Strategic Analysis Of Airbus: Target Market, Industry Analysis, PESTEL And Porter’s Five Forces Analysis

Overview of Airbus

Airbus is an aircraft manufacturing corporation which was founded in 1970; it operates Aerospace and defence industry. The company offers its services worldwide, and its headquarters is situated in Leiden, Netherlands. The company is formed by a European joint venture between EADS and BAE system (Airbus, 2018a). This report will develop a strategic report for Airbus and analyse its target market and the industry in which it operates. Further, this report will use PESTEL and Porter’s five forces analysis to analyse external factors that affect the operations of the corporation.  

The company is the largest aeronautics firm in Europe and a worldwide leader. Airbus products include commercial, and defence aircraft such as A320, A330, A300, A380 and others and it has delivered more than 10,926 aircraft globally (Airbus, 2018b) (Figure 2). The company offers its services in countries across the globe, and its CEO is Tom Enders. It operates from more than 180 locations and with 12,000 direct suppliers globally (Airbus, 2018b). The corporation has a physical presence, and it is majorly available in four European Union countries which include France, Germany, the United Kingdom and Spain. 

The target market of Airbus includes four major market areas which include airline operators globally and government defence agencies. Major airlines clients of Airbus include Lufthansa, Northwest Airlines, US Airways, Air China and others. The government agencies worldwide purchase defence aircraft from Airbus for military and defence purposes (Airbus, 2018c). 

Airbus operates in aerospace and defence industry, and it manufactures both low and premium class aircraft for its customers. The increase in the global defence spending is beneficial for Airbus since it increases the demand for fighter planes. In 2016, the industry generated revenue of $709 billion resulted in $69 billion in profits, and it has reported a growth of 3 percent in revenue (PwC, 2017). The growing number of aircraft deliveries in the future is a positive sign for Airbus. According to the data of IATA (2017a), the number of air traveller has increased 7 percent in 2017. The number is expected to nearly double by 2036 (IATA, 2017b) (Figure 3). Boeing is the direct competitor of Airbus, and other competitors include Embraer, Bombardier and COMAC. In terms of aircraft deliveries, Airbus is ahead of Boeing. 

Airbus is a world-leading manufacturer, and it has adopted a value-added strategy to maintain its competitive advantage in the industry. According to Kiran Rao, Executive Vice President of Airbus, the company relies on an empowered strategy team which focuses on providing tailored solutions to customers across the globe (Airbus, 2016a). This strategy is good because the strategy team focuses on analysing current market trends, evolution, infrastructure development and microeconomic forecasts before taking business decisions to ensure that its products are based on customers’ requirements. Airbus is in a strong position while comparing it with its competitor such as Boeing as its aircraft deliveries are more than Boeing (Napolitano, 2017) (Figure 4). These factors add value to the company’s products and make it successful in the aerospace and defence industry.

Political	Economic	Social
· Brexit – It might affect the business of Airbus in UK and EU countries (Topham, 2018) · Deregulation of US Airline – increase in number of private airlines in US which is the biggest market for Airbus (Omics Online, 2016) · Trump’s decision to increase military spending –  increase in demand for military aircraft (Rotor and Wing, 2018) · Emmanuel Macron, President of France, declared to increase military spending (Chassany, 2018) · Increase in terror attacks – with ISIS and al-Qaeda (Turak, 2017) · Liberalisation of trade between US and EU creates new opportunities for Airbus (Mawby, 2017) · Payment of €81 million by Airbus to end German corruption probe (The Local, 2018) · Tax deductions in France (Altmeyer, 2016) · Repayment to government investors for development of poorly selling A380 (Tovey, 2017) · French and German Governments decision to replace the top management of Airbus (Briganti, 2017)	· Increase in Jet fuel prices (IATA, 2017c) · Growth in economic performance of airline industry in 2017 (IATA, 2017d) · Decrease in profits by 63% due to drop in foreign exchange rates (Davies, 2017) · Air-traffic growth in emerging markets (The Nation, 2017) · Low MRO labour costs in countries such as India, China and Asia-Pacific (Derber, 2017) · Increase in disposable income in emerging markets in next 20 years (Airbus, 2018e) · Efficiency in business cycles (Airbus, 2017a) · Competitors pricing strategy (Zhang, 2016) · Duopoly between Airbus and Boeing (Pearlstein, 2018) · Increase in unemployment (Reuters, 2018)	· Increase in number of air travellers (IATA, 2018b) · Change in lifestyle (Kletzel and Terry, 2017) · Airlines are getting closer to dynamic pricing (Silk, 2018) · Change in consumer preference – increase in air travel (Davison, Littleford and Ryley, 2014) · Disaster such as 9/11 – increase in fear of air travel (Rose et al., 2017) · Improvement in social mobility in Europe (Sanders, 2013) · Changing attitude towards quality and customer service (Wang, Lin and Tseng, 2011) · Increase in number of airline operators (IATA, 2017c) · Attitude towards green products and changing airline industry (Davies, 2018) · Highest growth in tourism in past seven years (UNWTO, 2018)

