U.S. aerospace & defense industry reports strong economic impact for 2024

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Eric Fanning President & Chief Executive Officer, Aerospace Industries Association | Official website

U.S. aerospace & defense industry reports strong economic impact for 2024

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Arlington, Va. – The Aerospace Industries Association (AIA), in partnership with S&P Global Market Intelligence, has published the 2025 edition of "Facts & Figures." This report provides insights into the economic contributions of the aerospace and defense (A&D) industry in the United States, using data from 2024. It examines employment, gross domestic product (GDP) contribution, sales, labor income, and taxes.

Eric Fanning, AIA’s President and CEO, stated that the U.S. aerospace and defense industry continues to thrive due to a skilled workforce and supportive policy framework. He noted that the sector generates nearly $1 trillion in economic activity and sustains millions of high-skilled jobs. Fanning emphasized that it is "the only manufacturing sector with a net-positive trade balance," adding that "the world wants to buy what we’re making."

The report highlights that despite challenges such as workforce shortages and supply chain disruptions, the A&D industry remains vital for national security and economic growth. In 2024, it generated over $995 billion in business activity and contributed $443 billion in economic value. Labor income amounted to $257 billion, with an average of $115,000 per job—56% above the national average.

Additionally, the U.S. A&D industry maintains a trade surplus of $73.86 billion while exporting nearly $139 billion in technology to allies worldwide. To address ongoing challenges, industry leaders are focusing on advanced manufacturing, digital transformation, and AI-driven workforce development.

For more details on Facts and Figures and related resources, visit their website.

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