Subject. The article considers global aerospace and defense companies operating in conditions of COVID-19 pandemic. Objectives. The focus is on systematization of experience in combating the pandemic and analysis of changes in the global aviation market that need to be reflected in the development strategy of the Russian aviation industry. Methods. The research methodology rests on the comparative analysis. Results. The analysis showed that COVID-19 pandemic had practically no impact on the military segment of the aircraft industry. Restrictions on international transportation changed the ratio between international and regional air transportation in favor of the latter. At present, narrow-body jet aircraft with a capacity of 120–150 seats, regional aircraft of medium and large capacity, and general purpose aviation are the most popular. The business segment faces increased competition. The revenues of commercial aircraft manufacturers show a dramatic decline. Conclusions. Diversification of defense and aerospace companies enables to overcome the crises caused by the COVID-19 pandemic. However, a sharp drop in demand for air transportation entailed restructuring in the global aviation market.
Keywords: COVID-19 pandemic, aircraft industry, commercial air transportation, non-price determinant of demand, diversification
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