Target Market of Airbus

Technological	Environmental	Legal
· Increase in research funding from Airbus (Hughes, 2016) · Development in Information technology (IT) in passenger aircraft (Airbus, 2018f) · Use of new materials in aircraft manufacturing (Standridge, 2014) · Use of Robotics in Aircraft manufacturing (Anandan, 2016) · Improvement in security technology such as SSL (secure sockets layer protocol mechanism) (Sampigethaya, Poovendran and Bushnell, 2008) · Presence in online marketing (Digital Training Academy, 2018) · Positive influence of social media presence (Garcia, 2016) · Alternative resources to substitute oil due to the prices (Wee, 2012) · Advancement in aerospace materials (Airbus, 2016c) · Effective technology to reduce environmental impact (HBS, 2016)	· Dividing global air traffic into regional traffic flow (Azzam, 2017) · Monitoring of pollution caused by the company to reduce its impact (Greenbiz, 2014) · Use of eco-friendly and eco-efficient technologies (Airbus, 2015) · Reduction in waste by improving production process (Airbus, 2014) · Airbus is leading the way in reducing airline noise pollution (Southampton, 2018) · Reducing the impact of climate change (Airbus, 2018g) · Reducing liquid hydrogen-fuelled aircraft (Svensson, Hasselrot and Moldanova, 2004) · Use of modern technology to reduce environmental impact (HBS, 2016) · Improvement of security due to adverse weather condition (UPRT, 2017) · Alternative options for fuel to reduce environmental impact (Wee, 2012)	· Health and safety employment laws (Bourrier, 2017) · Restrictions on trade laws (Mattoo and Subramanian, 2009) · Claims of anti-competitive behaviour (Kirby, 2009) · Legal suit by three companies over H225 situation (Johnson, 2016) · Alleged Eurofighter fraud suit by Austria (Knolle  and Schwarz, 2017) · Legal conflict with the government of Japan (Lewis, 2015) · 11 Families sued Airbus for negligence  due to AirAsia crash (Chan, 2015) · Case of negligence by Air Canada over Halifax crash landing (CBC, 2017) · Resolution of lawsuit against Boeing (Gates, 2018) · Airbus sues Leonardo for unfair trading (Judson, 2018)

Brexit is referred to an abbreviation for “British exit” which is referred to the decision of the United Kingdom to leave the European Union (EU) which was taken on June 23, 2016. The tread takes place in the United Kingdom and Europe; however, it affected industries across the globe. This trend started from June 23, 2016, and it is likely to affect next ten years of corporations situated in the UK and European Union nations. Brexit has a significant impact on the aerospace and defence industry. As per the study of Deloitte (2017), the regulatory bodies operating in the industry such as European Open Skies regime (ECAA) and European Safety Agency (EASA) ceased to exist after the Brexit. The EASA is one of the primary rules making authority which provides guidelines for corporations operating in the UK and EU nations (Deloitte, 2017). Brexit will have a negative impact on the corporations operating in the aerospace and defence industry because of adaptation of tariff and non-tariff barriers which will influence the transfer of components for the aircraft manufacturing resulted in delaying production and increasing production costs. In case of Airbus, a large number of its operations are situated in the UK and EU countries, and Brexit has increased confusion in trading regulations. Airbus has warned that it might have shut down its operations and leaves the UK in case clarity is not provided in terms of trading regulations (Topham, 2018). In an alternative scenario, Brexit creates new opportunities for Airbus since the announcement of the establishment of European Defence Fund in which €90 million ($104 million) which is expected to increase up to €500 million ($582 million) from 2020 onwards (Deloitte, 2017). Depending on the procurement, the newly increased defence funding will increase future sales of Airbus.

According to the data of IATA (2017c), the growing rate of jet fuel prices creates a potential threat for airlines because it resulted in increasing their operating costs which forces them to hike up their ticket prices (Figure 5). This issue affects the operations of Airbus worldwide because it reduces the global demand for aircraft. It is an on-going trend which will affect future profitability of Airbus. The increase in prices of jet fuel will result in increasing the operating expenses of airlines. As a result, they have to increase the prices of their services. The growth in ticket prices will reduce the number of passengers who travel through airline for domestic and local destinations (Becken and Lennox, 2012). Furthermore, the market-leading airlines such as Delta, United and Emirates will be able to sustain the growth in jet fuel prices however low-cost airlines such as AirAsia, JetBlue, EasyJet and Virgin America might not be able to sustain the crisis, and they have to the merger or acquired by another corporation. It will negatively affect Airbus profitability because the demand for commercial aircraft will reduce substantially. In an alternative scenario, Airbus might able to sustain its future profitability by manufacturing aircraft which uses alternative options of fuel. According to Wee (2012), there are many alternatives to oil and Airbus can rely on them to sustain their future profitability.  

