Darwin McDaniel
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.
