Free Newsletter
Register for our Free Newsletters
Newsletter
Zones
Airport, Border and Port Safety and Security
Left Nav Sep
Bioterrorism
Left Nav Sep
Civil Aircraft
Left Nav Sep
Civil Airlines, Airports and Services
Left Nav Sep
Communications and Navigation
Left Nav Sep
Education, Training and Professional Services
Left Nav Sep
Manufacturing and Materials
Left Nav Sep
Military and Defence Facilities
Left Nav Sep
Military Aviation
Left Nav Sep
Military Vehicles
Left Nav Sep
Naval Systems
Left Nav Sep
Personal Equipment
Left Nav Sep
Software and IT Services
Left Nav Sep
Space and Satellite
Left Nav Sep
Weapons, Ammunition and Explosives
Left Nav Sep
View All
Other Carouselweb publications
Carousel Web
Defense File Logo
New Material Logo
Pro Health Service Zone
Pro Manufacturing Zone
Prosecurity Zone
Web Lec Logo
Pro Engineering Zone
 
 
 
News

Aerospace Shows Strength in Harsh Financial Atmosphere


Strict Standards: Only variables should be passed by reference in /home/defensef/public_html/components/com_zone/handleHTML.php on line 623
Aerospace Industries Association (AIA)
: 11 December, 2008  (Company News)
The aerospace industry is showing resiliency in trying economic times, ending 2008 with modest growth and continued strength in important areas like foreign trade balance and employment, AIA announced Wednesday 10 Dec 08.

While the industry has not been immune to effects from the ongoing global financial crisis, it is showing relative strength, AIA president and CEO Marion Blakey said during the annual AIA Year-End Review and Forecast.



“We are in an extremely challenging economic atmosphere, but our industry is proving to be remarkably durable,” Blakey said. “We anticipate this to continue, and we expect our industry will continue to be an asset to the U.S. economy as we climb out of our current financial hardships.”



Aerospace sales are on pace to reach $204 billion for 2008. This is an increase of 2.1 percent – a lower rate than in recent years, but a record sales figure for the industry for the fifth consecutive year.



The industry will also continue to post very strong export numbers, reaching $99.2 billion for the year. That fuels a critically important foreign trade surplus of about $61 billion, almost exactly the figure the industry logged in 2007. It is the largest trade surplus of any U.S. manufacturing sector.



Employment also remained solid, with an average workforce that will reach 655,500 for the year. The total was 657,700 in figures released in September. The average is about 10,000 more than the average for 2007.



AIA is forecasting modest sales growth for 2009. Sales should reach $214 billion, a figure that is about 2.2 percent more than the total the industry would have achieved this year had a work stoppage not impacted the 2008 bottom line. Blakey acknowledged we are in extremely volatile economic times that could affect the forecast in the coming year.



AIA has launched an outreach campaign highlighting the industry’s strength and potential to help the U.S. economy recover from the recession. The campaign, titled “Aerospace and Defense: The Strength to Lift America,” details that the industry supports 2 million middle-class jobs spread out over 30,000 companies in all 50 states. Aerospace helps ensure our national security, and bolsters advanced technology innovation.



The new administration and Congress should rely upon our industry in this time of need and continue to support the programs that can get America’s economy moving again, Blakey said.



Blakey released the statistics during the 44th annual installment of the Year-End Review and Forecast. About 350 members of the media, industry and government attended the event, which showcases statistical analysis by AIA’s Aerospace Research Center.
Bookmark and Share
 
Home I Editor's Blog I News by Zone I News by Date I News by Category I Special Reports I Directory I Events I Advertise I Submit Your News I About Us I Guides
 
   Â© 2012 DefenseFile.com
Netgains Logo