Abstract
Global Aerospace Industry Outlook to 2010: Buyer Spend and Procurement
Strategies and the Impact of Recession and Recovery
Summary
“Global Aerospace Industry Outlook to 2010” is a new report
published by Global Markets Direct in association with ICD Research that
analyzes how aerospace companies products & services spend, procurement
strategies & practices and business are being affected by the recession. In an
uncertain economic climate this report gives you access to the category-level
spending outlooks, buyer budgets, supplier selection criteria, business
challenges and investment opportunities of leading purchase decision makers.
The report also identifies buyers and suppliers future growth, M&A and
investment expectations. The research is based on an extensive survey of
senior and C-level industry executives from our market leading panels.
Scope
- The opinions and forward looking statements of over 450 industry executives
have been captured in our in-depth survey, of which over 40% represent
Director & C-level respondents and a further 33% represent senior
engineers
- This report covers data and analysis on buyer spend,
procurement and industry developments by aircraft manufacturers, aircraft
operators, airlines, MRO and OEM companies and aerospace goods and service
suppliers worldwide
- The report examines current practices and provides
future expectations over the next 12-24 months
- The research is based on
primary survey research conducted by Global Markets Direct in association with
ICD Research accessing its B2B panels comprised of senior purchase decision
makers and leading supplier organizations
- Key topics covered include
buyer spend activity, procurement behaviors & strategies and how these have
been affected by the recession, threats & opportunities for the aerospace
industry, economic outlook and business confidence.
- In the report buyers
identify what suppliers need to do to maintain their business and the key
actions being taken by industry players to overcome the leading business
threats
- The report provides qualitative analysis of the key industry
threats and opportunities and contains full survey results
- The
geographical scope of the research is global – drawing on the activity
and expectations of leading industry players across the Americas, Europe,
Asia-Pacific and Africa & Middle East
Highlights
- As many as 58% of aerospace manufacturers expect to increase their
procurement spend over the next 12 months and a further 18% looking to
maintain it at current levels, and with many claiming to be re-evaluating
their supplier base the market open to competition is expected to increase
over the coming year
- 38% of industry buyers are seeking to engage in
partnerships to optimize working capital and reduce costs - closer cooperation
between suppliers and buyers is being sought during this time of market
uncertainty
- Less than one in five industry buyers do not regularly
evaluate suppliers to ensure they meet high ethical and environmental
standards
Reasons to buy
- Drive revenues by understanding future product investment areas and growth
regions by leading industry players
- Formulate effective sales &
marketing strategies by identifying how buyer budgets are changing and where
spend will be directed to in the future
- Better promote your business by
aligning your capabilities and business practices with your customer’s
changing needs during these times of market uncertainty
- Secure stronger
customer relationships by understanding the leading business concerns and
changing strategies of buyers in the aerospace industry
- Effectively plan
your business strategies
- Predict how the industry will grow, consolidate
and where it will stagnate
- Uncover the business outlook, key challenges
and opportunities identified by suppliers and buyers in the industry
Table of Contents
1 Table Of Contents 2
1.1 List Of Tables 4
1.2 List Of Figures 7
2
Introduction 10
2.1 What is This Report About? 10
2.2 Methodology
10
