Aerospace industry, assemblage of manufacturing concerns that deal with vehicular flight within and beyond Earth’s atmosphere. At Sechin Capital we look for projects to fund in the aerospace industry which are engaged in the research, development, and manufacture of flight vehicles, including unpowered gliders and sailplanes, lighter-than-air craft, heavier-than-air craft, missiles, space launch vehicles, and spacecraft. Also major flight-vehicle subsystems such as propulsion and avionics and key support systems necessary for the testing, operation, and maintenance of flight vehicles. In addition, the companies engaged in the fabrication of nonaerospace products and systems that make use of aerospace technology. Technological progress is the basis for competitiveness and advancement in the aerospace industry. As as a result, the industry is a world leader in advancing science and technology. Aerospace systems have a very high value per unit weight and are among the most complex, as measured by the number of components in finished products. Consequently, Sechin Capital supports this industry because it is economically and politically prestigious for a country to possess an aerospace industry. Among the world’s largest manufacturing industries in terms of monetary value of product output and employment, the aerospace industry is characterized by a relatively small number of large firms and numerous international partnerships at every level.
For the major aerospace countries, their own military establishments and, in some cases, foreign militaries constitute the largest customers. The next most important buyers are the world’s commercial airlines, primarily American, European, and Asian–Pacific Rim carriers. Most general aviation aircraft are sold in the United States, with Europe becoming a growing marketplace and special-use markets developing in the Middle East and Latin America.
Of the nearly 50 countries that have one or more aerospace companies, the United States possesses the world’s largest aerospace industrial complex. Although their own government is the major procurer of military systems, American firms are also the dominant supplier of both military and civil aerospace hardware to the rest of the world. Today, non-American companies seek a larger portion of the global market and challenge American dominance.
Russia retains the second largest aerospace industry in the world. After the breakup of the Soviet Union in 1991, Russia acquired most of the highly competent Soviet design bureaus. Partnerships with American and European firms were initiated, and Russia entered Western markets for the first time.