Air Max's video: Top 10 Aerospace Companies by Revenue

Since 2008, the aerospace industry has experienced a slowdown in growth due to reduced global military spending. Aerospace companies that rely more heavily on defense contracts have seen revenues fall or flatten as defense departments and ministries of defense shift procurement activities away from defense contractors and toward technology companies. However, the aerospace industry outlook for 2020 and beyond seems to be changing as increased global security threats force countries, including the United States, to upgrade their weapons and security platforms. Low oil prices and stable gross national product growth across the globe will continue to fuel commercial aerospace revenue, as aircraft manufacturers gear up for the production of next-generation aircraft. Increased Defense Spending and Aerospace Companies Worldwide defense spending is estimated to reach $1.9 trillion in 2020, an increase of about 4% over the previous year. The United States, China, and India are expected to be the countries driving the rise in defense spending. The United States Department of Defense is expected to spend $718 billion in 2020. All this has resulted in a jockeying of positions for the world’s top aerospace companies, as revenues are expected to surge in the coming years due to increased spending in both the military and commercial sectors. Below we review seven of the top aerospace companies in the world.