A year of turmoil and success in aerospace

ABSTRACT

Information on aerospace industry is presented. This year saw a series of notable challenges for the aerospace industry. The covid-19 pandemic led to slower demand in commercial aviation with fewer travelers and a need for fewer workers. With customers deferring new aircraft deliveries, less maintenance work was also required, leading to lower demand for spare parts. Many aircraft manufacturers saw short-term concerns, including cash flow and liquidity. Contrary, on the defense side, the pandemic effects were not as severe due to resources allocated prior to the disease outbreak and the ongoing mission of supporting critical national defense objectives. Despite the uncertainty, there were many success stories.