Carrollton, TX -- (ReleaseWire) -- 10/17/2011 -- The UK aerospace industry, which has experienced significant growth over the last five years, is expected to continue that momentum and reach US $50 billion by 2016 with a CAGR of 6.8% over the next five years.
Lucintel, a leading global management consulting and market research firm, has analyzed the UK Aerospace and MRO Market and offers its findings in a comprehensive research report, “Opportunities in UK Aerospace and MRO Market: 2011–2016.”
As described in the report, increasing passenger air travel and the continued development of new programs such as Airbus A380, Boeing 787 Dreamliner, Eurofighter Typhoon, F-35 Lightning III, and the Bombardier C series are expected to support steady growth. The major drivers for the defense sector are tied to budgetary increases, resulting in an increased level of defense aircraft procurement.
Lucintel’s research indicates that growth in global fleet size, increasing penetration of composites in aerostructures, and an increase in air traffic are the key drivers for Maintenance, Repair, and Overhaul (MRO) activity in the UK. The use of composite materials is expanding in aerostructures and other components on various platforms, including the Boeing 787 and Airbus 380, creating new and future opportunities in the MRO market.
The major challenges faced by the UK aerospace and defense industry include the shortage of skilled workers, incorporation of new technologies to meet the global demand, and the presence of MRO hubs in countries such as China and Singapore.
In the UK, the defense market captures the highest value and the commercial aircraft market is second, followed by the business jet market.
This Lucintel research report provides insights regarding recent industry trends, as well as future opportunities and threats. In addition, the report addresses the market by segment, addressing civil and military aviation as well as MRO and offset activities in the UK.
For a detailed table of contents and pricing information on this timely and insightful report, please contact Lucintel at 972-636-5056 or via email at firstname.lastname@example.org. Lucintel provides cutting-edge decision support services that help you make critical decisions with greater speed, insight, and cost efficiency. To find out more, please visit http://www.lucintel.com.
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