2.3 Profile of Survey Respondents 11
3 Executive Summary 15
4
Economic Outlook & Confidence 18
4.1 Global Economy Recovery Expectations
18
4.2 Revenue Growth Expectations 22
5 Aerospace Industry Investment
Outlook 27
5.1 Fastest & Slowest Growing Markets 27
5.2 M&A Activity
Predictions 37
5.3 Supplier’s Industry Outlook 40
6 Recession:
Threats & Opportunities For The Aerospace Industry 45
6.1 Leading Business
Concerns Due To Recession 45
6.2 Key Actions To Overcome Business Threats
49
6.3 Key Actions To Maintain & Win Buyer Business 54
6.4 Leading
Recession-Related Business Opportunities 64
7 Aerospace Industry Buyer
Spend Activity 70
7.1 Annual Procurement Budgets 70
7.2 Expected
Change In Procurement Spend 76
7.3 Expected Change In Spend By Product &
Service Category 81
8 Procurement Behaviors & Strategies & The Impact Of
Recession 94
8.1 Critical Success Factors For Supplier Selection 95
8.2 Current Effects Of Recession On Procurement Objectives 100
8.3
Expected Future Effects Of Recession On Procurement Objectives 104
8.4 The
Effects Of Recession On Procurement Strategy 110
9 Appendix 120
9.1
Full Survey Results – Closed Questions 120
9.2 Methodology 128
9.3 Contact Us 129
9.4 About Global Markets Direct 129
9.5 Disclaimer
129
1.1 List of Tables
Table 1: Count Of Global Aerospace
Industry Survey Respondents By Company Type (Number Of Respondents), 2009
Industry Survey 11
Table 2: Buyer Respondents By Job Role (% Buyer
Respondents), Global Aerospace Industry, 2009 11
Table 3: Buyer
Respondents By Organization’s Global Turnover (% Buyer Respondents),
Global Aerospace Industry, 2009 12
Table 4: Buyer Respondents By
Organization’s Total Employee Size (% Buyer Respondents), Global
Aerospace Industry, 2009 12
Table 5: Supplier Respondents By Job Role (%
Supplier Respondents), Global Aerospace Industry, 2009 13
Table 6:
Supplier Respondents By Organization’s Global Turnover (% Supplier
Respondents), Global Aerospace Industry, 2009 13
Table 7: Supplier
Respondents By Organization' s Total Employee Size (% Supplier Respondents),
Global Aerospace Industry, 2009 14
Table 8: Global Aerospace Industry
Expectations Of Global Economy Recovery Timings By Region: North America,
Europe, Asia-Pacific, Rest Of World (% All Respondents), 2009 20
Table 9:
Global Aerospace Industry Expectations Of Global Economy Recovery Timings By
Company Type: Aircraft Manufacturers & OEM' s, Airlines, Aircraft Operators,
Aerospace Industry Suppliers (% All Respondents), 2009 22
Table 10:
Company Revenue Growth Optimism By Global Aerospace Industry Company Type:
Aircraft Manufacturers & OEM' s, Airlines, Aircraft Operators, Aerospace
Industry Suppliers (% All Respondents), 2009 24
Table 11: Company Revenue
Growth Optimism In The Global Aerospace Industry By Region: North America,
Europe, Asia-Pacific, Rest Of World (% All Respondents), 2009 26
Table 12:
Aircraft Manufacturer & OEM Industry: Market Predictions Of The Fastest And
Slowest Growing Regions (% Aircraft Manufacturer & OEM Respondents), 2009
29
Table 13: Airline Industry: Market Predictions Of The Fastest And
Slowest Growing Regions (% Airline Respondents), 2009 31
Table 14:
Aircraft Operator Industry: Market Predictions Of The Fastest And Slowest
Growing Regions (% Aircraft Operator Respondents), 2009 34
Table 15:
Aerospace Industry Supplier Industry: Market Predictions Of The Fastest And
Slowest Growing Regions (% Aerospace Industry Supplier Respondents), 2009
36
Table 16: Key Growth Areas In The Global Aerospace Industry (Analysis
Of Supplier Respondents), 2009 41
Table 17: Key Growth Areas In The Global
Aerospace Industry (Analysis Of CEO/MD/Director/Vice President/Board Level
Supplier Respondents), 2009 42
Table 18: Key Declining Areas In The Global
Aerospace Industry (Analysis Of Supplier Respondents), 2009 43
Table 19:
Key Declining Areas In The Global Aerospace Industry (Analysis Of
CEO/MD/Director/Vice President/Board Level Supplier Respondents), 2009 44
Table 20: Aircraft Manufacturer & OEM Vs. Airline Vs. Aircraft Operator Vs.
