Aerospace & Defense
The aerospace and defense (A&D) industry has been recuperated in the past couple of years and experiencing significant growth due to strengthening passenger travel demand and continuous increase in global military expenditure. The commercial aerospace sector has remained stuck with order backlog all-time high that too with a continuous spur in demand of next-generation fuel-efficient aircraft fueled by a rise in oil prices. In response, component manufacturers and OEMs are expected to ramp up production rates. However, supply chain interruptions, heightened border tensions globally, the recovery defense budget of regional powers expected to represent growth in the defense sector. Aerospace & Defense industry refers to businesses that are engaged in research and development, engineering and production of facilities for aerospace and military. Aerospace is a diverse industry verticals that includes research, design, manufacturing and maintaining the aircraft, spacecraft, missiles and space vehicles. On the other hand, defense includes production, sales, and services related to industrial and military applications. It includes the production of aircraft & space vehicles, satellites, ships, military weapons and systems designed to operate on land, sea, and air.