in ,

AIA Reports Growth of U.S. Aerospace And Defense Industry

AIA Reports Growth of U.S. Aerospace And Defense Industry - top government contractors - best government contracting event
https://executivebiz-media.s3.amazonaws.com/2022/08/19/30/9f/c3/a0/b7/6f/d4/64/Executive-Biz.png
Jeff Brody

The aerospace and defense industry in the U.S. saw a significant growth in jobs and exports in 2018, which contributed more than $374B to the country’s gross domestic product, Rotor & Wing International reported Friday.

According to an initial report by the Aerospace Industries Association, the industry made a $929B economic output in the past year, a figure 7 percent higher than records in 2017.

Employment also increased by 4 percent to 2.5 million in 2018, covering 20 percent of U.S. manufacturing jobs.

AIA said aerospace and defense companies provided $92,742 as an average wage in the same period, which was 87 percent higher than the average salary of other American workers.

Meanwhile, exports climbed by nearly 6 percent to $151B in 2018, along with nearly $90B trade surplus.

AIA plans to issue the final report on the state of the U.S. aerospace and defense industry this fall.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about Financial Reports

mm

Written by Darwin McDaniel

General Dynamics Subsidiary Awarded $61M Navy Modification for Lead Yard Services - top government contractors - best government contracting event
General Dynamics Subsidiary Awarded $61M Navy Modification for Lead Yard Services
Deloitte: Public Sector Pros Consider Continuous Learning, Employee Experience Vital to Agencies - top government contractors - best government contracting event
Deloitte: Public Sector Pros Consider Continuous Learning, Employee Experience Vital to Agencies