Aerospace Industry Supplier: Leading Business Concerns For The Period
2009-2010 Among Global Aerospace Industry Buyers And Suppliers (% All
Respondents), 2009 48
Table 21: Leading Business Concerns For The Period
2009-2010 Among Global Aerospace Industry Buyers And Suppliers By Region:
North America, Europe, Asia-Pacific, Rest Of World (% All Respondents), 2009
49
Table 22: Most Important Actions Being Implemented To Overcome Leading
Business Concerns In 2009-2010 In The Global Aerospace Industry (Analysis Of
All Respondents), 2009 51
Table 23: Most Important Actions Being
Implemented To Overcome Leading Business Concerns In 2009-2010 In The Global
Aerospace Industry – Senior Level Responses Only (Analysis Of
CEO/MD/Director/Vice President/Board Level Respondents), 2009 52
Table 24:
Most Important Actions Being Implemented By Aerospace Industry Suppliers To
Overcome Leading Business Concerns In 2009-2010 (Analysis Of Aerospace
Industry Supplier Respondents), 2009 53
Table 25: Most Important
Actions Being Implemented By Aircraft Manufacturers and OEM’s, Airlines,
Aircraft Operators To Overcome Leading Business Concerns In 2009-2010 In The
Global Aerospace Industry (Analysis Of Aircraft manufacturers and OEM’s,
Airlines, Aircraft Operators Respondents), 2009 54
Figure 18: The Most
Important Actions For Suppliers To Take To Maintain And Secure Buyer
Business During The Recession In The Global Aerospace Industry: Supplier
Responses Versus All Buyer Responses (% All Respondents), 2009 56
Table
26: The Most Important Actions For Suppliers To Take To Maintain And Secure
Buyer Business During The Recession In The Global Aerospace Industry: Supplier
Responses Versus All Buyer Responses (% All Respondents), 2009 57
Table
27: The Most Important Actions For Suppliers To Take To Maintain And Secure
Buyer Business During The Recession In The Global Aerospace Industry: Aircraft
Manufacturer & OEM Versus Airline Versus Aircraft Operator (% Buyer
Respondents), 2009 59
Table 28: The Most Important Actions For Suppliers
To Take To Maintain And Secure Buyer Business During The Recession In The
Global Aerospace Industry: Analysis Of Buyer Respondents By Company Turnover
(% Buyer Respondents), 2009 60
Table 29: The Most Important Actions For
Suppliers To Take To Maintain And Secure Buyer Business During The Recession
In The Global Aerospace Industry: Analysis Of All Buyer Respondents By
Procurement Budget (% Buyer Respondents), 2009 61
Table 29: The Most
Important Actions For Suppliers To Take To Maintain And Secure Buyer Business
During The Recession In The Global Aerospace Industry: Analysis Of All Buyer
Respondents By Region (% Buyer Respondents), 2009 63
Table 30: The Most
Important Actions For Suppliers To Take To Maintain And Secure Buyer Business
During The Recession In The Global Aerospace Industry: Analysis Of All Buyer
Respondents By Purchasing Decision Seniority (% Buyer Respondents With
Purchasing Decision Influence), 2009 64
Table 31: Leading Business
Opportunities During The Recession In The Global Aerospace Industry (Analysis
Of All Respondents), 2009 66
Table 32: Leading Business Opportunities
During The Recession In The Global Aerospace Industry – Senior Level
Responses Only (Analysis Of CEO/MD/Director/Vice President/Board Level
Respondents),2009 67
Table 33: Leading Business Opportunities For
Aerospace Suppliers During The Recession In The Global Aerospace Industry
(Analysis Of Supplier Respondents), 2009 68
Table 34: Leading Business
Opportunities For Aircraft Manufacturers and OEM’s, Airlines, Aircraft
Operators During The Recession In The Global Aerospace Industry (Analysis Of
Buyer Respondents), 2009 69
Table 35: Annual Procurement Budgets In US
Dollars In The Global Aerospace Industry: Aircraft Manufacturer & OEM Vs.
