Aerospace Industry Analysis

A small number of companies dominate the aerospace industry.

According to the Bureau of Labor Statistics (BLS), the aerospace industry is split into civil and military branches. A small number of companies dominate both sides of the industry to design and manufacture aircraft that fly through the Earth's atmosphere and in outer space.

Effects

The growth and continued success of the aerospace industry has had a number of effects on the world, including the ability of humans to travel to different areas of the world in a short period of time. The aerospace industry also affects other industries, including travel and tourism, logistics, telecommunications and electronics.

Industry

The BLS explains that both the civil and military aerospace industries produce similar aircraft. The military industry also includes the manufacture of weapons and aircraft to deliver weapons. The civil aircraft industry includes the manufacture of passenger and cargo aircraft and helicopters.

Production

More than half of the people employed by the aerospace industry are involved in production or professional jobs, according to BLS. In the U.S., the federal government is the largest consumer of goods from the aerospace industry, with the majority of contracts awarded by the Department of Defense and the National Aeronautics and Space Administration (NASA).

References

• Bureau of Labor Statistics: Aerospace Products & Parts Manufacturing
• EH: The History of the Aerospace Industry