(NSI News Source
Info) WASHINGTON - December 11, 2008: U.S. aerospace industry sales are set to grow a modest 2.2 percent in 2009 from what would have been rung up this year if not for a strike at Boeing Co, the sector's chief trade group said on Wednesday.
Aerospace sales
Info) WASHINGTON - December 11, 2008: U.S. aerospace industry sales are set to grow a modest 2.2 percent in 2009 from what would have been rung up this year if not for a strike at Boeing Co, the sector's chief trade group said on Wednesday.Aerospace sales
-- including civil and military aircraft, missile and space-related hardware
-- are on pace to hit $204 billion this year, said the Aerospace Industries Association.
This would be a rise of 2.1 percent, a lower growth rate than in recent years but a record sales figure for the fifth year in a row, said the AIA.
For 2009, sales should reach $214 billion, "a figure that is about 2.2 percent more than the total the industry would have achieved this year had a work stoppage not impacted the 2008 bottom line," the trade group said in its annual year-end review and forecast.
A 58-day strike by Boeing's 27,000 machinists shut down its commercial aircraft plants from Sept. 6 to Nov. 2.
U.S. aerospace exports are expected to rise 2.1 percent in 2008 to $99.2 billion, from $97.2 billion last year, fueling a foreign trade surplus of about $61 billion, little changed from 2007, AIA said, referring to this as the largest trade surplus of any U.S. manufacturing sector.
The industry group
This would be a rise of 2.1 percent, a lower growth rate than in recent years but a record sales figure for the fifth year in a row, said the AIA.
For 2009, sales should reach $214 billion, "a figure that is about 2.2 percent more than the total the industry would have achieved this year had a work stoppage not impacted the 2008 bottom line," the trade group said in its annual year-end review and forecast.
A 58-day strike by Boeing's 27,000 machinists shut down its commercial aircraft plants from Sept. 6 to Nov. 2.
U.S. aerospace exports are expected to rise 2.1 percent in 2008 to $99.2 billion, from $97.2 billion last year, fueling a foreign trade surplus of about $61 billion, little changed from 2007, AIA said, referring to this as the largest trade surplus of any U.S. manufacturing sector.
The industry group
-- whose members include Lockheed Martin Corp, Boeing and Northrop Grumman and many other companies
-- has begun playing up the number of jobs it creates in an apparent effort to protect lucrative arms programs under the incoming administration of President-elect Barack Obama.
The group has launched an advertising campaign that says the aerospace industry supports two million middle-class jobs spread over 30,000 companies, many of them small suppliers, in all 50 states.
The group has launched an advertising campaign that says the aerospace industry supports two million middle-class jobs spread over 30,000 companies, many of them small suppliers, in all 50 states.
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