Airline Vs. Aircraft Operator (% All Buyer Respondents), 2009 72
Table 36:
Annual Procurement Budgets In US Dollars In The Global Aerospace Industry By
Company Turnover (% All Buyer Respondents), 2009 74
Table 37: Annual
Procurement Budgets In US Dollars In The Global Aerospace Industry By Region
(% All Buyer Respondents), 2009 76
Table 38: Expected Change In Spend On
Products & Services In The Global Aerospace Industry Over The Next 12 Months:
Aircraft Manufacturer & OEM Vs. Airline Vs. Aircraft Operator (% All Buyer
Respondents), 2009 78
Table 39: Expected Change In Spend On Products &
Services In The Global Aerospace Industry Over The Next 12 Months By Region (%
All Buyer Respondents), 2009 81
Table 40: Future Change In Spend In The
Global Aerospace Industry By Product And Service Category: Expected Increase
Or Decrease Over The Next 12 Months Among Aircraft Manufacturers & OEMs (%
Aircraft Manufacturer & OEM Respondents), 2009 83
Table 41: Future Change
In Spend In The Global Aerospace Industry By Product And Service Category:
Expected Increase Or Decrease Over The Next 12 Months Among Airlines (%
Airline Respondents), 2009 86
Table 42: Future Change In Spend In The
Global Aerospace Industry By Product And Service Category: Expected Increase
Or Decrease Over The Next 12 Months Among Aircraft Operators (% Aircraft
Operator Respondents), 2009 89
Table 40: Critical Success Factors For
Selecting A Aerospace Industry Supplier: Buyer Versus Supplier Comparison (%
All Respondents), Global, 2009 98
Table 41: Critical Success Factors For
Selecting A Aerospace Industry Supplier: Aircraft Manufacturer & OEM Versus
Airline Versus Aircraft Operator Comparison (% All Buyer Respondents), Global,
2009 100
Table 42: Current Effects Of Recession On Procurement Objectives
& Priorities In The Global Aerospace Industry: Aircraft Manufacturer & OEM
Versus Airline versus Aircraft Operator (% All Buyer Respondents), 2009
103
Table 43: Current Effects Of Recession On Procurement Objectives &
Priorities In The Global Aerospace Industry By Company Turnover (% All Buyer
Respondents), 2009 104
Table 44: Expected Changes In Procurement Strategy
In The Global Aerospace Industry To Drive Value Across The Business Due To
Recession: Aircraft Manufacturer & OEM Versus Airline Versus Aircraft Operator
(% All Buyer Respondents), 2009 113
Table 45: Expected Changes In
Procurement Strategy In The Global Aerospace Industry To Drive Value Across
The Business Due To Recession: All Buyers By Company Turnover (% All Buyer
Respondents), 2009 114
Table 46: Expected Changes In Procurement Strategy
In The Global Aerospace Industry To Drive Value Across The Business Due To
Recession: All Buyers By Purchasing Decision Seniority (% All Buyer
Respondents Purchasing Decision Influence), 2009 115
Table 47: Expected
Changes In Procurement Strategy In The Global Aerospace Industry To Drive
Value Across The Business Due To Recession: All Buyers By Region (% All Buyer
Respondents), 2009 117
Table 48: Attitudes & Approaches To Existing
Procurement Practices Among Aircraft Manufacturer & OEMs: Level Of Agreement
To The Following 5 Statements (% Aircraft Manufacturers & OEMs Respondents),
2009 118
Table 49: Airline Attitudes & Approaches To Existing Procurement
Practices: Level Of Agreement To The Following 5 Statements (% Airline
Respondents), 2009 119
Table 50: Aircraft Operator Attitudes & Approaches
To Existing Procurement Practices: Level Of Agreement To The Following 5
Statements (% Aircraft Operator Respondents), 2009 119
Table 51: Full
Survey Results 120
1.2 List of Figures
Figure 1: Leading Business
Concerns For The Period 2009-2010 Among Global Aerospace Industry Buyers And
Suppliers (% All Respondents), 2009 16
Figure 2: Global Aerospace Industry
Expectations Of Global Economy Recovery Timings (% All Respondents), 2009
19
Figure 3: Global Aerospace Industry Expectations Of Global Economy
Recovery Timings By Region: North America, Europe, Asia-Pacific, Rest Of World
(% All Respondents), 2009 20
Figure 4: Global Aerospace Industry
Expectations Of Global Economy Recovery Timings By Company Type: Aircraft
Manufacturers & OEM' s, Airlines, Aircraft Operators, Aerospace Industry
Suppliers (% All Respondents), 2009 21
Figure 5: Company Revenue Growth
Optimism In The Global Aerospace Industry (% All Respondents), 2009 22
Figure 6: Company Revenue Growth Optimism By Global Aerospace Industry Company
Type: Aircraft Manufacturers & OEM' s, Airlines, Aircraft Operators, Aerospace
