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U.S. Aerospace and Defense Sector Financial Performance Analysis

Defense revenues and earnings continued to decrease. Commercial aerospace continued double digit revenue growth in 2012.


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The 2012 top 20 U.S. aerospace and defense company financial performance analysis report details the financial performance of the top 20 publically listed aerospace and defense companies headquartered in the United States, based on sales revenue. 

Key findings from the report:

  • In 2012, the top 20 U.S. aerospace and defense (A&D) companies’ revenues increased 5.5 percent to $354.7 billion primarily driven by record setting commercial aircraft production which offset negative revenue growth within the defense subsector.
  • Overall operating earnings decreased 2.2 percent to $36.0 billion due to the impact of slowing defense spending. Commensurately, overall operating margins decreased 79 basis points to 10.2 percent in 2012 from 10.9 percent in 2011.
  • Defense firms revenue decreased 1.5 percent and earnings fell 7.4 percent, while commercial aerospace revenue increased 18.3 percent and earnings increased by 13.2 percent.

Companies included in the analysis:

Top 20 U.S. aerospace & defense companies/divisions
Boeing Raytheon SAIC Spirit Aerosystems
Lockheed Martin GE Aviation* Precision Castparts* Rockwell Collins
General Dynamics L3 Communications Huntington Ingalls Industries Alliant TechSystems
United Technologies* Textron Exelis URS Federal*
Northrop Grumman Honeywell Aerospace* Harris Oshkosh Defense*

*Partial company results based on business unit A&D activity. 

For more information, download the full report, from the top of this page.


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As used in this document, “Deloitte” means Deloitte LLP [and its subsidiaries]. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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