PESTEL Analysis, aeronautical sector, aeronautical industry, Airbus, SpaceX, Boeing, Virgin Galactic, FAA Federal Aviation Administration, EASA uropean Union Aviation Safety Agency, EUROCONTROL European Organization for Safety of Air Navigation, ICAO International Civil Aviation Organization
Aeronautics is the science around the designing, building and flying of aircraft. Ranging from non-powered aircraft to supersonic space transport, and it is one of the world's largest industries in terms of product output, employment and monetary value globally.
The freedom of flight opened up new frontiers, enabling us to travel more freely within the confines of our own atmosphere and later on beyond those confines into outer space. This in turn has contributed to global economic development and improved and advanced our day-to-day lives in a myriad of ways.
[...] The aerospace industry is generally heavily unionised which has a major legal impact on companies. Conclusion The aviation industry has faced major financial issues after the global economic crises, 9/11, and more recently the COVID-19 outbreak. The cost of flight cancellations closed borders and increased screening and security measures have had a huge impact on the profitability of airlines. However, aviation remains the fastest form of international transport for both passengers and cargo and is a service that is needed by billions of people around the world on a daily basis. [...]
[...] Air travel has become more and more common, be it for business or leisure, and is vital for any country's economy. In order for airlines to increase their market share and bolster their brand names, they need to pay attention to the finer details such as seating capacity, space between seats, on-time performance, catering and customer service, both inflight and at the airport. Foreign militaries constitute the largest customers of the aeronautical industry with the next most important buyers being commercial airlines, the largest being American, European, Asian Pacific Rim carriers. [...]
[...] This technology is critical in terms of air traffic and passenger safety and as this technology changes companies continue to benefit from the increased safety of air travel. On the operations front, technology has become critical for companies involved in this industry. More advanced rostering and operation management systems enable airlines to operate more efficiently and safely. While online bookings and check-in systems enable airlines and airport companies to increase efficiency and revenues, by streamlining this process. Airbus and Boeing aircraft manufacturers have invested heavily in developing new and innovative technologies in order to make air travel safer, more profitable and efficient. E. [...]
[...] Environmental Billions of dollars are spent by the aeronautical industry every year in an effort to reduce their carbon footprint and emissions. Fuel is one of the industry's major expenditures, and both airlines and aircraft manufacture invest heavily in research and development to increase the fuel efficiency of their fleets as well as making them more environmentally friendly by reducing both air and noise pollution. Weather is one of the greatest factors involved in aviation accidents, factors such as poor visibility and heavy weather greatly impact the incidents of pilot error which usually result in collisions with terrain or other aircraft. [...]
[...] There are two main divisions in the aeronautics industry, namely Aviation and Aerospace. Aviation, which includes both civil and military aviation, is the most widely used and well known around the world and encompasses not only the production and maintenance of aircraft, but extends to airlines, support business and military divisions making use of these machines. Aerospace is a more specialised and highly technical industry which deals with flight beyond the Earth's atmosphere. This industry is not only involved with the development and manufacture of spacecraft but also ground stations, launch facilities, space stations and satellites. [...]
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