NASA's Swift mission rises on science mission. Photo credit/NASA
Despite economic difficulties, this year has been a strong one for the U. S. aerospace industry, according to the Aerospace Industries Association, which represents more than 300 of the top manufactures of civilian and military aircraft, space systems, unmanned aircraft, components, materials and other services.
Total sales in six sectors are expected to exceed $218 billion, a figure reflecting growth for the eighth consecutive year.
MarionC. Blakey, president and CEO of theArlington,Va., based AIA reported the results this week rom the organization’s 47th year end analysis.
“Our industry is a leading job-creator, a technical innovator — think GPS and the Internet –and provides the critical advantage to our nation’s security,” said Blakey, who warned the trend could be jeopardized by severe budget cutting measures.
In the space sector, sales increased slightly — from $45.3 billion in 2010 to a projected $46.4 billion this year. The rise came despite the retirement of NASA’s shuttle flight and cuts to the nation’s weather satellite development and national security programs.
This year’s sales are also contributing to a healty balance of trade from aerospace activities.
Aerospace exports are predicted to reach nearly $90 billiion in 2011, a 12 percent rise, after two years of decline.
The export sales contributed to a $57.4 billion trade surplus, the largest of any manufacturing industry.
At the same time, aerospace employment for the year is projected at 624,400, a slight increase.
“So, despite a down economy, we’re holding steady,” said Blakely.
However, the AIA predicts a change in course for 2012, with a half billion dollar drop in overall sales, led by declines in every sector except civil aviation. Among those areas expected to fall are space and military aircraft sales.