15 Fastest Growing Industries in the World

7. Commercial Aircraft Manufacturing

Revenue Growth 2019-2020: 13.7%

Commercial Aircraft Manufacturing is responsible for the production and completion of civilian aircraft. This includes aerospace engines, propulsion units, auxiliary equipment, and parts. Development of aircraft prototypes, manufacturer repair, maintenance, and overhauling are all included in this industry. However, military aircraft is not associated with this industry, it is only for civilian aircraft. With the emergence of low-cost carriers and increased air traffic, there has been a demand for newer aircraft models focused on reducing fuel consumption, which has led to growth of this industry. This industry is dependent on downstream demand from airlines, who serve as their prime customers. This is why, with the decrease in demand for air travel, this industry has also taken a hit. The Boeing Company (NYSE: BA) is  a frontrunner of this industry.

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