The U.S. aerospace and defense industry accounts for nearly 2% of GDP, generating $865 billion in economic output in 2017. This strong output is reliant on a number of global and domestic economic, political, and even environmental factors. With technology and demand changes, however, sub-sectors shift and move from year to year. In 2017, the biggest gainers were general aircraft and civil space systems, while military aircraft deliveries decreased. The total 2017 figures are a 2.2% decrease from 2016, but the U.S. remains the world’s largest exporter in the sector and boasts a surplus of $85.9 billion, the second largest in U.S. history and the largest among other U.S. industries. The largest share of the industry’s commercial exports ($122.8 billion) went to China ($16.3 billion), with France and the UK coming in second and third with $13 billion and $10 billion, respectively.
Source: Which US aerospace and defense sectors excelled in 2017?
