The Aerospace and Defense Industry in the U.S.
A financial and economic impact study
A new report by Deloitte, commissioned by the Aerospace Industries Association (AIA), demonstrates the irreplaceable impact the aerospace and defense (A&D) industry has on America's economic and national security.
The research conducted shows that the U.S. Aerospace and Defense industry generates $324 billion of revenues, contributes 2.23 percent to GDP, has a direct payroll of $84 billion, pays Federal and State cash income taxes of $38 billion, and exports $90 billion of goods. A&D is the highest contributor to the nation's trade balance.
Beyond the numbers, the industry continues to contribute far more. Specifically, A&D makes contributions to national security, delivers humanitarian aid, spurs game changing technology to help reduce casualty rates in armed conflict, bring safer and more fuel efficient jet transportation. Moreover, the industry continues to innovate with technology to connect our society with advances in digital communications.
This study demonstrates the significant economic and financial contributions made by the aerospace and defense industry, and its broader impact on our society. These will be important considerations as constituents assess the impact of changes to investments in research and development and the industrial base, and the continued ability of the industry to create the next generation of game changing products and services.