Rolls-Royce.

5. Raytheon

Raytheon Technologies Corporation is an American multinational defense and aerospace conglomerate with its headquarters in Arlington, Virginia. It is among the world's most significant aerospace and defense manufacturing companies based on revenues and market capitalization. Additionally, it is one of the biggest companies that provide intelligence-related services. Raytheon Technologies manufactures aircraft engines, aerostructures, avionics, security, missiles with guided launch satellites, air defense systems, drones, and satellites. It is also a principal military contractor, generating an essential portion of its income through government agencies like the U.S. government.