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Digitalization Spending by Aerospace Manufacturers

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Digitalization Spending by Aerospace ManufacturersSpending (US$)Source: ABI Research (PT-2531)010B20B30B40B50B60B20242025202620272028202920302031203220332034North AmericaLatin AmericaEMEAAsia Pacific

SOURCE RESEARCH

Digital Transformation and the Aerospace Industry

Presentation | 1Q 2024 | PT-2531

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Spending by aerospace manufacturers (commercial aircraft, military aircraft and missiles, as well as space launch vehicles and satellites) on digitalization is forecast to reach US$53.8 billion in 2034. The market is forecast to grow by a 4.8% CAGR, increasing from US$33.6 billion in 2024 to US$53.8 billion by 2034. Aerospace manufacturers in North America are by far the biggest drivers of digitalization spending, with the Inflation Reduction Act being a factor. While large aerospace manufacturers have been using digital technologies to support their operations further down the supply chain, digitalization will be a priority as part traceability becomes essential.