- Business Insider Africa presents the 10 largest aircraft manufacturing companies by market capitalization.
- The report is courtesy of the global ranking report by companiesmarketcap.com
- The US accounted for six of the top 10 airline manufacturing companies while African countries have made a significant impact in the aviation industry.
The aircraft manufacturing industry is a vital component of the global economy and a driver of innovation, growth, and progress. This industry enables global connectivity and transportation, supports national defence and security with a huge contribution to global gross domestic product (GDP).
Top 10 largest aircraft manufacturers by market capitalization
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The global airplane manufacturing market is valued at over $400 billion and is expected to grow to over 601.51 billion by 2034, representing a healthy CAGR of 3.50% between 2024 and 2034. The industry also contributes significantly to global finances with billions of dollars generated in revenue each year with about 4.1% contribution to the global GDP.
Airbus makes the C295 military aircraft at its factory in Seville, Spain.Francisco J. Olmo/Europa Press via Getty Images
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This very buoyant manufacturing sector continues to refine its craft over the years and more unknown manufacturers are beginning to compete fiercely with the industry champions - Boeing and Airbus for the industry's market share.
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According to the latest industry report from CompaniesMarketCap.com, aircraft manufacturing firms were ranked according to their market capitalization, earnings, operating margin and number of employees among others for October 2024.
Airbus ships some components to its plant in Mobile, Alabama.NICHOLAS KAMM/AFP via Getty Images
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This report will be ranking publicly-traded aerospace companies in terms of their market capitalization at the moment.
The market capitalization, also referred to as market cap, is a term used to measure a company's worth. It is the total market value of a publicly traded company's outstanding shares
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The top 10 aircraft manufacturers in the world by their market capitalization are ranked below:
| Rank | Name | Market Cap (billion) | Country |
|---|---|---|---|
| 1 | Airbus | $136.53 | Netherlands |
| 2 | Honeywell | $130.93 | United States |
| 3 | Boeing | $121.1 | United States |
| 4 | Raytheon Technologies | $120.58 | United States |
| 5 | Lockheed Martin | $104.61 | United States |
| 6 | Safran | $89.8 | France |
| 7 | Northrop Grumman | $68.94 | United States |
| 8 | TransDigm | $64.78 | United States |
| 9 | BAE Systems | $48.96 | United Kingdom |
| 10 | Rolls-Royce Holdings | $41.4 | United Kingdom |
One major thing that stood out from the report was the dominance of the United States of America (USA) as it accounted for six of the top 10 airline manufacturing companies on the list further cementing its place as a powerhouse in the aviation industry.
Although African countries are missing in this ranking, the continent has made a huge impact in the aviation industry.
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The fast-growing African aviation/air transport industry contributes about $55.8 billion to the African economy and according to Airbus’s White Paper report, the top countries in the African Aerospace industry are South Africa with $1.8 billion, Morocco with $1.1 billion, and Tunisia with $430 million in industry sizes.
South Africa is also a major contributor to the global aircraft manufacturing industry with its mastership in the design and manufacture of aircraft parts, UAV’s, satellite systems, and even a full aircraft.
The country is also the single supplier of components and parts for large aerospace companies like Boeing and Airbus.
