Analyse the industry structure of the 'civil aerospace market' in the Essay

Analyse the industry structure of the 'civil aerospace market' in the aircraft construction industry - Essay Example In the particular case, Pestel analysis is considered to be the most appropriate scheme for the examination and the evaluation of external environment of civil aerospace market not in relation with a particular country but in the context of the international community. Civil aerospace industry is critical for the performance of aircraft construction industry. Under these terms possible failures in the former may lead to severe political consequences for the country where the latter is related. It is for this reason that governments around the world pay significant attention to the particular industry taking all measures (at the highest possible level) that ensure the profitable and effective operation of the firms that belong in the specific industry. Possible financial support of the relevant firms by the state is also a common phenomenon. Currently, financial markets around the world are characterized by severe turbulences. In this context, exchange rates and interests tend to change almost daily. As a result, the design and the application of a long term strategy for the firms operating in the civil aerospace industry is a challenging task. In this context, appropriate measures should be taken by governments around the world towards the stabilization of rates at least for a specific period. Moreover, alterations in the value of currencies within all countries should be avoided at the highest possible level trying to keep the balance among economies in the global marketplace. Only in this way civil aerospace industry could be effectively developed in the long term. A major characteristic of modern era is the trend for creation of common social and cultural patterns. However, this ‘globalization’ in cultural and social traditions cannot be considered as having only positive aspects. In fact, firms operating in the civil airspace industry should take into consideration that culture still remains the major factor that influences