Previously, civil aviation was considered a luxury due to its exorbitant rates. However, in last decade air passenger traffic has increased significantly. This can be attributed to increasing per capita incomes and also due to the fact that air travel is the fastest and most convenient. In order to meet this increasing demand, aircraft service providers would require more aircrafts to increase frequency of flights in existing routes and, also to venture into new locations. This trend is expected to drive demand for various aircraft components.
The defence industry is primarily driven by socio-economic conflicts and political unrest existing across the globe. Frequent border disputes, civil unrest, terrorist threats and increasing crime rates would warrant governments to invest in advanced defence equipment and technologies. Tracking & surveillance, C4ISR, radars, heat sensors, armoured vehicles and advanced arms & ammunition are all expected to gain traction. U.S., China, India, Russia and the Middle-East are critical markets for defence goods and services.