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Aerospace

In: China and the Global Business Revolution

Author

Listed:
  • Peter Nolan

    (University of Cambridge
    University of Cambridge)

Abstract

The aerospace industry has special characteristics tending to push the industry towards large firm size and high levels of concentration. Moreover, the forces pushing in this direction have accelerated sharply since the 1980s. By the late 1990s, it had become one of the most concentrated of all industries. In civil aircraft, there was an effective global duopoly, and in aero-engines a triopoly. In the defence sector, a mere four firms now dominated in the USA. In Europe, the entire industry was in the throes of explosive concentration. It is possible that within a short time there will be one massive European aerospace company spanning the production of both civil and military aircraft. The barriers to entry for developing country aircraft and engine manufacturers have grown drastically in recent years, making the possibility of any developing country building a powerful indigenous industry much less than a decade or two ago.

Suggested Citation

  • Peter Nolan, 2001. "Aerospace," Palgrave Macmillan Books, in: China and the Global Business Revolution, chapter 4, pages 141-240, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52410-1_4
    DOI: 10.1057/9780230524101_4
    as

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