2021 Aerospace and Defense Industry Outlook
2021 Aerospace and Defense Industry Outlook
Global aerospace and defense (A&D) industry revenue is expected to begin to recover in 2021 after a difficult year in 2020. But this recovery will likely be uneven across the two key sectors, commercial aerospace and defense. The commercial aerospace sector has been significantly affected by the COVID-19 pandemic, which has led to a dramatic reduction in passenger traffic, in turn affecting aircraft demand. As a result, the commercial aerospace sector is expected to recover slowly, as travel demand is not expected to return to pre–COVID-19 levels before 2024.1 The defense sector is expected to remain stable in 2021, as most countries have not significantly reduced defense budgets and remain committed to sustaining their military capabilities. However, given the disruption in the complex global supply chain, some defense programs could face minor cost increases and schedule delays in 2021.
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by Deloitte
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