The influence of the aviation and space industries on the development of the world economy and economic development, industrial potential, competitiveness and position of various countries in the world is shown in the article. Global aviation and space market has been studied and an economic analysis of the aviation and space sector of the industry of the countries that are among ten world leaders in the industry was carried out. The main indicators of the development of the aviation and space industry of world countries-leaders and Ukraine have been systematized. The volumes of income of the leading companies of the industry producers, between which there is fierce competition, have been given. International competitiveness has been analyzed and ways of recovery and development of the aviation and space sector of Ukraine were proposed, taking into consideration the significant losses and damages caused by full-scale military invasion of aggressive neighbor on the territory of Ukraine. Scenarios of competitive behavior were considered and a strategy for the restoration of one of the largest enterprises in the world and single one in the aviation and space industry in Ukraine that has completed the cycle of engine production – Joint Stock Company Motor Sich has been made.