Industry Suppliers (% All Respondents), 2009 24
Figure 7: Company Revenue
Growth Optimism In The Global Aerospace Industry By Region: North America,
Europe, Asia-Pacific, Rest Of World (% All Respondents), 2009 25
Figure 8:
Aircraft Manufacturer & OEM Industry: Market Predictions Of The Fastest And
Slowest Growing Regions (% Aircraft Manufacturer & OEM Respondents), 2009
28
Figure 9: Airline Industry: Market Predictions Of The Fastest And
Slowest Growing Regions (% Airline Respondents), 2009 30
Figure 10:
Aircraft Operator Industry: Market Predictions Of The Fastest And Slowest
Growing Regions (% Aircraft Operator Respondents), 2009 33
Figure 11:
Aerospace Industry Supplier Industry: Market Predictions Of The Fastest And
Slowest Growing Regions (% Aerospace Industry Supplier Respondents), 2009
35
Figure 12: Merger & Acquisition Activity Expectations Over The Next 12
Months In The Global Aircraft Manufacturer & OEM Industry (% Aircraft
Manufacturer & OEM Industry Respondents), 2009 37
Figure 13: Merger &
Acquisition Activity Expectations Over The Next 12 Months In The Global
Airline Industry (% Airline Industry Respondents), 2009 38
Figure 14:
Merger & Acquisition Activity Expectations Over The Next 12 Months In The
Global Aircraft Operator Industry (% Aircraft Operator Industry Respondents),
2009 39
Figure 15: Merger & Acquisition Activity Expectations Over The
Next 12 Months In The Global Aerospace Industry Supplier Industry (% Aerospace
Industry Supplier Industry Respondents), 2009 40
Figure 16: Leading
Business Concerns For The Period 2009-2010 Among Global Aerospace Industry
Buyers And Suppliers (% All Respondents), 2009 46
Figure 17: Aircraft
Manufacturer & OEM Vs. Airline Vs. Aircraft Operator Vs. Aerospace Industry
Supplier: Leading Business Concerns For The Period 2009-2010 Among Global
Aerospace Industry Buyers And Suppliers (% All Respondents), 2009 47
Figure 18: The Most Important Actions For Suppliers To Take To Maintain And
Secure Buyer Business During The Recession In The Global Aerospace
Industry: Supplier Responses Versus All Buyer Responses (% All Respondents),
2009 56
Figure 19: The Most Important Actions For Suppliers To Take To
Maintain And Secure Buyer Business During The Recession In The Global
Aerospace Industry: Aircraft Manufacturer & OEM Versus Airline Versus Aircraft
Operator (% Buyer Respondents), 2009 58
Figure 20: The Most Important
Actions For Suppliers To Take To Maintain And Secure Buyer Business During The
Recession In The Global Aerospace Industry: Analysis Of All Buyer Respondents
By Region (% Buyer Respondents), 2009 62
Figure 21: Annual Procurement
Budgets In US Dollars In The Global Aerospace Industry: Aircraft Manufacturer
& OEM Vs. Airline Vs. Aircraft Operator (% All Buyer Respondents), 2009 71
Figure 22: Annual Procurement Budgets In US Dollars In The Global Aerospace
Industry By Company Turnover (% All Buyer Respondents), 2009 73
Figure 23:
Annual Procurement Budgets In US Dollars In The Global Aerospace Industry By
Region (% All Buyer Respondents), 2009 75
Figure 24: Expected Change In
Spend On Products & Services In The Global Aerospace Industry Over The Next 12
Months: Aircraft Manufacturer & OEM Vs. Airline Vs. Aircraft Operator (% All
Buyer Respondents), 2009 77
Figure 25: Expected Change In Spend On
Products & Services In The Global Aerospace Industry Over The Next 12 Months
By Company Turnover (% All Buyer Respondents), 2009 79
Figure 26: Expected
Change In Spend On Products & Services In The Global Aerospace Industry Over
The Next 12 Months By Region (% All Buyer Respondents), 2009 80
Figure 27:
Future Change In Spend In The Global Aerospace Industry By Product And Service
Category: Expected Increase Or Decrease Over The Next 12 Months Among Aircraft
Manufacturers & OEMs (% Aircraft Manufacturer & OEM Respondents), 2009 82
Figure 28: Future Change In Spend In The Global Aerospace Industry By Product
And Service Category: Expected Increase Or Decrease Over The Next 12 Months
Among Airlines (% Airline Respondents), 2009 85
Figure 29: Future Change
In Spend In The Global Aerospace Industry By Product And Service Category:
Expected Increase Or Decrease Over The Next 12 Months Among Aircraft Operators
(% Aircraft Operator Respondents), 2009 88
Figure 30: Future Change In
Spend In The Global Aerospace Industry By Product And Service Category:
Expected Increase Over The Next 12 Months Aircraft Manufacturer & OEM Vs.
