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News

Aerospace Growth UnPrecedented


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Aerospace Industries Association (AIA)
: 25 April, 2008  (Company News)
Increased exports of aerospace products in the final quarter of 2007 sent the aerospace industry's trade balance into record territory last year, with a final tally of $60.4 billion.
'The sustained growth in aerospace trade is a good sign not only for our industry, but the U.S. economy as a whole,' AIA President and CEO Marion Blakey said. 'Our industry's track record as a major net export earner for the United States helps to offset the nation's chronic trade deficit.'

Aerospace industry exports soared to almost $97 billion in 2007, a nearly 14 percent increase over the $85 billion worth of aerospace products exported in 2006. Civil aircraft exports, which accounted for almost 50 percent of total aerospace exports, dominated the growth. Military-related exports accounted for almost $13 billion of the total.

'Airlines from around the world are stocking up on U.S. aircraft because of growing demand in both emerging and established markets,' Blakey said. 'This is a very hot market despite economic uncertainty.'

Imports of aerospace products increased to $36.5 billion in 2007, up from $30.5 billion in 2006. One-third of that growth was related to commercial transport aircraft and increased imports of regional jets.
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