Report highlights status of aerospace, defense industry

The Aerospace Industries Association (AIA), in collaboration with S&P Global Market Intelligence, recently published a report highlighting the strength of the aerospace and defense industry and its contribution to the U.S. economy.

“This year’s facts and figures shows that the American aerospace and defense industry continues to be an economic powerhouse – outpacing national averages for job creation and wages and contributing significantly to global trade, national security, and technology leadership,” Eric Fanning, AIA president and CEO, said. “We take pride in maintaining the gold standard in aviation, delivering cutting-edge equipment for modern warfighters, and enabling international collaboration with our allies and partners. With our world-class workforce, advanced supply chain, and high-quality innovations, the American aerospace and defense industry stands as one of our country’s strongest strategic assets.”

Highlights include:

In 2023, the industry generated $425 billion in economic value, $56.8 billion in federal tax receipts, and generated $955 billion in total business output.

Direct output totaled $533 billion with an additional nearly $422 billion in indirect activity through the domestic supply chain.

The industry supported more than 2.2 million workers in 2023 and $248 billion in labor income.

Within the industry, the defense and national security sector comprising the remaining 53 percent of direct employment while the commercial aerospace sector comprises 47 percent.

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