Airline Vs. Aircraft Operator (% All Buyer Respondents), 2009 91
Figure
31: Future Change In Spend In The Global Aerospace Industry By Product And
Service Category: Expected Increase Over The Next 12 Months Among All Buyers
By Company Turnover (% All Buyer Respondents), 2009 92
Figure 32: Future
Change In Spend In The Global Aerospace Industry By Product And Service
Category: Expected Increase Over The Next 12 Months Among All Buyers By Region
(% All Buyer Respondents), 2009 94
Figure 33: Critical Success Factors For
Selecting A Aerospace Industry Supplier: Difference In Views, Buyers Versus
Suppliers (Net Difference In Ranking), Global, 2009 96
Figure 34: Critical
Success Factors For Selecting A Aerospace Industry Supplier: Buyer Versus
Supplier Comparison (% All Respondents), Global, 2009 97
Figure 35:
Critical Success Factors For Selecting A Aerospace Industry Supplier: Aircraft
Manufacturer & OEM Versus Airline Versus Aircraft Operator Comparison (% All
Buyer Respondents), Global, 2009 99
Figure 36: Current Effects Of
Recession On Procurement Objectives & Priorities In The Global Aerospace
Industry (% All Buyer Respondents), 2009 101
Figure 37: Current Effects Of
Recession On Procurement Objectives & Priorities In The Global Aerospace
Industry: Aircraft Manufacturer & OEM Versus Airline versus Aircraft Operator
(% All Buyer Respondents), 2009 102
Figure 38: Likelihood Of Future Change
In Procurement Objectives In The Global Aerospace Industry (% All Buyer
Respondents), 2009 105
Figure 39: Likelihood Of Future Change On
Procurement Objectives In The Global Aerospace Industry: Aircraft Manufacturer
& OEM Versus Airline Versus Aircraft Operator (% All Buyer Respondents), 2009
106
Figure 40: Likelihood Of Future Change On Procurement Objectives In
The Global Aerospace Industry: By Company Turnover (% All Buyer Respondents),
2009 107
Figure 41: Expected Future Effects Of Recession On Procurement
Objectives & Priorities In The Global Aerospace Industry (% All Buyer
Respondents), 2009 108
Figure 42: Expected Future Effects Of Recession On
Procurement Objectives & Priorities In The Global Aerospace Industry: Aircraft
Manufacturer & OEM Versus Airline Versus Aircraft Operator (% All Buyer
Respondents), 2009 109
Figure 43: Expected Future Effects Of Recession On
Procurement Objectives & Priorities In The Global Aerospace Industry By
Company Turnover (% All Buyer Respondents), 2009 110
Figure 44: Expected
Changes In Procurement Strategy In The Global Aerospace Industry To Drive
Value Across The Business Due To Recession (% All Buyer Respondents), 2009
111
Figure 45: Expected Changes In Procurement Strategy In The Global
Aerospace Industry To Drive Value Across The Business Due To Recession:
Aircraft Manufacturer & OEM Versus Airline Versus Aircraft Operator (% All
Buyer Respondents), 2009 112
Figure 46: Expected Changes In Procurement
Strategy In The Global Aerospace Industry To Drive Value Across The Business
Due To Recession: All Buyers By Region (% All Buyer Respondents), 2009 116
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