Industry Analysis

As per the study of Connor and Krogstad (2016), the immigrant share of the population in many European countries jumped significantly with Sweden, Hungary and Austria receiving most immigrants. Factors such as Brexit resulted in increasing the number of immigrant in European nations because a total of 4.3 million people immigrated to EU member states in 2016 (Euro Stat, 2018). It is an on-going trend which will affect the profitability of the aerospace industry in the UK and EU countries. The growth in number of immigrants creates new business opportunities in the aerospace industry as the number of air travellers increases. This trend can positively affect Airbus because the demand for commercial airlines increased in EU countries which are the primary market for the company. The number of air traveller will double by 2036 (IATA, 2017b). It will assist in increasing the market share of Airbus in EU countries because it has already established effective manufacturing facilities in the country. In an alternative scenario, it can result in increasing competition for Airbus and its competitors, primarily Boeing, also evaluate these new business opportunities, and they expand their operations in order to capture the EU aerospace industry. 

The buyers of Airbus include premium and low-cost airlines such as Lufthansa, Northwest Airlines, US Airways, Air China, Jet Airways, and Qatar Airways, private jet companies and government defence agencies (Airbus, 2018c). These airlines purchase aircraft from competitors of Airbus as well such as Boeing. The suppliers of Airbus include fabrics suppliers, steel and metal manufacturers, fuel companies, engine manufacturers such as Rolls Royce and Safran, and hardware and software manufacturers. These suppliers provide services to competitors of Airbus as well.

Competitive Rivalry	Medium to high
Supplier Power	Low
Buyer Power	Low
Threat of Substitution	Low
Threat of New Entry	Low

The supplier power in aircraft manufacturing industry is low because there are a large number of suppliers available in the sector and the corporations can easily switch between them. It has a positive impact on the industry because Aircraft manufacturers such as Airbus and Boeing receive quality services and products from their suppliers. It also easier for organisations to implement change policies in the aircraft manufacturing industries because suppliers have limited options, therefore, they have to comply with the regulations. The low power of suppliers has a positive impact on Airbus because the company can expect its suppliers to provide top-notch services and materials to the enterprise. Furthermore, due to small options, the suppliers have to comply with new changes proposed by Airbus which is beneficial for the company. For example, the company tells its A320 plane suppliers to cut prices by 10 percent, and they have to follow the decision of the corporation because their bargaining power is low (Hepher, 2015). This force is an opportunity for Airbus to completely rely on its suppliers and create future business policies to avoid issues such as delay in supplies, low-quality products and hike in prices. The corporation enters into an agreement with its suppliers based on which they cannot increase the prices of their products and services due to the terms of the contract. Therefore, it has a positive impact on the company.

PESTEL Analysis

The buyer power in aircraft manufacturing industry is low because although there are six major aircraft manufactures but Airbus and Boeing have created a duopoly in the sector which reduces options for buyers. The low bargaining power of buyer has a positive impact on the aircraft manufacturing sector because it is one of the most profitable sectors which generate revenue of $709 billion in 2016. The low power of buyers has a positive impact on Airbus since it has dominated the aircraft manufacturing industry along with Boeing (Koenen, 2018). Both the corporations has established a duopoly in the sector based on which they are the highest earning enterprises in the industry. The buyers in the industry have to create a positive relationship with Airbus and Boeing because if they one rely on one aircraft manufacturer then they can increase the prices of their products. This force creates a significant opportunity for Airbus because the company is the primary aircraft manufacturer and lack of option resulted in increasing its profitability. The company is one of the primary earners in the aircraft manufacturing sectors along with Boeing, and it assists in sustaining its profitability and future growth. 

Conclusion

In conclusion, Airbus is a leading global aircraft manufacturing corporation, and it operates in aerospace and defence industry. The company target market of the corporation includes airline operators from worldwide. The aerospace and defence industry is showing the potential for growth as the investment in research and development and fuel-efficient aircraft increases. Airbus has adopted a value-added strategy based on which the enterprise analyses market trends, customer behaviour and future forecasts before taking business decisions. Further, PESTEL analysis and Five Forces framework is used in the report to analyse the external environment of Airbus. Different opportunities and threats caused due to external factors are analysed in the report which affects the operations and profitability of Airbus. The corporation can analyse these factor to create an effective business strategy and sustain its future growth. 

References

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Political

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Economic

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Social

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