Defence and aerospace businesses operate in a risky and fast-changing environment. Technological advancements, geopolitical events, and new market trends constantly force companies to re-evaluate their strategies and operations. If you are looking for a career in the defence or aerospace sector, it’s a great time to get started. Both of these industries have grown substantially over the last decade — especially in emerging markets.
According to research from Markets and Markets, the global defence and aerospace market is projected to reach $940 billion by 2024. Moreover, the demand for jobs in this sector continues to rise as new technologies are introduced into combat theatres around the world. This article will discuss what exactly these two industries entail, explore some of the most prominent defence and aerospace companies operating today, provide advice on getting started with a career in either sector, and give you an overview of what you can expect from your future job search process if you pursue careers in either industry. To do that, we’ll first dive into some background information about both industries…
What is Defence?
The defence industry includes the manufacturing, development, and deployment of weapons for national security. The sector aims to protect national borders from outside threats by developing equipment such as drones and fighter jets, and providing training and military personnel.
What is Aerospace?
Aerospace refers to a revolutionary category of engineering that deals with the production and construction of aircrafts, spacecrafts, rockets, and satellites. The sector has been around since the early 20th century when Otto Lilienthal published his book Birdflight as the Basis of Aviation. Today, it’s a multi-billion dollar industry with no signs of slowing down. There are countless aerospace companies operating in North America today.
Some of these include SpaceX, Boeing, Lockheed Martin Aeronautics Company, Bell Helicopter Textron Incorporated, and Bombardier Aerospace. Many of these companies have a strong history that date back over 100 years ago. They’ve stayed on top by continuously adapting to changing markets and providing innovative technologies for their customers. As such, this is what you can expect from your future career if you choose aerospace: you’ll be constantly learning new skills related to the latest engineering innovations.
Which Industries Operate in Defence and Aerospace?
Defence and aerospace companies are responsible for the development, manufacturing, and sale of various products related to defence. These can include weapons, vehicles, aircrafts, ships, communications systems, drones, and more. In this article we will mainly focus on aerospace companies as they have been growing at a faster rate than defence industries in recent years.
Fast-paced Environment: Constant Change Is the Only Constant
There are many reasons why defence and aerospace companies have to constantly re-evaluate their strategies. For one, these industries operate in a very fast-paced environment. Technological advancements in the defence industry means that equipment is obsolete almost as soon as it’s manufactured. Defence and aerospace businesses are always trying to adapt to the newest technologies and make sure they have the latest weaponry to stay competitive. In addition, geopolitical events can affect the demand for certain types of weapons. For example, after Brexit, demand for military aircraft has skyrocketed because of heightened global tensions with Russia and other European countries.